COGENERATION HVAC BMS SYSTEMS RETHINK ENERGY ABOUT US CONTACT US Success Stories Cogeneration Solution Saves Edge Fund Nearly $2 Million The Challenge Edge Fund, Inc., the owner of a multi-tenant office building at 1540 Broadway in New York City, wanted to find a cost and energy-saving solution to the building’s power needs. In addition to creating savings, this new system would need to enable Edge Fund to create a new revenue stream through the sale of energy. The Project Mechanical Energy Solutions worked with Edge Fund to create a customized solution that included a combined heat and power (CHP) cogeneration system, a state-of-the-art building management system, and a 12-year energy service contract that would save millions. MES installed a 1500 kW cogeneration module (CHP ) that would power the existing electric and mechanical systems. The new CHP unit draws power from a reciprocated engine fueled by natural gas, which is cleaner than and less expensive than using utility-generated electricity. The system’s exhaust heat recovery exchanger completely replaced the need to draw from utility power sources for heat in the winter and electricity in the summer. The project integrated a building management and operations system that keeps the owners up-to-speed with energy use, efficiency, and issues that come up periodically. Their energy service contract provides a premium maintenance plan that guarantees a minimum of 95% up-time throughout the year. The Payoff By installing and implementing this custom system, MES was able to create enough energy to meet the needs of running 1540 Broadway. They now have the option of submetering and selling the power generated to its commercial tenants for an additional revenue stream. In total, our client has seen: A 67% reduction in electric use and more than $2.2 million in cost savings. A 73% reduction in steam use and nearly $290,000 in cost savings. A total net cost savings of more than $1.8 million. The creation of a net operating income of more than $1.1 million annually. By choosing to pursue cogeneration as the solution to their needs, our client also qualified for a number of tax deductions and incentives, including: A $602,000 federal renewable energy investment tax credit. A $1.2 million depreciation deduction. Upward of $1.9 million in NYSEDRA incentive dollars. Environmental Responsibility with Cogeneration Systems Adding a cogeneration system to your property can both increase energy efficiency and reduce primary energy costs up to 40%. You’ll also decrease emissions of CO2 and other harmful gasses into the atmosphere. Learn More Learn How Updating Your HVAC Systems Can Save You Money Did you know that HVAC consumes approximately 40% of a building’s total energy envelope? See how MES can help you reduce those costs and help your buildings become more energy efficient. Learn More Contact Us Tell us about your energy, HVAC, and building management challenges. First Name* Last Name* Company Phone Email* Comments* Cogeneration HVAC BMS Systems Success Stories Rethink Energy About Us Contact Us Privacy Policy Cookie Policy Terms & Conditions Follow us Copyright © 2021 Mechanical Engineering Solutions - All Rights Reserved 37-18 Northern Blvd, Suite 517, Long Island City, NY 11101 | 718-440-3179 This website uses cookies to provide you with the best browsing experience. Find out more or adjust your settings. Accept