A local energy company will supply clean energy to help save the Doubletree Guest Suites Boston more than $1 million.

Under the terms of the agreement, the Doubletree will receive a significant portion of its energy from a 75 kW combined heat and power (CHP) system, which will be owned and operated by Waltham’s American DG Energy.

The hotel will receive a discount on the energy produced by the CHP system and reduce its carbon emissions by 321 tons of carbon dioxide annually. The value of the 15-year agreement to the company is $1.3 million, according to a statement.

American DG Energy will produce clean energy in the form of space heat and domestic hot water at the Doubletree Hotel, and sell it to the hotel at a price lower than the local energy utility. Doubletree will pay only for the energy used and will avoid all capital, installation and operating costs.

The energy will be produced with small-scale, combined heat and power equipment, located at the property site but owned and operated by American DG Energy. The company will also handle all service, maintenance and repair; therefore, Doubletree will not need to provide manpower to support the energy equipment.

The CHP system planned for the Doubletree Hotel is expected to significantly reduce the hotel’s carbon emissions by up to 321 tons of carbon dioxide each year – the equivalent to the amount of carbon dioxide absorbed by 88 acres of forest, according to a statement.