Mercy Housing teamed with Affordable Community Energy Services Company (ACE) to perform comprehensive energy efficiency and water conservation projects for most of Mercy Housing California’s properties. Teaming with ACE will allow us to perform about $6.3 million of energy and water retrofit improvements for 6,500 affordable homes.
“This project is groundbreaking in a number of ways, it may be the first loan that funds both energy efficiency and water conservation improvements at nonprofit affordable housing — without a real estate lien or guarantee by the owner of the housing,” explains Jeff Greenberger, President of ACE. The costs are paid back based on measured, weather normalized consumption reduction savings over the course of a 10-year period, during which time, ACE maintains the equipment. This project would not be possible without the commitments of Reinvestment Fund that is providing the project loan and Bright Power that is providing the technical and implementation expertise. As a result of this groundbreaking project, Mercy Housing, residents, investors, subsidized housing owners, ACE, and the environment all win.