MCAP Case Studies

MCAP CASE STUDY #1 - Coppin State University

Challenge: Coppin State University had a need to make energy-saving improvements to facilities, upfront capital to make upgrades, and finding a solution that would not adversely impact their debt profile.

Solution: MCEC was able to deliver 100% financing on project costs through a tax-exempt debt issue by guaranteeing minimum energy savings performance by an ESCO. Cost savings delivered were beyond projections. After loan term is completed, all of the assets and future energy saving revert to Coppin State.

Scope-of-Project: Lighting, HVAC, solar hot water, building envelope, chiller, water conservation measures.

Project Capital:

$6.2 million - 100% financing

Avg. Annual Energy Savings:

$609, 900

Avg. Annual Debt Service:

$570,000

Utility rebates:

$200,000

Financing Term/Loan Rate:

15-years, 3.15%

Lender:

SunTrust Bank

ESCO (Energy Service Co.):

Energy System Group

 

 

MCAP CASE STUDY #2 - University of Maryland Baltimore County

Challenge: University of Maryland Baltimore County had a need to make energy-saving improvements to facilities, upfront capital to make upgrades, and finding a solution that would not adversely impact their debt profile.

Solution: MCEC was able to deliver 100% financing on project costs through a tax-exempt debt issue by guaranteeing minimum energy savings performance by an ESCO. Energy cost savings are able to pay for the project. After loan term is completed, all of the assets and future energy saving revert to UMBC.

Scope-of-Project: Lighting, water irrigation upgrades, equipment controls to include demand control ventilation.

 

Project Capital:

$5.2 million, 100% financed

Avg. Annual Energy Savings:

$693,000

Avg. Annual Debt Service:

$613,000

Utility rebates:

$629,190

Financing Term/Loan Rate:

10 years, 3.45%

Lender:

SunTrust Bank

ESCO (Energy Service Co.):

Noresco

 

MCAP CASE STUDY #3 – National Aquarium

Challenge: The National Aquarium was seeking lowest cost financing for energy saving improvements.

Solution: MCEC was able to issue a tax-exempt lease to finance the project

Scope-of-Project: Lighting, HVAC, chiller, water conservation measures, kitchen hood, transformer replacement, building envelope, boiler replacement.

 

Project Capital:

$3.4 million

Leasee:

MCEC

Sub-Leasee:

National Aquarium in Baltimore, Inc. & National Aquarium in Baltimore Foundation, Inc.

Utility rebates:

$368,000

Financing Term/Loan Rate:

15 years, 3.680%

Lender:

Bank of America
Public Capital Corp.

 

For more information about MCAP financing options, please contact Wyatt Shiflett, Director of Finance Programs at:

 

phone 443-949-8505

email wshiflett@mdcleanenergy.org