Energy Savers Program Recognized As A Top US Retrofit Performer
The Preservation Compact announced that CNT Energy’s innovative energy efficiency program, Cook County Energy Savers, is proving that residential energy retrofits can scale-up quickly, reaching thousands of residents and delivering cost-effective, large-scale benefits.
In just 18 months, Energy Savers has retrofitted 3,500 apartments and other rental units in Chicago and neighboring communities, typically cutting energy consumption by 30 percent. The program has more than 2,500 units in construction and is on track to complete more than 8,500 retrofits by the end of this year, making it one of the country’s largest and most successful programs for retrofitting existing multi-family, rental housing.
The program is one of six key initiatives spearheaded by The Preservation Compact, a public/private partnership working to preserve and improve the supply of affordable rental housing throughout Cook County.
In their announcement, Julia Stasch, co-chair of the Preservation Compact and Vice President for Human and Community Development at the John D. and Catherine T. MacArthur Foundation, recognized its partners’ expertise and the program’s efficient design. “Energy Savers has quickly delivered on three key objectives: keeping our region’s rental housing affordable, creating new jobs, and achieving significant energy efficiency gains.”
Ms. Stasch stated, “We are excited that Energy Savers has achieved such solid results in a short period of time.”
Launched with seed funding from the City of Chicago and three major foundations, Energy Savers has a sustainable business model that covers the program’s ongoing costs through long-term financing shared by building owners and local utilities.
Energy Savers is also the model for a new region-wide effort to take energy efficiency services and financing to scale for both single and multi-family housing and for non-residential buildings. This new effort is backed by CNT Energy and Chicago Metropolitan Agency for Planning (CMAP) and is being funded by the Chicago Community Trust.
Read full press release here.