Ameresco Completes $7.8 Million Tacoma Schools HVAC Project
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 06 2026
0mins
Should l Buy AMRC?
Ameresco announced the substantial completion of a Progressive Design-Build project for Tacoma Public Schools to modernize the HVAC system at McKinley Swing School, supporting improved energy efficiency and a more optimized learning environment for students and staff. The project, valued at $7.8 million, included an upgrade of the McKinley Swing School's aging HVAC system, which had reached the end of its life, while also navigating the requirements of the historical registry, ensuring upgrades were sensitive to the school's historic character and preservation guidelines. As portions of the building remained occupied throughout construction, the team coordinated closely with the district to maintain safe and functional educational spaces. The project achieved substantial completion on December 31, 2025.
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Analyst Views on AMRC
Wall Street analysts forecast AMRC stock price to rise
6 Analyst Rating
5 Buy
1 Hold
0 Sell
Strong Buy
Current: 25.810
Low
37.00
Averages
41.40
High
45.00
Current: 25.810
Low
37.00
Averages
41.40
High
45.00
About AMRC
Ameresco, Inc. is a cleantech integrator and renewable energy asset developer, owner, and operator. The Company's comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy supply solutions. Its North America Regions, U.S. Federal and Europe segments include the design, engineering and installation of equipment and other measures to improve the efficiency and control the operation of a facility's energy infrastructure, renewable energy solutions and services and the development and construction of small-scale plants. Its Alternative Fuels segment sells electricity and processed renewable natural gas (RNG) derived from biomethane from small-scale plants that it owns and operates and provides operations and maintenance services for customer owned small-scale plants. The Company's All Other segment offers consulting services and the sale of solar photovoltaic energy products and systems.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Ameresco Appoints New Co-Presidents
- Leadership Changes: Ameresco announced the appointment of Nicole Bulgarino and Lou Maltezos as co-presidents effective April 1, 2026, indicating a significant leadership shift aimed at enhancing management efficiency and business expansion capabilities.
- Defined Business Roles: Bulgarino will lead data center and large energy infrastructure initiatives while continuing oversight of Federal Solutions, whereas Maltezos will focus on non-federal projects and Smart Building Solutions, ensuring specialized management across business lines.
- New COO Appointment: Peter Christakis has been appointed as Chief Operating Officer, expected to drive overall performance improvements through optimized operational processes and enhanced execution, further supporting Ameresco's strategic objectives.
- Financial Targets Set: Ameresco targets $2.1 billion in revenue and $283 million in adjusted EBITDA for 2026, reflecting the company's success in expanding its backlog and demonstrating strong market demand and growth potential.
See More
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- Price Target Increase: Stifel Nicolaus raised Ameresco's price target from $37 to $38 while maintaining a Buy rating, indicating a nearly 43% upside potential at the current price, reflecting confidence in the company's better-than-expected fourth-quarter performance.
- Strong Performance Metrics: Ameresco reported $581 million in revenue and $70 million in EBITDA for the fourth quarter, showcasing its robust market performance in the energy solutions sector, further solidifying its position among promising small-cap industrial stocks.
- Optimistic Future Guidance: Management projects revenues between $2 billion and $2.2 billion for 2026, with EBITDA expected to range from $270 million to $295 million, demonstrating confidence in future growth that may attract more investor interest.
- Substantial Project Backlog: Ameresco currently holds a project backlog of $5 billion, indicating strong market demand in energy efficiency and renewable energy services, which enhances the company's long-term growth potential.
See More
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- Project Completion: Ameresco successfully completed the Energy Savings Performance Contract project for the historic Moses Building in Pittsylvania County, Virginia, aimed at enhancing building performance and sustainability while achieving long-term cost savings to ensure efficient operation of public safety facilities.
- Energy Conservation Measures: The project implemented several energy-saving upgrades, including the installation of a variable refrigerant flow (VRF) heat pump HVAC system and the replacement of aging single-pane wood windows with double-pane units, which improved energy efficiency while preserving the building's historic character to meet community comfort needs.
- Operational Challenges: Completing work in an occupied public safety facility required meticulous planning and coordination, with the Ameresco team carefully scheduling installation activities to ensure extensive upgrades were carried out without disrupting daily operations, showcasing their capability to implement improvements in complex environments.
