FRAMINGHAM, Mass. & LANSING, Mich.--(BUSINESS WIRE)--Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today that the Michigan Agency for Energy/Michigan Public Service Commission (MAE/MPSC) were awarded the 2015 Energy Services Coalition (ESC) Award for Economic Leadership in Energy Efficiency.
MAE/MPSC and Saginaw Plaza were recognized by the Michigan Chapter of the MI ESC during an awards ceremony on November 4, 2015 at the MAE/MPSC Offices located in Lansing, MI. Valerie Brader, executive director of Michigan Agency for Energy (MAE), keynoted the ceremonial event while John Quackenbush, chairman of the Michigan Public Service Commission accepted the award on behalf of MAE/MPSC and Saginaw Plaza.
“MAE/MPSC is honored to be recognized by the MI ESC and to receive this sustainability leadership award,” said Valerie Brader. “We are committed to energy waste reduction and we appreciate Saginaw Plaza’s involvement in upgrading our facility in support of our sustainability initiatives. Energy efficiency and conservation are the first and easiest steps in ensuring affordable, reliable energy for the state’s taxpayers and ratepayers. Our ongoing partnership with Ameresco has allowed us to effectively upgrade our facilities in the most efficient, environmentally responsible, and economically prudent way.”
“Ameresco congratulates MAE/MPSC for being recognized with this award,” said Louis P. Maltezos, Executive Vice President, Ameresco. “We commend the Michigan Agency for Energy and the Michigan Public Service Commission for their leadership and collaboration to institute energy efficiency and renewable energy improvements to reduce carbon footprint without additional tax dollars.”
Under the $437,000 Energy Savings Performance Contract (ESPC) with Ameresco, Saginaw Plaza, LTD. has upgraded their Lansing, MI facility. It is currently leased to the State and houses the Michigan Agency for Energy and the Michigan Public Service Commission; which is the regulatory agency for energy in the state. MAE/MPSC worked closely with the property owner, Saginaw Plaza, and Ameresco to achieve facility improvements given MAE/MPSC is Saginaw Plaza’s long-term tenant. The major upgrades are expected to result in more than $25,000 in annual energy and maintenance savings.
The recently completed ESPC included energy efficiency upgrades and infrastructure improvements such as interior and exterior LED lighting, an energy kiosk, and a new pole-mounted 20kw solar array. Additional energy conservation measures were identified and installed as a result of Ameresco’s energy audit including a new roof, more energy efficient insulation, two electric vehicle charging stations, weatherization and programmable LED simulated skylights.
MAE/MPSC, the first state energy agencies in the U.S. to implement Property Assessed Clean Energy (PACE) funding for energy efficiency and renewable energy, afforded the opportunity for the facility owner to obtain 20-year, fixed-rate financing for the clean energy measures. This public-private partnership for the efficiency improvements utilized Michigan's PACE statute. PACE is a simple and effective way to finance energy efficiency, renewable energy, and water conservation upgrades. PACE can pay for new heating and cooling systems, lighting improvements, solar panels, water pumps, insulation, and more for almost any commercial, industrial, non-profit, and agricultural property. Property owners use PACE because it saves them money and helps make their buildings more valuable. PACE financing pays for 100% of a project’s costs and is repaid for up to 20 years. PACE financing stays with the building with an assessment added to the property’s tax bill upon sale. Local governments sponsor PACE financing to create jobs, promote economic development, and protect the environment.
Annual energy savings are expected to exceed $25,000, and the savings due to reduced energy consumption exceed the cost of repaying the loan. In addition, Saginaw Plaza is able to take advantage of the tax credits. The annual emissions reduction from this project is expected to be approximately 157 metric tons of CO2. It is the equivalent of taking 33.1 passenger cars off the road; or the carbon sequestered by 129 acres of U.S. forests in one year or 4,026 tree seedlings grown for 10 years.
About Michigan Agency for Energy
The Michigan Agency for Energy (MAE), coordinates analyzes, advises on and advocates for the state’s policies, programs and proposals related to energy. MAE also provides energy related information and assistance to state departments and agencies. For more information, visit www.michigan.gov/energy.
About Michigan Public Service Commission
The Michigan Public Service Commission (MPSC) administers policies and regulations to ensure that energy and communications services are provided in an efficient, reliable, and safe manner to adequately meet the needs of Michigan residents. For more information, visit www.michigan.gov/mpsc.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.