Built in 1931, Hebrew Home for the Aged is a nursing home complex in the Bronx, New York.
As a significant energy user with aging building systems, Hebrew Home sought a turnkey solution that provide financing and on-going operations and maintenance. Hebrew Home accomplished this objective by using an energy services agreement from Ecosave and funded with a $2.5 million loan from NYCEEC.
- Project type: Energy efficiency
- Total project cost: $2.7 million
- Financial product: Energy services agreement loan
- NYCEEC role: $2.5 million loan
THE CLIENT CHALLENGE
With a high energy use profile as a healthcare facility, the Hebrew Home for the Aged had significant energy cost savings opportunities. However, the building owners lacked technical expertise and financial resources to start and complete an energy efficiency project
THE NYCEEC SOLUTION
Ecosave provided a turnkey solution with an energy services agreement (ESA) that guaranteed project performance. NYCEEC funded the ESA with a $2.5 million loan, enabling Hebrew Home to upgrade its aging infrastructure at no initial cost or project risk.
The energy upgrades at Hebrew Home will significantly enhance resident comfort and safety while reducing energy costs and greenhouse emissions.
- Significant energy savings and smoother building operations
- No upfront project cost or additional debt
- Improved resident comfort
- Turnkey solution with no performance risk
LED lighting, replacement of fan coil units, building automation system upgrades, electric and steam sub‐meters, air handling units, variable frequency drives on pumps and fans
“NYCEEC’s financing solutions helped us and our customers. We can close more deals by approaching building owners with financing in hand. Our customers are achieving lasting energy savings and increased cashflow.”
– Marcelo Rouco | CEO, Ecosave (Project Developer)