The Hilton Los Angeles/Universal City took advantage of Los Angeles County’s Property Assessed Clean Energy (PACE) financing to fund $7 million worth of sustainable upgrades. The Hilton project is the largest commercial PACE project in the US, more than twice the size of two similar projects completed last year at just over $3 million each.
The Hilton project will result in an annual energy savings of $800,000 and water savings of $28,000conserving more than 2.8 million gallons of water. This comprehensive retrofit includes energy efficient glass installations and LED lighting, which is expected to reduce energy consumption by 50 percent. Additionally, 500 low-flow showerheads will be installed and 250 bathtubs with showers replaced as part of the water conservation upgrade to save the equivalent of one month of the property’s existing water usage. Moreover, older HVAC systems were replaced with new energy efficient ones.
“We applaud the Hilton Los Angeles/Universal City as leaders in energy efficiency and for demonstrating a strong commitment to sustainability,” says David Gabrielson, the executive director of PACENow, which heads the program. “PACE has now been used by nearly 200 building owners in eight states and the District of Columbia, proving that it overcomes barriers that have kept building owners from doing extensive efficiency, renewable energy, and water conservation upgrades. PACENow expects to see as many as 40 programs running throughout the U.S. within a year.”
Los Angeles County’s PACE program has built a robust funding platform that benefits commercial, industrial, and multi-family property owners in the county by providing building owners with the flexibility to choose their own PACE project funder and negotiate the rate and terms. Eligible improvements include: heating, ventilation, and air conditioning, solar PV, fuel cells, occupancy and day-lighting sensors, building envelope, and high efficiency lighting fixtures.
