eeperformance.org

The recent energy efficiency upgrades in-stalled in this 17-story Lower Manhatten

building in accordance with the Investor Confi-dence Project (ICP) Large Commercial Protocol are projected to result in energy savings of $525,000/year and a payback period of 7 years.

SCIenergy, in association with Time Equities and Transcend Equity Development, developed an energy retrofit project for 125 Maiden Lane, a 17-story, 320,000 square foot mixed-use build-ing located in Lower Manhattan. In 2006, Time Equities acquired the building and converted it to house 39 office condominium units and eight retail units. This energy optimization project intended to comprehensively reduce energy consumption, enhance infrastructure reliability, and improve tenant comfort.

To secure project funding from third party debt and equity investors, SCIenergy aligned its existing development process with the ICP Energy Protocol for Large Commercial build-ings. Development included a detailed energy audit analyzing the heating, cooling, air distri-bution, water distribution, lighting, and con-trols systems serving the entire building. SCIe-

nergy evaluated a number of energy conservation measures, ultimately selecting a combination of measures that would meet needs of both Time Equities and the investment partners.

Knowing that traditional paper-based audit-ing techniques and engineering assumptions would not effectively mitigate investor risk, SCIenergy instead constructed a whole building computer simulation energy model in eQUEST. The models evaluated multiple interconnected energy conservation measures from a holistic level. The final project scope of work, informed by processes and techniques gleaned from the ICP Energy Protocol included:• Upgrades to the energy management system

and controls optimization

Investor Ready Energy EfficiencyTM

SCIENERGY: MAIDEN LANE, NEW YORK, NY

Environmental Defense Fund (EDF), a leading international nonprofit organization, creates transformational solutions to the most serious environmental

problems. EDF links science, economics, law and in-novative private-sector partnerships.

“Incorporating ICP into

our existing processes.

not only validated the

rigorousness of our own

development methods,

but it also gives comfort

to future co-investors

regarding the quality of

our projects.”- SCIenegy’s Steve Gossett Jr.

• Installation of modulating zone isolation dampers

• Replacement of motors with premium effi-ciency motors on all fans and pumps

• • Installation of variable frequency drives on new

motors• Heating plant retrofit and fuel switch to natural

gas• Installation of a new backup chiller

Integrating ICP’s processes for Investor Ready Energy EfficiencyTM (IREE) certification was material to securing third party funding for the project at 125 Maiden Lane. The IREE certifica-tion process gave SCIenergy and its investors confidence in both the development of the proj-ect and SCIenergy’s engineering assumptions. Documentation of the development process reduced the risks inherent to energy efficiency project development enough to allow third par-ties to wholly fund the project in partnership with SCIenergy. As a result, Time Equities initi-ated a successful project with minimal capital outlay.

“Incorporating ICP into our existing pro-cesses for projects like Maiden Lane not only validated the rigorousness of our own develop-ment methods, but it promises to give comfort to future co-investors regarding the quality of our projects”, said Steve Gossett, Jr. CEO of SCIen-ergy. “We believe a robust quality standard like ICP is a key element in unlocking the capital markets for efficiency at scale, and are excited to be a part of that.”

In order to ensure persistence of energy sav-ings over time, SCIenergy employed a number of approaches consistent with the ICP protocols

SCIenergy is an international energy management company headquartered in the USA. Dedicated to elevating building performance across owner port-folios, SCIenergy is unique in its approach that employs a clean, revolutionary business model and technology to offer original, straightforward solutions that deliver significant energy reductions, while improving the reliability, sustainability, and comfort of buildings. SCIenergy was founded by a diverse group of seasoned, intelligent building and finance leaders who have spent their careers working towards understanding the complexities and barriers of holistic building optimization.

Project Maiden Lane

Project developer SCIenergy

Investment $3,668,000

Cost Savings $525,000

Percent Savings 37.7%

Simple Payback 7 years

For more information: Matt Golden, Senior Energy Finance Consultant / matt@efficiency.org / 415 902 4546 Victor Rojas, EDF Senior Manager, Clean Energy Finance / vrojas@edf.org / 312 622 4425

SCIENERGY: MAIDEN LANE

T 512 478 5161

F 512 478 8140

edf.org

Environmental Defense Fund301 Congress AvenueAustin, TX 78701

Time Equities Incorporated (TEI) is a full service real estate firm actively involved in the acquisition, development, conversion and management of over 15 million square feet of commercial and residential properties throughout the USA, Canada and Ger-many. TEI’s professional services are also available to third parties. For almost 50 years, TEI has found success in both bull and bear real estate markets.

including a robust approach to operational performance verification using SCIenergy’s EnergyScape software platform for mainte-nance and monitoring of the newly installed measures.

Total implementation costs were $3,668,000 and predicted yearly savings were estimated at $525,000 resulting in a simple payback period of seven years.