Success Stories
Utah Rentals Energy
Efficiency Retrofit
Salt Lake City, UT
$100,000 7-year Term Loan
Utah Rentals is working with TBL Fund and ICAST on several property energy efficiency retrofits starting with two builds at 1124-1126 E100 S. The buildings had gas furnaces and AC systems that were over 20 years old and in need of replacing. TBL Fund provided a $100,000 7-year term loan to help cover the costs of renovations.
Problem
- 20+ year old HVAC systems were inefficent and costly
- Community owner wanted to implement energy efficent upgrades
- Projects were too small to interest mainstream institutions
Solution
- Energy Efficiency Retrofit for 2 buildings, 8 Units total
- Replaced manual in unit thermostats with programmable models.
- Replaced 20+ year old HVAC systems
- Installed ductless heat pumps
- Removed gas furnaces and capped gas lines
Financing
- $100,000 Financed
- 7-year traditional term loan
- Funded through TBL Fund and by Investors
Results
Social Impact
- Improved health and safety for 8 low-income households
- 2 local jobs created
Economic Impact
- Increased affordability of housing
- $110,498 lifetime utility cost savings
Environmental Impact
- 116,776 lbs of Carbon Emissions reduced annually
- 63,472 kWh saved annually
- Equivalent of 1,358 trees planted annually