Energy Efficiency with Fiscal Restraint
Energy Performance Contracting enables municipalities to make capital improvements for energy effeciancy without utilizing capital budget funds.
Definition of an energy performance contract: Energy Efficiency and Capital Improvement Projects that are Funded Entirely Through Resulting Energy and Operational Savings Which is Guaranteed by the Energy Services Contractor.
- Enabled by F.S. 489.145
- Bundled Package of Energy Conservation Measures (ECMs) that Provides an Overall Self-Funding Program
- Savings Must be Guaranteed by the ESCO
- Total Project Must Fully Fund in a Term of 20 Years or Less
- Project Cash Flow Must be Positive Each Year of the Term
Energy Systems Group
The City contracted with Energy Systems Group, an Energy Services Company, beginning in 2012 for an energy performance contract to lower our municipal carbon emissions.
See West Palm Beach's performance contract here!
Goals of the energy performance contract for the City of West Palm Beach were:
- Reduce Utility Consumption & Expense Across City
- Support Achievement Toward City’s Sustainability Plan Goals
- Fund Needed Work to Alleviate Strained Capital Budgets
- Implement Leading Technologies Such As LED Street Lighting