Chicago , IL
Affordable Community Energy (ACE)
Continental Plaza is a 1950s building that provides 164 affordable, one-bedroom apartments for seniors. To fulfill the U.S. Department of Energy’s Better Buildings Challenge, Hispanic Housing Development Corporation formed Affordable Community Energy, a unique mission-driven energy services company model. Through lighting, HVAC, solar photovoltaic, combined heat and power, and water conservation upgrades, ACE helped Continental Plaza reduce its 2014 utility costs by over $47,000. Retrofit measures resulted in over $784,000 in potential added property value.
Energy efficiency, Renewable energy, Water efficiency
Type of Project:
Scope of Efficiency Work:
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.
HUD loan, Energy Services
HUD Energy Innovation Fund Grant
State and utility incentives
New Markets Tax Credits, Solar Investment Tax Credits
Project Affordability Criteria:
This is a subsidized property