Wilson Meany paid a small portion of the project costs up front, and deferred the majority of costs through a 3-year Energy Services Contract: paid monthly and passed through to tenants. This enabled an immediate net reduction in the expense pool while providing a financial return to ownership. The result was a boost to ownership from an unlevered 14% to a levered 22%.
The Nuts & Bolts: Our Process
Measurement and verification demonstrated that the building is saving almost exactly what was predicted. Additionally, measurement and verification revealed that due to faster than expected increases in utility rates, in year 1 the Carbon Lighthouse energy projects buffered the building against what would have been a utility cost increase of 9%.