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MEA Lawton Loan Recipient Receives High Performance Building Awa
Posted August 10, 2011
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Low-Interest Loan to Buccini/Pollin Group from MEA Finances Project that Saves $300,000 Annually in Energy Costs
BALTIMORE, MARYLAND - Today, developer Buccini/Pollin Group (BPG) received a "High Performance Building Award," presented by energy management company Seiberlich Trane, for its energy efficiency improvements to One North Charles, a 25-story office building in downtown Baltimore. BPG financed the energy efficiency improvements with a low-interest loan from the Maryland Energy Administration's Jane E. Lawton Conservation Loan Program and a rebate from Baltimore Gas and Electric (BGE).
"Energy efficiency is a smart investment that generates real results," explained MEA director Malcolm Woolf. "BPG combined a Lawton Loan with a rebate from the utility to cover the entire cost of the project. This project is a great example of maximizing utility incentives and leveraging low-cost financing from MEA."
BPG borrowed $600,000 from the Lawton Loan Program to finance more than half of the costs of its energy efficiency improvements, including lighting controls, building automation systems, and a major upgrade to the heating, ventilation, and air conditioning (HVAC) system. From these improvements, implemented by project partner Seiberlich Trane, BPG expects to save $300,000 in energy costs annually.
"The money saved by reducing annual energy used can be reinvested by businesses to increase competitiveness and hire more employees," continued Woolf. "With $2.5 million available for loans over the next year, we're working to tell the One North Charles success story far and wide, to help other businesses understand the benefits of investing in energy efficiency and to help them make the best use of available utility incentives and State resources."
The Lawton Loan Program provides businesses, eligible non-profit organizations (including hospitals and private schools), and local governments (including public school systems and community colleges) in Maryland a unique opportunity to reduce operating expenses by identifying and installing energy conservation improvements. The program honors the late Delegate Jane E. Lawton for her dedication to Maryland's environment and energy efficiency.
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