Public Schools of the Tarrytowns Select Ameresco for Energy Performance Contract
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Insights
The strategic partnership between Ameresco, Inc. and the Public Schools of Tarrytowns represents a significant commitment to sustainability and energy efficiency within the public sector. This collaboration, particularly the solar PV initiative, is poised to have a substantial impact on the energy landscape by reducing reliance on traditional energy sources and enhancing the use of renewable energy. With an annual production of over 1,066,441 kWh, the solar array serves as a notable example of how educational institutions can contribute to the broader renewable energy goals. Furthermore, the fixed-price facility improvement project funded by guaranteed energy savings illustrates an innovative financial approach that mitigates risk and offers budgetary predictability for public entities.
From a market perspective, this partnership could signal a growing trend of public-private collaborations in the cleantech sector, potentially opening new markets for companies like Ameresco. This could lead to increased investor confidence in the sector, as successful implementation of such projects often results in long-term contracts and stable revenue streams. Additionally, the emphasis on STEM education as part of the curriculum enhancement program may indirectly foster a future workforce skilled in renewable energy technologies, further supporting the industry's growth.
The announcement of Ameresco's strategic partnership with the Public Schools of Tarrytowns underlines a positive outlook for the company's financial performance, particularly in the realm of Energy Performance Contracting (EPC). The EPC model is a financially attractive solution for public entities, as it offers budget-neutral improvements with guaranteed savings. This not only provides Ameresco with a stable revenue source but also enhances its reputation as a reliable partner for future contracts.
Investors should note the potential for increased demand for Ameresco's services as sustainability initiatives gain traction across the United States. The project's alignment with NYS Energy Law Article 9 could serve as a blueprint for future initiatives in other districts and states, potentially leading to a domino effect of new opportunities for the company. The long-term financial benefits for stakeholders may include cost savings from energy efficiency, potential tax incentives and an overall positive impact on Ameresco's stock valuation.
The partnership between Ameresco and the Tarrytowns school district is a significant step forward in the integration of sustainability practices into the public education system. The comprehensive energy audit and subsequent improvements are indicative of a broader shift towards sustainable operations in public institutions. The inclusion of a STEM-focused curriculum enhancement program is particularly noteworthy, as it demonstrates an investment in not only the physical infrastructure but also the intellectual capital needed to support and advance sustainability initiatives.
From a sustainability standpoint, the project's expected annual production from the solar array is substantial, reducing carbon emissions and setting a precedent for other districts. This initiative is aligned with global sustainability goals and contributes to the decarbonization of the education sector. The community engagement aspect of the project may also lead to increased public awareness and support for renewable energy projects, fostering a culture of environmental stewardship.
Strategic partnership to enhance sustainability and renewable energy efforts with lighting improvements, energy management systems upgrades and a solar PV initiative
The proposed project aligns with the innovative Energy Performance Contracting (EPC) model under NYS Energy Law Article 9 and will ensure a budget-neutral solution, providing guaranteed savings and performance. The project aims to bring taxpayer relief, presenting a fixed-price facility improvement project funded out of the guaranteed energy savings in addition to further opportunities to engage the community.
“Our previous success with the District’s
Ray Sanchez, Superintendent of the Public Schools of the Tarrytowns, expressed his enthusiasm for the project, stating, "The District is very excited about the project. We are committed to enhancing the quality of the learning spaces for our students and staff. In addition, we are committed to making decisions that ensure a sustainable and efficient future for our school committee."
Ameresco’s commitment goes beyond project implementation. During the Comprehensive Energy Audit, students from the Public Schools of the Tarrytowns will have the opportunity to engage with Ameresco and Energia engineers. They will be able to gain insights into the Energy Conservation Measures (ECM) developed in their schools. Ameresco’s partnership can also provide a
The partnership between Energia and Ameresco reflects a strategic alliance aimed at delivering cutting-edge energy solutions to the Public Schools of the Tarrytowns. The joint project ensures a sustainable and efficient future for the educational community.
To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes solutions that help customers decarbonize to net zero and build energy resiliency while leveraging smart, connected technologies. From implementing energy efficiency and infrastructure upgrades to developing, constructing, and operating distributed energy resources – we are a trusted sustainability partner. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, utilities, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in
The announcement of customer project award is not necessarily indicative of the timing or amount of revenue from such award, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was not included in our previously reported awarded or contracted backlog as of December 31, 2023.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240305251959/en/
Media:
Ameresco: Leila Dillon, 508-661-2264, news@ameresco.com
Source: Ameresco, Inc.
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