CHP: Cost & Energy Savings “On the House”
Stevenson Commons is an affordable housing community located in the Bronx, NY, which consists of three 24-story buildings and six 6-story buildings, for a total of 948 residential units. Because energy costs are a large portion of the operating budget of these master-metered buildings, the management of the community continually seeks ways to reduce these expenses to help maintain reasonable rents. Also, Stevenson Commons was exploring multiple options to comply with new city requirements to switch away from fuel oil.
An energy analysis conducted by Aegis Energy demonstrated compelling energy savings and reduced environmental impact by replacing existing equipment with Combined Heat and Power (CHP). Stevenson Commons entered into a 15-year Shared Savings Agreement with Aegis Energy which provided installation of a complete CHP system at no upfront cost. Since Aegis owns and operates the on-site “utility.” Stevenson has no associated operating costs.
The system consists of 7 CHP modules across three buildings using natural gas-fired engines supplying a total of 525kW of electricity. The main electrical distribution panels receive the cogenerated electricity which is then distributed to meet 50% of the total building load. Electricity from the grid services the remaining load. The turnkey system also included a boiler conversion. Heat produced in each CHP unit’s engine and exhaust is captured through various heat exchangers transferring the heat to meet 47% of the buildings’ total space heating and domestic hot water demand. The CHP system runs 24×7, and is maintained and remotely monitored around the clock by Aegis Energy to ensure efficient operation and maximum savings to the customer.
Aegis Energy helped Stevenson Commons to meet new compliance requirements and reduce carbon dioxide emissions by 4,000 tons per year, the equivalent to removing 706 cars from the road. The Shared Savings Agreement allowed the customer to achieve significant these energy-saving results without any upfront capital or ongoing maintenance expenses.