The Potomac Electric Power Company (Pepco), an electric utility based out of Washington DC, has awarded ICAST a three-year contract to implement its new energy efficiency program for low-income multifamily housing in the District of Columbia. ICAST will focus on deep retrofit measures such as energy-efficient heat-pump HVAC and hot water upgrades to maximize savings. Income qualified properties with three or more apartments can receive Pepco’s cash incentives for energy-saving products installed throughout the property, including common areas and inside residents’ units.
ICAST’s success with implementing similar programs for utility companies such as Berkshire Hathaway Energy and Ameren, combined with its nationally recognized one-stop-shop service model that offers multifamily clients a host of services from property assessment to staff training to access to financing, made ICAST a natural fit for Pepco’s program. The hassle-free approach ensures property owners and managers receive the best possible incentive for their energy efficiency upgrades with the least amount of effort.
“By participating in the Pepco program, our MF clients can increase the value of their property while reducing their operating costs, during these trying times,” according to Ravi Malhotra, ICAST’s founder and President. “While making their properties safer, more affordable, and comfortable for their low-income residents.”
This program will launch on January 1, 2021. It is ICAST’s first utility program on the East coast. It represents another step in ICAST’s efforts to expand its triple bottom line solutions to benefit under-represented and low-income communities nationally.