- Strategic Implications: This project not only reflects Ameresco's commitment to energy efficiency but also provides guaranteed savings through the ESPC model for public sector partners, helping Pittsylvania County achieve its energy and sustainability goals while extending the useful life of the Moses Building.
See More
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- Project Overview: Ameresco has completed a comprehensive Energy Performance Contract for the Charlo School District in Montana, aimed at modernizing aging infrastructure to optimize learning environments, with projected annual energy savings exceeding $93,000, thereby enhancing operational performance and long-term reliability.
- Phased Implementation: The project was executed in two phases, with the first phase replacing outdated equipment at the elementary and high schools with high-efficiency heat pumps and modernized HVAC systems, while the second phase focused on junior high and additional learning spaces, replacing aging fuel-oil and propane systems to further improve energy efficiency.
- Sustainability Goals: By eliminating fossil fuel-burning equipment, the Charlo School District is committed to providing safe, comfortable, and efficient learning environments, which not only enhances day-to-day comfort but also allows resources to be directed more effectively towards classroom education, reflecting the district's dedication to sustainability.
- Funding Support: Phase 2 received partial support from a Renew America's Schools grant, enabling the district to accelerate the replacement of aging systems and further drive energy efficiency improvements, thereby strengthening facility performance and ensuring long-term benefits for students and staff.
See More
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- Energy Efficiency Improvement: The project is projected to reduce annual electrical consumption by 30% across Fort Polk's family housing, delivering over $2.6 million in annual utility and operational cost savings, thereby significantly enhancing the quality of life and economic benefits for military families.
- Technological Innovation Application: By replacing traditional HVAC systems with renewable ground-source heat pump technology, the project achieved a comprehensive geothermal conversion, improving energy management efficiency, reducing maintenance demands, and enhancing long-term reliability and energy resilience.
- Community Economic Development: This initiative not only improved living conditions for military families but also fostered local economic growth by investing in the community and supporting the local workforce, showcasing a successful model of public-private partnership.
See More
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- Strong Performance: Ameresco achieved record quarterly revenue of $581 million in Q4 2025, reflecting a 9% year-over-year growth across all business lines, demonstrating the company's robust competitive position in the market.
- Backlog Conversion: The company successfully converted a record $1.5 billion of project backlog into revenue, increasing total awarded backlog to over $2.5 billion, up 13% from last year, laying a solid foundation for future revenue growth.
- European Market Success: Management highlighted significant contributions from European operations, particularly through acquisition and partnership strategies in Southern and Eastern Europe, indicating a strategic positioning in these rapidly growing markets.
- 2026 Outlook: Ameresco projects approximately $2.1 billion in revenue and $283 million in adjusted EBITDA for 2026, representing growth of 9% and 19%, respectively, reflecting the company's confidence in future growth and commitment to ongoing investments.
See More
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- Leadership Changes: Ameresco announced the appointment of Nicole Bulgarino and Lou Maltezos as co-presidents effective April 1, 2026, indicating a significant leadership shift aimed at enhancing management efficiency and business expansion capabilities.
- Defined Business Roles: Bulgarino will lead data center and large energy infrastructure initiatives while continuing oversight of Federal Solutions, whereas Maltezos will focus on non-federal projects and Smart Building Solutions, ensuring specialized management across business lines.
- New COO Appointment: Peter Christakis has been appointed as Chief Operating Officer, expected to drive overall performance improvements through optimized operational processes and enhanced execution, further supporting Ameresco's strategic objectives.
- Financial Targets Set: Ameresco targets $2.1 billion in revenue and $283 million in adjusted EBITDA for 2026, reflecting the company's success in expanding its backlog and demonstrating strong market demand and growth potential.
See More
Ameresco's Price Target Raised to $38 by Stifel Nicolaus
- Price Target Increase: Stifel Nicolaus raised Ameresco's price target from $37 to $38 while maintaining a Buy rating, indicating a nearly 43% upside potential at the current price, reflecting confidence in the company's better-than-expected fourth-quarter performance.
- Strong Performance Metrics: Ameresco reported $581 million in revenue and $70 million in EBITDA for the fourth quarter, showcasing its robust market performance in the energy solutions sector, further solidifying its position among promising small-cap industrial stocks.
- Optimistic Future Guidance: Management projects revenues between $2 billion and $2.2 billion for 2026, with EBITDA expected to range from $270 million to $295 million, demonstrating confidence in future growth that may attract more investor interest.
