March 2, 2016
Using a Shared Savings Model to Fund Energy Efficiency Upgrades
Adelphi University, located in Garden City, New York, is a member of the Commission on Independent Colleges and Universities (cIcu). The university recently implemented a new co-generation central heating plant that would reduce their kilowatt usage by 41%. They turned to Ecosystem Energy Services to provide and install the energy efficient equipment and to First American Education Finance for the financing portion. First American’s unique funding solution had interest-only payments during the construction phase and was completely budget-neutral to align the eventual annual energy savings to the cost of the project. By working with both First American and Ecosystem Energy Services, Adelphi University was able to immediately realize the cost savings of the project.
“We’re very happy with the way that this has all come together and First American has been a great partner to the university in this whole process.”
-Tim Burton, Senior VP & Treasurer, Adelphi University