Financing Amount: $15,000,000
The Philadelphia Energy Authority, CCG PACE Funding and Industrial Metals Manufacturing (Rhoads) executed the financial close to use C-PACE financing for an energy efficiency project for Rhoads Industries’ Building 57. The building was originally built by the U.S. Navy in 1919 and was in significant disrepair when purchased by Rhoads in 2014. The project is a substantial renovation of ~2/3 of the building’s footprint. Energy efficiency measures financed include high efficiency HVAC, interior LED lighting and controllers, building envelope (roof and wall) systems. Energy savings calculations are based on improvements above IECC-2018, Philadelphia’s energy code baseline. The building is located at 1900 Kitty Hawk Ave at the Philadelphia Navy Yard.