Over the past seven years, the City has achieved operational savings through the conversion of street lights to newer fixtures using Light Emitting Diode (“LED”) technology.
Renew Boston Trust
In FY19, the City plans to begin implementing improvements which will result in utility cost savings for City facilities, under an initiative entitled “Renew Boston Trust.”
This initiative is not a trust in the traditional sense, but a program to bundle municipal utility cost savings projects.The initial step was to have an Energy Service Company (“ESCO”) conducting an Investment Grade Audit (“IGA”) of the City’s facilities portfolio to identify projects with significant utility savings potential. The City expects to select projects based upon the IGA analysis and implement the program through one or more contracts with the ESCO that will provide long-term financial guarantees on the net savings for such projects. The City plans to finance the program with general obligation bonds with debt service expected to be offset by the long-term energy savings guaranteed by the ESCO.
Enterprise Energy Management System
To improve the tracking and control of energy use, the City has re-procured services to support an Enterprise Energy Management System (“EEMS”). The current EEMS enables the City to monitor and report on the energy consumed by its 314 buildings and other fixed assets, and its vehicle fleet, and is used by the City to meet its public reporting obligation under the Building Energy Reporting and Disclosure Ordinance. The EEMS has also facilitated the identification of energy efficiency projects and billing errors that have saved the City $1.2 million in the past year alone.
Third-party electricity suppliers
The City’s electricity requirements have been met by third-party commodity supply contractors since March 2005. To date, the amounts the City has paid to its third-party electricity suppliers have been less than the amounts it would have paid if it had continued to accept default electric service from its local distribution company, Eversource