How much money does energy retrofits really save?

Nearly 19,000 affordable housing units were retrofitted with energy efficient products. A study was then performed to determine how much money was saved due to these upgrades. The changes included items such as new boilers, heating controls, lighting upgrades, windows, and energy efficient refrigerators. The full report will be out soon but some details have already been released and published by The New York Times

The average savings amounted to 19% on fuel usage and 10% in electrical usage. The range of savings however was vast depending on the upgrades performed. For example in an 88-unit apartment complex that replaced the boilers and heating controls yielded an improvement of $355 per unit annually. Another complex replaced windows, lighting and refrigerators producing an $808 dollar annual savings per unit.

While the complexes modified were some of the worst performing in the city regarding energy efficiency the savings clearly indicates that reasonable upgrades can have a significant impact on an owner's or renter's annual energy costs.