Energy Efficiency Retrofit
Size: 620,000 Sq. ft.
Market Segment: Casino/ Entertainment
Casino consisting of a 350 room hotel tower,100,000 square feet of gaming floor, several restaurants, meeting and convention space.The property is owned by Penn National Gaming from Wyomissing, PA. Rich Energy Solutions (RES) implemented Phase 1 of the energy efficiency retrofit in November of 2014.The project included demand based ventilation controls for the 6 large – 100 ton AAON energy recovery units serving the casino floor, a Del Ozone laundry solution to greatly reduce the hot water for the on-premise laundry and a showcase of more than 15,000 Philips LED lights. RES is currently implementing Phase 2 of the project with a completion of January of 2016 for $563,000.
Penn National Gaming - Backlog
RES has completed more than 20 casino energy retrofit projects for Penn National Gaming over the past 3 years. Based on current projects underway, the 10 year cash flow will exceed 30 million dollars. Cap Ex approvals have new projects scheduled through 2017.
Total Contract Price: $637,620
Utility Company Rebate: : $234,000
Annual Energy Savings: $292,440
Internal Rate of Return: 72%
Investment Recapture Period: 1.4 years
10 Year Positive Cash Flow: $2,514,984
Total Completed Contracts: $8,192,816
Rebates and Incentives: $1,369,515
Annual Energy Savings: $3,100,250
Internal Rate of Return: 45%
Investment Recapture Period: 2.2 years
10 Year Positive Cash Flow: $24,133,387