Honeywell Helps Coe College Graduate To Next Level Of Sustainability
May 23, 2014
Honeywell launched a campus-wide energy retrofit project for Coe College in Cedar Rapids, Iowa, that is expected to decrease the college’s electricity use by 25 percent and natural gas consumption by almost 50 percent, and deliver approximately $220,000 in guaranteed energy and operational savings each year.
The project also aims to reduce the environmental impact of the 20-building campus, trimming close to 2,300 metric tons of annual greenhouse gas emissions — equivalent to removing 450 cars from the road. Combined with a transition to gas-fired heating in 2010, the college expects to cut its carbon footprint in half. This will help the school meet the sustainability requirements of the American College & University Presidents’ Climate Commitment (ACUPCC), which Coe College and more than 680 other U.S. institutions have joined to help curb climate change.
Coe College will fund the $3.45-million project with a loan issued by the Iowa Economic Development Authority (IEDA) under its Energy Bank funding program, a resource available to public and non-profit entities to finance energy-efficiency improvements and renewable-energy projects. The low-interest-rate loan will help the college pay for the work without tapping into its capital budget. And the savings the improvements generate, guaranteed by Honeywell through a 15-year performance contract, should cover the project expenses.