Partnering with utility providers to maximize equipment incentives and rebates

Peabody Properties, a full-service real estate and property management firm, has attained a total of $15 million in no-cost energy retrofits throughout its portfolio of managed communities as a result of recent retrofitting projects.

With the addition of new technology to existing systems, savings has been realized in lighting, refrigeration, boiler, water and weatherization:

• Lighting retrofits value:  $7,329,237
• Boiler retrofits value:  $5,778,504
• Water retrofits value:  $315,41
• Refrigeration retrofits value:  $683,013
• Weatherization retrofits value:  $1,739,629

Combined, these efforts equal $15,845,796 in no-cost energy retrofits, and millions of dollars in energy savings, which have been passed on to Peabody Properties’ communities and residents, as well as reinvested into other energy-efficient efforts for additional savings and lessened environmental impact.  Additionally, the owners of these properties have also realized positive impacts to their bottom lines.

These retrofits are the result of positive, established working relationships with many Massachusetts-based groups whose missions are focused around bettering the lives of affordable housing residents throughout the state through energy improvements.  In particular, Peabody Properties has worked with the Low Income Multi Family Retrofit Program (LEAN), and specifically the team at ABCD, led by Ken Rauseo, to secure these equipment retrofits that provide better functionality with reduced energy usage.

“We recognize our duty to be fiscally responsible, as well as energy conscious, throughout our communities,” said Scott F. Ployer, vice president of facilities and capital planning for Peabody Properties, Inc.  “The success we have seen within PPI in energy conversation would not have been possible without these partnerships, which have bettered the lives of our residents while producing substantial savings and a more positive environmental impact.”