Success Stories / Energy Efficiency Upgrade Delivers $111K Savings and under 1-Year Payback

Energy Efficiency Upgrade Delivers $111K Savings and under 1-Year Payback

How a building owner, cut costs, secured $445K in incentives, and boosted tenant comfort

Overview

Washington Property Company, a Bethesda-based real estate firm, was evaluating the performance of Silver Spring Plaza, a 14-story Class A office building in Maryland. Despite an earlier renovation, the property’s mechanical systems were falling behind.

Aging HVAC equipment, unreliable controls, and rising operating costs meant the building was no longer delivering the comfort and efficiency expected of a Class A office. Washington Property Company partnered with Complete Building Services and Spectrum Energy to design a long-term, cost-effective plan to restore performance and strengthen tenant satisfaction.

Challenge

High costs, low efficiency

Inefficient building performance and poor EnergyStar scores (24 out of 100)
Outdated or failing HVAC infrastructure
Risk of leaving significant incentives and tax benefits unused

Solution

Phased upgrades, lasting value

Spectrum Energy developed a cost-effective plan based on an ASHRAE Level 3 audit and incentive funding strategy.

Improvements were delivered in two phases:

Phase 1: BAS Renovation – Upgraded outdated controls and sensors, installed new valves, and optimized programming for comfort and efficiency.
Phase 2: Equipment Upgrades – Replaced the cooling tower with a high-efficiency model and added VFDs to pumps for better load matching.

This approach maximizes available incentives while ensuring immediate savings and a roadmap for long-term performance.

Details:

Owner
Washington Property Company

Mechanical Partner
Complete Building Services (CBS)

Building Type
Class A Office

Size
259,981 sq. ft. | 14 Stories

System Upgrades
BAS, cooling tower, VFDs

Incentives Captured
$241,000 utility + $204,000 federal tax

Annual Savings
$111,000 | 839,215 kWh

Download PDF

Results

Savings that add up

Financial & Energy Savings

Annual Savings
$111,000 in energy cost reductions and 839,215 kWh saved each year.

Fast Payback
Project achieved ROI in less than 1 year

Incentive & Tax Benefits

Utility Incentives
$241,000 secured from PEPCO (44% of project cost).

Federal Tax Reductions
$204,000 in deductions captured, lowering the net investment to $105,000.

Comfort & Sustainability

Improved Building Performance
New BAS, cooling tower, and VFDs improved comfort and tenant satisfaction.

Environmental Impact
Savings equate to removing 129 cars from the road or planting nearly 10,000 trees.

Conclusion

The outcome was more than just an equipment upgrade. With $111,000 in annual energy savings, $445,000 in captured incentives and tax benefits, and a payback period of under one year, Silver Spring Plaza is now operating with the efficiency, comfort, and cost control that every building owner seeks.

For building owners, this project demonstrates the value of pairing smart funding strategies with the right energy solutions. Spectrum Energy helps owners achieve fast ROI, long-term operational savings, and satisfied tenants by turning underperforming buildings into competitive assets.

Start your project with Spectrum