Niagara Falls, NY–– The New York State Energy Research and Development Authority (NYSERDA) has partnered with the Niagara Falls Housing Authority “NFHA” and Chevron Energy Solutions (Chevron ES) to implement a 12-year energy efficiency and water-saving program at three residential communities that is expected to yield annual savings of approximately $94,000.

About 900 people live in 516 residential units at the Wrobel Towers, Jordan Gardens and Packard Court communities which were included in the energy efficiency and conservation improvement effort.

The $823,000 efficiency and conservation project was designed and its equipment installed by Chevron ES under a performance contract. NYSERDA provided more than $133,788 in financial and technical assistance to NFHA for the program through the New York Energy $mart^SM Assisted Multifamily Program (AMP).

“By utilizing NYSERDA financial incentives and a performance contract with Chevron Energy Solutions that guarantees energy savings, the Authority was able to implement these upgrades. The cost of the improvements will be paid for by the annual savings realized by the Authority,” said NFHA Executive Director Stephanie W. Cowart.

“Through our Assisted Multifamily Program, NYSERDA is helping the Niagara Falls Housing Authority reduce energy and water consumption, while also providing a healthier and more comfortable living environment for the residents,” said NYSERDA President Peter R. Smith.

Under the agreement between NFHA and Chevron ES, guaranteed annual savings of $88,000 will be used by NFHA to pay for the improvement program. The actual annual savings are expected to be about $94,000, thereby providing excess funds that NFHA can incorporate into its general operating expenses. A portion of the guaranteed savings will pay for the equipment and project installation over a 12-year period. Once the project financing has been retired, all savings will flow to the housing authority.

“Performance contracting provides NFHA with a new stream of capital that can fund the improvements,” said Chevron ES president Jim Davis. “Ultimately, NFHA's program will create an upgraded infrastructure that can help promote a safer, healthier, and more environmentally friendly community.”

Chevron ES engineers estimate that the project will reduce electric energy consumption by 234 kWh annually, natural gas consumption by 57,000 therms annually, and water consumption by 3.4 million gallons annually.

The efficiency measures, installed by Chevron ES, include energy-efficient lighting on the exterior of buildings as well as in the interior common areas, controls on corridor ventilation, programmable thermostats, building shells and ductwork sealing, low-flow showerheads and low-consumption toilets. The renovations, retrofits and upgrades were completed this past April.

NYSERDA incentives included $18,300 in technical assistance to help defray the cost of the engineering assessment. In addition, NFHA also took advantage of the New York Energy $mart^SM Loan Fund to help pay for the cost of the energy-efficiency work. The Loan Fund reduces the interest paid on the loan by four percent. Under the Assisted Multifamily Program, loans can be made up to $5 million for terms of up to 10 years on pre-qualified and custom energy-efficiency measures approved by NYSERDA. Loans are secured through participating local banks.

By utilizing the Loan Fund, NFHA will save $115,488.23 in interest charges over the term of its 10-year loan.

Smith said the New York Energy $mart^SM Assisted Multifamily Program provides a range of technical and financial incentives to low- and moderate-income multifamily residential properties in New York State for capital projects involving energy efficiency improvements. The program reduces energy burdens for residents by improving energy efficiency and energy management of the buildings in which they live. It provides owners of affordable housing with free technical assistance, access to low-cost financing, and, in many cases, grants.

Since its launch in 2000, the Assisted Multifamily Program has worked with over 400 affordable housing properties in 41 counties throughout New York State. NYSERDA has committed approximately $52 million for this effort to date, spread across almost 89,000 units statewide. NYSERDA funds under this initiative are expected to leverage commitments of an additional $176 million from other sources, for a total of more than $228 million in new investments for energy efficiency renovations of affordable housing.

New York Energy $mart^SM programs are funded by a System Benefits Charge (SBC) paid by electric distribution customers of participating utilities. NYSERDA, a public benefit corporation established by law in 1975, administers SBC funds and programs under an agreement with the Public Service Commission. Additional information about these and other energy-saving programs is available online at www.nyserda.org or www.getenergysmart.org, or toll-free at (866) NYSERDA.

Chevron Energy Solutions, a unit of Chevron Corporation (NYSE: CVX) partners with institutions and businesses to improve facilities, increase efficiency, reduce energy consumption and costs, and ensure reliable, high quality power for critical operations. Its customers include schools, colleges and universities; federal, state, and local government agencies and other public institutions; and commercial and industrial businesses.

The Niagara Falls Housing Authority (NFHA) is a public housing agency located in Niagara Falls, New York, servicing the low to very low-income population. In existence for more than sixty years (60), NFHA owns and operates 849 public housing units within five (5) communities. Approximately 1,350 people reside in the communities, with just half under the age of eighteen (18).

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