Century Bond Program Projects

Penn's Century Bond program is funded by a $300M bond issued in spring 2012 that has a 100-year term. Of that total, $200M is directed towards financing upgrades in lighting and HVAC systems that support energy efficiency and reduce deferred maintenance. The program will help Penn fulfill its goal of reducing the institution's carbon footprint as outlined in its Climate Action Plan. Of the $200M directed towards energy efficiency upgrades and deferred maintenance, approximately $8.5M has been invested in energy-efficient lighting upgrades and $190M is planned for HVAC improvements. The remaining funds will be used for other strategic priority projects.

The utility cost savings realized through lighting upgrades and HVAC upgrades will be used to offset debt service and the principal repayment of the HVAC projects will be used to fund future projects.

Lighting Upgrades

Lighting upgrades have been completed on more than 57,000 fixtures in 45 buildings at a total project cost of $8.5M.

HVAC Projects

HVAC projects that have been completed or are proceeding through design and construction include:

Building
School/Center
Phase (as of January 2019)
Total Project Cost
Chemistry 1973
School of Arts & Sciences
Complete
$15.5M
Dietrich-Van Pelt Library
Penn Libraries
Complete
$18M
Evans Building
Centennial Renaissance
School of Dental Medicine
Complete
$37M
Leidy
School of Arts & Sciences
Complete
$21M
LRSM
(Laboratory for Research on the Structure of Matter)
SAS/SEAS
Design
$21M
Meyerson
School of Design
Complete
$13.6M
Richards
Towers A&B
School of Medicine
Complete
$28.5M
Richards
Towers C&D
School of Medicine
Complete
$29.9M
Rosenthal
School of Veterinary Medicine
Complete
$20.8M
Ryan
School of Veterinary Medicine
Complete
$23.9M
Stemmler
School of Medicine
Complete
$119M