Recently the Enlightened Team participated in HUD’s Industry Day (at HUD’s encouragement) and presented a session on how PHAs can secure additional resources from rebates like 179D
and carbon credit sales based upon past energy conservation efforts including EPCs undertaken
by the PHA. The bottom line is that all the carbon reduction efforts completed by an agency can
be monetized and provide long term recurring income.
Recently the New Bedford Housing Authority (MA) issued an RFP and selected a contractor,
(our business partner, Efficiency Energy/Sequestra), to help them secure these 179D and carbon
credit monetized benefits. Sequestra provides the first digitized platform to verify and trade or
monetize carbon credits realized by entities in their existing efficiency projects. Sequestra is also
working on carbon credit trading for new building or construction projects and for the energy-
related components of water conservation projects. We expect that many PHAs and other public
agencies will follow their lead.
It is important to note that there is no upfront cost or risk to the Authority as your Agency would
only pay a fee based upon a percentage of any money secured for the Authority.
Listed below is some additional clarifying information
- EPC project implements capital improvements and services (energy and
water conservation measures) that are paid for from utility and operational cost savings reduce an
agency’s carbon footprint. Annual performance is measured and verified (M&V) with savings
documented as kWh of electricity saved, therms of natural gas saved, and kgallons(1000 gallons)
of water saved.
- These units of energy and water that are saved in an EPC are also associated with a unit of
GHG emissions (carbon equivalent) that are reduced or eliminated called carbon credits.
Appropriately measured and verified carbon credits are a tradable commodity in relatively
new compliance and voluntary markets that are global in scope.
- For an existing project with carbon credits from efficiency savings, Sequestra works with
two trading markets – Compulsory markets where businesses purchase carbon credits to
mitigate potential environmental/carbon penalties and Voluntary markets where large
Companies like Amazon. Walmart. Tesla, etc. purchase carbon credits because they can not
move quickly enough internally to meet their carbon reduction goals.
- Because of our experience with PHAs and HUD, Enlightened with our business partner Dick
Santangelo (Apollo Engineering Solutions is bringing this exciting opportunity to our PHA and
public sector clients.