- Substantial Project Backlog: Ameresco currently holds a project backlog of $5 billion, indicating strong market demand in energy efficiency and renewable energy services, which enhances the company's long-term growth potential.
See More
Ameresco Completes Energy Upgrade Project for Moses Building
- Project Completion: Ameresco successfully completed the Energy Savings Performance Contract project for the historic Moses Building in Pittsylvania County, Virginia, aimed at enhancing building performance and sustainability while achieving long-term cost savings to ensure efficient operation of public safety facilities.
- Energy Conservation Measures: The project implemented several energy-saving upgrades, including the installation of a variable refrigerant flow (VRF) heat pump HVAC system and the replacement of aging single-pane wood windows with double-pane units, which improved energy efficiency while preserving the building's historic character to meet community comfort needs.
- Operational Challenges: Completing work in an occupied public safety facility required meticulous planning and coordination, with the Ameresco team carefully scheduling installation activities to ensure extensive upgrades were carried out without disrupting daily operations, showcasing their capability to implement improvements in complex environments.
- Strategic Implications: This project not only reflects Ameresco's commitment to energy efficiency but also provides guaranteed savings through the ESPC model for public sector partners, helping Pittsylvania County achieve its energy and sustainability goals while extending the useful life of the Moses Building.
See More
Ameresco Completes Energy Upgrades for Montana School District
- Project Overview: Ameresco has completed a comprehensive Energy Performance Contract for the Charlo School District in Montana, aimed at modernizing aging infrastructure to optimize learning environments, with projected annual energy savings exceeding $93,000, thereby enhancing operational performance and long-term reliability.
- Phased Implementation: The project was executed in two phases, with the first phase replacing outdated equipment at the elementary and high schools with high-efficiency heat pumps and modernized HVAC systems, while the second phase focused on junior high and additional learning spaces, replacing aging fuel-oil and propane systems to further improve energy efficiency.
- Sustainability Goals: By eliminating fossil fuel-burning equipment, the Charlo School District is committed to providing safe, comfortable, and efficient learning environments, which not only enhances day-to-day comfort but also allows resources to be directed more effectively towards classroom education, reflecting the district's dedication to sustainability.
- Funding Support: Phase 2 received partial support from a Renew America's Schools grant, enabling the district to accelerate the replacement of aging systems and further drive energy efficiency improvements, thereby strengthening facility performance and ensuring long-term benefits for students and staff.
See More
First U.S. Army Base Completes Full Geothermal System Upgrade
- Project Scale and Investment: Ameresco and Velarium Energy successfully completed an Energy Savings Performance Contract valued at over $30 million to modernize military family housing at Fort Polk, Louisiana, involving 3,600 homes, marking a significant advancement in the U.S. Army's renewable energy initiatives.
- Energy Efficiency Improvement: The project is projected to reduce annual electrical consumption by 30% across Fort Polk's family housing, delivering over $2.6 million in annual utility and operational cost savings, thereby significantly enhancing the quality of life and economic benefits for military families.
- Technological Innovation Application: By replacing traditional HVAC systems with renewable ground-source heat pump technology, the project achieved a comprehensive geothermal conversion, improving energy management efficiency, reducing maintenance demands, and enhancing long-term reliability and energy resilience.
- Community Economic Development: This initiative not only improved living conditions for military families but also fostered local economic growth by investing in the community and supporting the local workforce, showcasing a successful model of public-private partnership.
See More
Ameresco Reports Strong Q4 2025 Earnings with Record Revenue and Growth Outlook
- Strong Performance: Ameresco achieved record quarterly revenue of $581 million in Q4 2025, reflecting a 9% year-over-year growth across all business lines, demonstrating the company's robust competitive position in the market.
- Backlog Conversion: The company successfully converted a record $1.5 billion of project backlog into revenue, increasing total awarded backlog to over $2.5 billion, up 13% from last year, laying a solid foundation for future revenue growth.
- European Market Success: Management highlighted significant contributions from European operations, particularly through acquisition and partnership strategies in Southern and Eastern Europe, indicating a strategic positioning in these rapidly growing markets.
- 2026 Outlook: Ameresco projects approximately $2.1 billion in revenue and $283 million in adjusted EBITDA for 2026, representing growth of 9% and 19%, respectively, reflecting the company's confidence in future growth and commitment to ongoing investments.
See More
