Strengthening Transit Through Community Partnerships
Launched in 2008, the Energy Savers program is a collaboration between the nonprofit Elevate Energy and Community Investment Corporation (CIC), a community development financial institution. The Energy Savers program allows owners of multifamily buildings to decrease their utility costs through energy-efficient upgrades, which helps keep this housing affordable.
In 2013, the Partnership for Advanced Residential Retrofit (PARR) and the Center for Neighborhood Technology conducted a study of three multifamily buildings in Chicago that were retrofitted through the Energy Savers program. PARR used TREAT Multifamily software — an energy auditing program approved by the U.S. Department of Energy for all residential building types.The researchers note that the building owners in this study saved between $2,667 and $7,774 each year. Energy Savers provides the most cost savings when upgrades prioritize the thermal envelope and the heating and electrical systems.On average, building owners who use the Energy Savers program to finance their retrofits save between 20 and 30 percent per year on their heating, cooling, and water bills, which improves their ability to preserve affordable housing stock.