Where does energy go when an object is lowered?

I understand that when you drop an object, the potential energy will convert into kinetic energy which will then be converted into vibrations of the air and ground when it hits the ground.

But what about when an object is being lowered at a constant speed? Here, the potential energy would be decreasing constantly, but the kinteic energy would remain the same. Where does the energy go in this case?

To be lowered at a constant velocity there must be a force on the falling object of mass $m$ equal in magnitude but opposite in direction to the force on the object due to the gravitational attraction of the Earth $mg$.
In falling a distance $\Delta x$ the falling object does work $mg\,\Delta x$ on whatever is providing the upward force.