FRAMINGHAM, Mass. & PORTLAND, Ore.--(BUSINESS WIRE)-- Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today that Ameresco Quantum, Inc., has started work on a comprehensive Energy Savings Performance Contract (ESPC) for Reed College in Portland, Oregon. The $5.4 million ESPC is expected to help the college save in excess of $2.7 million over 10 years through campus-wide operational and energy efficient upgrades while reducing its annual CO2 emissions by 2.65 million pounds.
After recently celebrating its 100th anniversary, Reed College recognized the value of a thorough evaluation of the 960,446 square feet of campus buildings. The administration looked to significantly reduce the college’s environmental impact by minimizing energy use, maximizing equipment life, and maintaining and improving on the livability of their building environments. By providing the college with an accurate existing condition assessment from their meter-based Total System Evaluation™ (TSE) method, Ameresco Quantum was able to identify and prioritize major improvements to eight buildings plus campus-wide lighting and water measures to support recognized operational and sustainability goals.
“With some of the college buildings dating back to 1912, Reed wanted to investigate means to maximize our energy opportunities moving forward. The college looked for a partner that would take a unique and collaborative approach to matching the appropriate energy and water efficiency solutions to our diverse set of mechanical equipment and controls,” said Townsend Angell, Reed College’s Director of Facilities Operations. “We selected Ameresco Quantum based on their history of working on similar projects in the Pacific Northwest and their track record of measurable results. We welcome the opportunity to implement the various facility enhancements that will represent real cost savings and enable the institution to realize effective sustainability and energy management solutions within our budget.”
Based on the comprehensive TSE energy and water audit of the college’s facilities, Ameresco Quantum identified potential energy savings measures including campus-wide interior, exterior lighting and plumbing upgrades, as well as installing a more energy efficient and controlled HVAC system to lower energy use and improve building occupant comfort. In addition, new energy efficient technologies will be installed on the campus-wide boiler system, including HVAC controls, and the installation of a new energy dashboard for stricter monitoring and regulation of the campus-wide steam system.
“We are pleased to partner with Reed College and we have worked closely with their facilities team to identify the energy savings potential and to recommend solutions that will improve the quality of the facilities and infrastructure on a budget-neutral basis,” said Mike O’Connor, Vice President, Northwest Region for Ameresco Quantum. “In addition, we have explored other funding mechanisms for the project, including a $300,000 Energy Trust of Oregon incentive that we have secured. Once the project is complete, the energy conservation and efficiency program will significantly reduce the energy demands and related costs for all facilities, and improve the living and learning environments for the entire Reed College community.”
This project with Reed College comes on the heels of Ameresco Quantum’s partnership with Portland Public Schools as well as 17 of Washington’s 34 community and technical colleges, for which Ameresco Quantum has obtained nearly $7 million in energy and operational savings grants from the Washington Department of Commerce. As one of the largest providers of energy services in the Pacific Northwest, Ameresco Quantum has implemented energy savings performance contracts for over 100 colleges, school districts, municipalities and state agencies. Ameresco pioneered the ESPC financing model, making the budget-neutral solution an increasingly popular option when modernizing a single facility or providing a comprehensive campus-wide energy management system.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for facilities throughout North America. Ameresco’s services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco provides local expertise through its 63 offices in 34 states and five Canadian provinces. Ameresco has more than 900 employees. For more information, visit www.ameresco.com.
About Reed College
Reed College was founded in 1908 in Portland, Oregon, as an independent, coeducational, nonsectarian college of the liberal arts and sciences. Reed provides one of the nation’s most intellectually rigorous undergraduate experiences, with a highly structured academic program balancing broad distribution requirements and in-depth study in a chosen academic discipline. Social life at Reed consists of a wide variety of on- and off-campus opportunities for diversion, including art, music, theatre, lectures, movies, and sports. The list of activities and organizations is long and constantly growing—with every activity open to all. For more information, visit www.reed.edu.