The Peabody Companies Realize $1.75M In Utilities Savings

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The Peabody Companies (www.peabodyproperties.com), a group of property management and real estate firms, said it saved $1.75 million annually in gas and electric savings at its properties between 2019 and 2020, due to its participation in the Massachusetts LEAN Multifamily Program (www.leanmultifamily.org).

LEAN is the statewide network of local Community Action Agencies, which provide energy efficiency and other energy services at no cost to income-eligible clients.

Annual savings from gas and electrical projects at Peabody residential properties have been increasing every year for the last five years, the company said; $500,000 of this past year’s $1.75 million in savings is a result of the Peabody Companies’ partnership with Paradigm Energy Services of Somerville, a leading energy efficiency service provider for multi-family homes.

Paradigm, working in conjunction with Action for Boston Community Development and Action Inc.’s Energy Services programs has completed 39 electrical projects at Peabody Companies’ communities since the partnership began in 2018.

Additionally, ABCD and Action Energy were brought together for a Peabody Properties project to fund heating upgrades at the Presidential Courts in Stoughton.

“Paradigm Energy Services has been fortunate to build a strong partnership with Peabody in our shared quest to make homes better places to live in by improving the way they use energy,” said Mike Hogan, CEO and founder of Paradigm Energy Services.  “Peabody’s team embraces a collaborative, portfolio wide approach to improving energy efficiency that is respectful and honest; Paradigm is privileged to be their partner.”


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