Using the Climate Climate Initiative to Fund Energy Efficiency Projects
ESCO, Energy Efficiency, Performance Contract July 22, 2010
Today's tip is about how you can work with the Clinton Climate Initiative to get money to upgrade inefficient facility equipment. The Energy Efficiency Building Retrofit Program, a program administered by the Clinton Climate Initiative, helps hook up facility executives with Energy Service Companies, which identify projects that can reduce energy by 20 to 50 percent. Facility executives will sign up for an energy performance contract with the ESCO, and then be eligible for financing from financial institutions participating in the program. The energy savings are then used to repay the loan.
There are several benefits to utilizing the program, not the least of which is that you can tap into funds for energy upgrades that may not been have available otherwise. It offers facility executives the opportunity to package several energy upgrades into one project. And, it gives access to a wide array of experts and information that can be invaluable resources during the energy upgrades and beyond.
The overarching goal is to reduce carbon dioxide emissions from commercial facilities by accelerating facility executives’ timetables for replacing inefficient equipment.
Not all projects will be good fits for the project, however. A building that has recently been upgraded extensively, for instance, probably won’t qualify. Small buildings may not be good candidates either, due to the relatively long ROI for equipment upgrades. Most buildings in the program are 100,000 square feet or larger.
For more information, see the article in the July 2010 issue of Building Operating Management or go to www.clintonfoundation.org