Binghamton Housing Authority NYSERDA Siemens Partner Save Energy

June 20, 2007

The Binghamton Housing Authority announced today that, with the help of funding from the New York State Energy Research and Development Authority (NYSERDA), it will upgrade 641 apartments at three public housing sites in the city. The improvements will be made at the North Shore, Saratoga and Carlisle Hills Apartments.

“Along with funding from NYSERDA, the dollar savings from these upgrades will pay for the entire project. Our residents will receive the benefits of greater comfort and the Authority will benefit from the ongoing dollar savings of energy efficiencies,” said David Tanenhaus, executive director of the Binghamton Housing Authority. “Savings from the improvements are guaranteed to be more than $364,000 per year.”

NYSERDA is providing a total cash incentive of $620,000, with $420,000 from its New York Energy $mart^SM Assisted Multifamily Program and $200,000 from the Office of the New York State Attorney General's “Mitigation Funds.” Also, through the New York Energy $mart Loan Fund, NYSERDA is buying down the interest rate of the $2.4 million-dollar loan with an additional incentive of nearly $610,000, bringing NYSERDA's total contribution to $1.2 million in incentives. The money will help pay for the $5.9 million project. NYSERDA's Assisted Multifamily Program provides a range of incentives to New York State publicly assisted, multifamily buildings for rehabilitation and construction of measures to improve energy efficiency and energy management, thus reducing the energy burden for low-income consumers.

Attorney General Andrew M. Cuomo said, “I am pleased that the settlement reached by this office is providing New York State with over six million dollars for clean energy projects, and I am glad that this first installment of the funds will go toward money-saving clear air initiatives. We will continue to aggressively enforce the Clean Air Act to ensure the protection of our environment and the health and safety of New Yorkers.”

“We at NYSERDA are pleased to support the Authority's energy efficiency plans through our Assisted Multifamily Program. The benefits gained through these upgrades will result in impressive energy savings, reduced water usage, and a more comfortable living environment for the residents,” said NYSERDA's Acting Director of Residential Programs Karen E. Villeneuve. “NYSERDA commends the Binghamton Housing Authority for their commitment and drive to implement these important measures, which will enable them to save money that can be directed toward other important initiatives.”

The improvements will annually save about 1.1 million kilowatt-hours of electricity, 112,900 therms of natural gas and 23.9 million gallons of water. Dollar savings over the 20-year term of the contract are expected to exceed $6.6 million beyond the cost of installing the improvements.

The energy-saving project was designed and will be executed by Siemens Building Technologies, Inc. Siemens makes buildings more comfortable, safe, productive and less costly to operate. Upgrades will include:

• Improved common area and apartment lighting
• Replacing expensive electric heat with more efficient natural gas heat
• Energy Star refrigerators at North Shore and Saratoga
• New thermostats
• Caulking and weather stripping to prevent heat loss
• Low-flow toilets and showerheads
• Faucet aerators
• New energy-saving windows at Saratoga
• Carbon monoxide detectors in each apartment

“This is the kind of project Siemens looks for,” said Jerry Wilson, district

manager for Siemens Energy and Environmental Solutions. “Everybody wins. Residents of the Housing Authority win greater comfort, the Authority wins greater savings, and the community wins cleaner air from a reduced need for electricity generated by coal or oil.”

The scope of improvements will vary from site to site, depending on need and calculations of financial payback. Approximately 1,500 people live in the 641 units.

“The costs of electricity and gas show no signs of leveling off,” said Tanenhaus, of the Binghamton Housing Authority. “This project will allow the Authority to more aggressively control its energy expenses and improve the quality of life for residents.”

The work is expected to be completed by August 2008.

About NYSERDA

The New York State Energy Research and Development Authority (NYSERDA) is a public benefit corporation created in 1975 by the New York State Legislature.

The New York Energy $mart Program is funded through a regulatory assessment on the consumer electricity bills of the investor-owned utilities. The Public Service Commission authorizes NYSERDA to develop and operate public-benefit programs that improve energy efficiency, promote a cleaner environment and benefit the State's economy. The programs are open to residential, commercial and industrial customers that pay the assessment. For more program information, visit NYSERDA.

Contact:

Mike Power
mike.power.ext@siemens.com
Phone: 585-797-2262

NYSERDA
Colleen Ryan
cqr@nyserda.ny.gov
Phone: 866-NYSERDA ext. 3359