Aegis Energy Services, Inc leads industry growth through Shared Savings

Aegis Energy Services, Inc leads industry growth through
Shared Savings

Even the most energy conscious building and facilities managers need to consider one major question when it comes to converting to a sustainable green energy solution for their property; what will it cost?

In many cases, Aegis Energy Services, Inc has taken capital investment out of the equation with its Shared Savings program. The program, delivered through the company’s award-winning Powervestors division, allows clients to take advantage of energy cost savings from an Aegis Combined Heat and Power (CHP) system without requiring a major up-front expenditure.

Although packed with potential, the growth curve for the Combined Heat and Power, or CHP industry has lagged behind other green energy expenditures because of a struggling economy where building owners may lack the capital to invest in energy-saving technology.

By taking capital part of the equation off the table, Aegis Energy Services, Inc is leading the way to stronger growth in the Combined Heat and Power industry, and wide-spread energy savings for buildings.

Aegis’ unique Shared Savings program allows clients to take advantage of energy cost savings from an Aegis Combined Heat and Power system regardless of their capital improvement budget. Aegis Energy Services is responsible for the total installation and operating costs of the system. Through the host site’s purchase of electricity, at a discount from prevailing utility electrical rates, Aegis is able to amortize the capital cost of the equipment. It’s a win-win for both the installer and the building, which is able to enjoy energy savings without any upfront or operating costs.

 This allows Aegis Energy Services, Inc to address the desire for energy efficiency and savings in the face of constantly fluctuating economic conditions.

 “When the economy turned down five years ago, our business took off,” said Lee Vardakas,

President and General Manager of Aegis Energy Services, Inc. “We shield our customers against higher energy costs.”

 Stevenson Commons in the Bronx, NY is a perfect example of a building that has benefitted from the Aegis’ Shared Savings program. Looking to convert from burning No. 6 heating oil due to city mandate, the building management at Stevenson looked into Combined Heat and Power systems through Aegis.

 While a detailed analysis of the building’s energy usage showed tremendous cost savings and reductions in emissions, Stevenson Commons was unable to generate support for the financial resources to design, install, and maintain a cogeneration system.

 The building management entered into a 15 year Shared Savings Agreement with Aegis Energy Services, Inc, allowing for the installation, operation, and management of the Combined Heat and Power systems in its three buildings (7 total units) at no initial cost to the community.

Aegis Energy Services, Inc owns and operates these on-site utilities and shares the substantial energy savings with the building. In addition to annual energy savings, Stevenson Commons can take advantage of savings through the annual amortization of the capital cost of the system allowing the building management the opportunity to buy the equipment at any time during the contract period at a decreasing cost.

In 2009, Aegis worked with Sahara Sam’s Oasis Indoor and Outdoor Water Park in West Berlin, New Jersey to develop a Shared Savings agreement. The resulting system has yielded approximately $10,000 per year in savings to the facility, again with no capital outlay for the company.

“This Shared Savings program is a great solution for long-term savings,” said Ilya Girlya, President and CEO of Sahara Sam’s. “I would recommend that any aquatic facility strongly consider CHP.”

Additionally, Aegis Energy Services, Inc is including new piping to the outdoor portion of facility that is expected to double the annual return, again with no capital expenditure from the site.

At the New Haven Jewish Community Center in Woodbridge, CT, Aegis replaced an older system with a new Aegen ThermoPower 75kW system through the Shared Savings program. The new system dramatically increased system run time, which resulted in more recovered heat and additional electricity provided to the building’s switchgear. The site now has to purchase less electricity from the grid which has added to the savings that the host site realizes annually.

“We have enjoyed a strong working relationship with Aegis for years,” said Scott Cohen, CEO of the New Haven JCC. “That made this decision, to receive additional savings with no up-front cost, an easy decision to make.”

Recently, Aegis Energy Services, Inc announced the installation of a fourth Combined Heat and Power system at the Tudor City Place complex in New York City. Pleased with both the energy savings and emissions reduction achieved with previously installed systems at 2 Tudor City, 5 Tudor City, and 45 Tudor City , the building management wanted to expand the same cost saving opportunity to the building known as 25 Tudor City.

“A significant portion of Aegis Energy Services’ sales come from repeat business with existing customers who are happy with the promised energy cost savings that Aegis CHP systems achieve,” said Vardakas. “Repeat business for any industry, especially for us, is great testament to delivery of promised results and unparalleled service.”



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