Braintree, MA – The Peabody Companies announced an annual savings of $1.75 million in gas and electric costs at its properties in 2019-2020, stemming from its participation in the Massachusetts LEAN Multifamily Program.
LEAN is the statewide network of local Community Action Agencies, which provide energy efficiency and other energy services at no cost to income-eligible clients. It brings together over 40 years of experience and funding from all different sources to identify, scope, manage, inspect and pay for energy efficiency installations in residential housing.
The LEAN Program is tailored to deliver complete, cost-effective gas and electric efficiency measures for affordable housing across Massachusetts.
Annual savings from gas and electrical projects at Peabody residential properties have been increasing every year for the last five years; $500,000 of this past year’s $1.75 million in savings is a result of the Peabody Companies’ partnership with Paradigm Energy Services of Somerville, recognized as a leading energy efficiency service provider for multi-family homes.
Paradigm, working in conjunction with Action for Boston Community Development (ABCD), has completed 39 electrical projects at Peabody Companies’ communities since the partnership began in 2018, including Commerce Apartments in Roxbury, Hearth at Olmsted Green in Dorchester, Julia Martin House in Jamaica Plain, Nate Smith House in Jamaica Plain, Roxse Homes in Boston, School House Apartments in Mattapan, and The Metropolitan in Boston.
Additionally, ABCD and Action Energy were brought together for the first time on a Peabody project to fund heating upgrades at the Presidential Courts in Stoughton. ABCD initially committed to funding more than $196,000 on the boiler upgrades, and Action Energy then offered to fund $100,000 additional for the electrical work.
Together, the two groups provided $296,130 for the project. These high efficiency upgrades are being installed now and will provide increased comfort for residents this heating season and for years to come.
Savings from weatherization upgrades at several properties also were achieved, with improvements having an immediate and significant effect on the comfort of residents.
“Paradigm Energy Services has been fortunate to build a strong partnership with Peabody in our shared quest to make homes better places to live in by improving the way they use energy,” said Mike Hogan, CEO and founder of Paradigm. “Peabody’s team embraces a collaborative, portfolio-wide approach to improving energy efficiency that is respectful and honest; Paradigm is privileged to be their partner.”
In July, the Peabody reached a milestone of $20 million in LEAN funding in no-cost energy retrofits for its portfolio of communities; to date that amount has increased to $20.4 million.
“To say that the LEAN Multifamily Program is a valuable no-cost resource is an understatement,” said Mark Dubos, director of facilities, energy management & sustainability with The Peabody. “In partnership with the outstanding team at Paradigm Energy Services, we have realized remarkable savings while at the same time adding to the comfort of our residents.”