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Deal Spotlight

Lighting Upgrade in Multifamily Building

$ 0
Annual cost savings
0 %
Projected energy savings
0 %
Projected GHG savings
Ariel West Building Looking Up

The Building: Ariel West

Building type

Building size
1 building
17,988 square feet
68 units

Year built

Upper West Side, NY

Project type
Energy efficiency

LED retrofits

NYCEEC loan product
Direct loan

4.3 years

Closing date
January 2019

The Project

Ariel West is financing a project to retrofit its existing fluorescent lighting with higher-efficiency LED lighting. The building is using a NYCEEC equipment loan with ConEd incentives to fund the project. The scope involves replacing over 900 bulbs and 250 fixtures in common areas including the hallways, refuse rooms, amenity spaces, stairwells, storage and maintenance rooms.

Total project cost


ConEd incentives




Savings over 10 years


Total NYCEEC loan payment


Simple payback period

3.9 years

The Results

NYCEEC financing enabled the replacement of antiquated lighting with warmer, brighter and more efficient light bulbs. Lifetime lighting energy cost savings will more than pay for the financing costs associated with these improvements. After the four-year loan term, the building will capture the full annual energy cost savings of $21,000.