As of this month, more than 10,000 apartment units in the Chicago metropolitan area have been retrofitted with energy efficiency improvements through the Energy Savers program. Energy Savers, a one-stop shop that helps multifamily building owners make energy efficiency improvements to their properties, saves building owners 30 percent on utility costs on average ($10,000 per year for a 24-unit building), allowing landlords to keep rents reasonable because of those savings. Additionally, the program has cut more than 13,000 metric tons of carbon dioxide, created nearly 400 jobs, and provided nearly $10 million in loans and grants to complete the building improvements.
Lou Sopcic owns a 96-unit building located in the Rogers Park neighborhood of Chicago. “Going through the Energy Savers program made owning this building viable,” said Sopcic. “Energy efficiency for this building is the difference between being able to balance expenses and losing our property.” The savings helped Sopcic preserve nearly 100 units of affordable housing.
The Energy Savers program helps building owners navigate the entire process, from receiving an assessment to completing the work. An expert team conducts an on-site building assessment to help owners identify the most cost-effective investments for the building. The program offers low fixed-rate financing for the rehab, guidance on available rebates or incentives, construction oversight, and annual savings reports.
The Energy Savers Multifamily program is currently open to owners of multifamily building with five or more units located in the seven-county Chicago metropolitan region and the City of Rockford. We also now also offer Energy Savers programs for nonprofits and public buildings.
The Energy Savers program is a joint program of CNT Energy and the Community Investment Corporation (CIC). For more information visit www.cntenergy.org/energysavers and http://www.cicchicago.com/energy-savers/energy-savers-can-save-you-money/.