Energy Savings Performance Contracting
Are you facing outdated equipment, increasing maintenance and energy costs, and limited budgets? Energy Savings Performance Contracting (ESPC) is a tool for paying for upgrades through the savings stream over time.
Energy Savings Performance Contracting (ESPC) is a legislated financing tool that allows public entities to use guaranteed energy and operational savings as revenue. The ESPC approach allows schools, universities, and state/local governments to fund comprehensive facility improvements on a revenue-neutral basis, simply by re-directing existing and operational waste in their budgets. With an annual growth of over 13%, the ESPC concept has emerged as a preferred alternative to design-bid-build procurement, with over $7 billion invested by public entities in the U.S. each year.
BENEFITS OF ESPC
No Risk: Contractual savings guarantee eliminates risk of revenue shortfall for public entity
Leverage: Combing qualifying improvements such as lighting, water, HVAC, and building envelope improvements allows for comprehensive improvements
Revenue-Neutral: Using ESPC requires no tax increase or request for additional appropriations
Stewardship: ESPC projects typically save millions of taxpayer dollars over their lifetime
Comfort and Aesthetics: High-efficiency equipment lasts longer, looks better, and provides more comfort to building occupants
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