Anchorage Enters First Energy Savings Performance Contract with Ameresco to Increase Energy Efficiency
Ameresco to design, engineer, procure and construct energy efficient lighting in four Anchorage Community Development Authority (ACDA) parking garages
FRAMINGHAM, Mass.--(BUSINESS WIRE)-- Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today that it has entered into an Energy Savings Performance Contract (ESPC) with ACDA to replace existing fixtures with energy efficient lighting in four parking garages in downtown Anchorage. Funding for this project is from the Department of Energy (DOE) through the Energy Efficiency and Conservation Block Grant program. The project, which commenced on October 1, 2010 and is expected to last four months, is valued at $589,000 and is expected to achieve annual energy savings of approximately 1,123,313 kWh/year. With the improvements, ACDA will not only save money, but improve security and have greater visibility at their facilities.
"We are thrilled to be working with the largest city in the State of Alaska, helping them to increase their energy efficiency and pass on energy cost savings," said Gary Gagnon, Ameresco's Director of Operations. "In tight fiscal times, ESPCs allow government agencies that are struggling to maintain existing facilities to get access to the needed capital to make critical improvements, lower operating costs and meet their sustainability goals by reducing their carbon footprint. We look forward to working closely with the city energy professionals to provide energy efficiency projects and services to Anchorage."
An Energy Savings Performance Contract is a budget neutral way to reduce energy use and associated costs, and renew facilities and building systems without burdening shrinking capital budgets. Under this ESPC, Ameresco will pay all costs involved in identifying and installing the upgraded energy-efficient equipment. The resulting cost savings will offset the costs of these improvements over five years. Ameresco will also provide savings verification.
"This is ACDA's first ESPC and we are proud to partner with Ameresco," said Rick Onstott, ACDA's Parking Director. "Ameresco will retrofit the lighting. As a result we will see reduced energy consumption and improved lighting resulting in safer garages. The long-term operational savings will be significant to us."
ACDA's objectives were to improve the quality and quantity of light in the facilities, with special emphasis on the parking decks. The improved lighting on the parking decks will draw more parking transactions and thus, improve the overall occupancy rates in the parking garages. Additionally, ACDA wanted to reduce kWh consumption, increase lamp, fixture and ballast life, reduce electric bills, save on operations and maintenance expense, and improve color rendering. Ameresco will provide design, energy engineering, equipment procurement, construction and savings verification for ACDA to achieve these goals.
About Ameresco, Inc.
Ameresco, Inc. was incorporated in Delaware in April 2000 and is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for facilities throughout North America. Ameresco's solutions include upgrades to a facility's energy infrastructure, and the development, construction, and operation of renewable energy plants. With corporate headquarters located in Framingham, MA, Ameresco has 55 offices in 29 states and four Canadian provinces. For more information, visit www.ameresco.com.
Released October 26, 2010