New York – Aegis Energy Services Inc. has reached an agreement with Equity Residential Properties to install combined heat and power (CHP) systems in 16 of its large multifamily residential properties in the Northeast. The systems will be installed in four Equity Residential properties in Boston and 12 in New York City. The Aegis systems will allow six of the properties to convert from oil burning boilers to a cleaner, more efficient natural gas solution.
The installations are expected to produce an annual savings of over $1.2 million.
Aegis Energy’s CHP systems deliver both heat and electricity, from a single fuel source (natural gas). The company said the high-efficiency systems are designed to significantly reduce energy costs and emissions.
Installations will include four black-start capable PowerVerter systems, one black-start capable PowerSync, and 11 ThermoPower systems. Aegis said its black-start capable systems provide daily savings and standby power with the ability to generate both heat and electricity during a grid failure.
“We were pleased to be able to secure substantial funding for four of the New York City sites from the New York State Energy Research and Development Authority, and four Massachusetts sites through Mass. Save grants,” said Lee Vardakas, president of Aegis Energy Services..