Article excerpted from IMT.org
“Continental Plaza is an affordable housing development consisting of one apartment building and nine sections of townhouses in South Side Chicago’s Auburn Gresham neighborhood. Using Affordable Community Energy, Inc.’s innovative, mission-driven energy service company model, Continental Plaza’s building owner has been able to dramatically reduce the building’s energy and water costs with minimal upfront investments.
The renovations included installing an extensive solar photovoltaic system on the Chicago rooftop, which generates about 200,000 kWh each year, and a micro combined heat and power system—a relatively new concept for multifamily housing in the United States—to generate electricity from wasted heat energy from the building’s domestic hot water. In addition, a 10-year shared-savings energy performance contract and power purchase agreement gives the owner the added benefit of a third-party providing the operations and maintenance necessary to sustain the efficiency savings throughout the contract…”