171,998 square feet
NYCEEC loan product
Upper West Side, NY
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.
THE PROJECT NUMBERS
|Total project cost||$93,966|
|Savings over 10 years||$208,110|
|Annual NYCEEC loan payments||$39,997|
|Total NYCEEC loan payment||$92,996|
|Simple payback period||3.9 years|
NYCEEC financing enabled the replacement of antiquated lighting with warmer, brighter and more efficient light bulbs. 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.
*Projected energy savings based on source savings; calculations based on common area lighting electric savings