SUCCESS BY THE
NUMBERS
20
ANNUAL COST SAVINGS
53
PROJECTED ENERGY SAVINGS*

THE BUILDING:

Ariel West

Building type

Multifamily

Project type

Energy efficiency

Building size

1 building

171,998 square feet

68 units

Upgrades

LED retrofits

 

NYCEEC loan product

Direct loan

Year built

2008

Term

4.3 years

Location

Upper West Side, NY

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.

THE PROJECT NUMBERS

Total project cost $93,966
ConEd incentives $14,770
NYCEEC loan $79,196
Savings over 10 years $208,110
Annual NYCEEC loan payments $39,997
Total NYCEEC loan payment $92,996
Simple payback period 3.9 years

THE RESULTS

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