A few months ago, Perennial Washington Street was awarded a $400,000 grant as part of our Conserving Hoosier Industrial Power (CHIP) program. This is a massive $1.9 million project composed of two phases: a building controls upgrade and conversion to variable air flow and then the addition of a building heat recovery system.
The first phase of the project is about 20% complete now, so a few weeks ago, OED's grant specialist, Patrick, toured the facility to check in on the progress, which is just a short distance away from our office in downtown Indianapolis.
As mentioned above, the second phase of Perennial Washington Street's project is to add a heat recovery chiller to the building. This will make chilled water for cooling the building and it will capture the heat generated, piping it back into the building for use. Equipment has been received and initial site work has started.
By implementing these changes, this project is expected to save the business $300,000 per year, with a payback around 5 years. We're looking forward to the project's completion and can tell Perennial Washington Street is excited as well.
Stay tuned for more updates on their progress -- and on all of our CHIP grantees' great work.