If you’re looking for ways to reduce your energy costs and improve your building’s energy efficiency, an energy performance contract (EPC) might be the solution you need. EPCs are agreements between a building owner or occupant and an energy service company (ESCO) that identify, design, and install energy conservation measures (ECMs) to reduce energy consumption and save money.
At Rise Energy, we’re committed to helping you find the best energy solutions for your needs. As Lubbock’s local guide to energy, we offer a range of services, including solar and power storage systems, commercial and residential energy brokerage, and more. Our team of experts can help you navigate the complex world of energy performance contracts and find the right ESCO to meet your needs.
By partnering with an ESCO through an EPC, you can make building improvements that reduce energy and water use and increase operational efficiency. The ESCO will install the ECMs and guarantee their performance, often arranging financing so that you can pay for today’s upgrades with tomorrow’s energy savings. With Rise Energy as your guide, you can be confident that you’re getting the best possible service and the most cost-effective solutions for your energy needs.
Understanding Energy Performance Contracts
An Energy Performance Contract (EPC) is a financing mechanism used to implement energy efficiency measures in existing buildings or facilities without upfront capital costs. EPCs are typically used in the public sector, but can also be used in the private sector. EPCs are a key tool in helping organizations reduce energy consumption, lower operating costs, and reduce greenhouse gas emissions.
Key Components
An EPC is a contract between the building owner and an Energy Service Company (ESCO). The ESCO provides a range of services, including energy audits, engineering, design, installation, and maintenance of energy efficiency measures. The ESCO guarantees that the energy savings will cover the cost of the project over the contract term, typically between 10 and 20 years.
The key components of an EPC include:
- Energy Audit: The ESCO conducts a comprehensive energy audit to identify energy-saving opportunities and assess the potential savings.
- Energy Efficiency Measures: The ESCO designs and installs energy efficiency measures, such as lighting upgrades, HVAC upgrades, and building envelope improvements.
- Guaranteed Savings: The ESCO guarantees that the energy savings will cover the cost of the project over the contract term.
- Measurement and Verification (M&V): The ESCO monitors and verifies the energy savings to ensure that the guaranteed savings are achieved.
Types of EPCs
There are two main types of EPCs:
- Energy Savings Performance Contract (ESPC): The ESCO guarantees a minimum level of energy savings, and the building owner pays the ESCO a share of the savings.
- Shared Savings Contract (SSC): The ESCO and the building owner share the energy savings.
At Rise Energy, we offer a range of energy services, including solar and power storage systems, commercial and residential energy brokerage, and energy efficiency measures. Our team of experts can help you navigate the complex world of energy performance contracting and find the best solution for your needs. We are committed to providing our customers with the highest level of service and support, and we are dedicated to helping you save money and reduce your carbon footprint.
The Role of ESCOs
ESCOs, or Energy Service Companies, are an essential component of energy performance contracting. An ESCO is a company that specializes in identifying energy-saving opportunities, designing and implementing energy-saving projects, and guaranteeing the energy savings.
Selection Process
When selecting an ESCO, it is important to consider their experience, track record, and expertise. Rise Energy is Lubbock’s local guide to energy and can help you with the selection process. Our team of experts has years of experience in the energy industry and can help you find the right ESCO for your needs.
Responsibilities and Services
ESCOs are responsible for conducting energy audits, identifying energy-saving opportunities, and designing and implementing energy-saving projects. They also guarantee the energy savings and provide ongoing monitoring and maintenance services to ensure that the savings are sustained over time.
At Rise Energy, we understand that energy performance contracting can be a complex process. That’s why we offer a range of services to help you navigate the process and find the right ESCO for your needs. From solar and power storage systems to commercial and residential energy brokerage, we are your one-stop-shop for all your energy needs.
In summary, ESCOs play a critical role in energy performance contracting by identifying energy-saving opportunities, designing and implementing energy-saving projects, and guaranteeing the energy savings. At Rise Energy, we are committed to helping you find the right ESCO for your needs and providing you with the best possible service.
Financial and Legal Aspects
Financing Models
Energy performance contracts (EPCs) are a financing mechanism that allows building owners to implement energy efficiency measures with little or no up-front cost. EPCs are executed by Energy Service Companies (ESCOs) that coordinate the installation of new equipment and split the value of energy savings with the customer throughout a contract term. The energy efficiency improvements are owned by the customer, and the ESCO is responsible for financing, designing, installing, and maintaining the energy efficiency upgrades.
At Rise Energy, we offer financing models that are designed to meet the specific needs of our clients. Our financing options include lease-to-own, power purchase agreements (PPAs), and energy savings performance contracts (ESPCs). We work with our clients to determine the best financing model for their specific needs and budget.
Savings Guarantee and Performance
Under an EPC, the ESCO guarantees energy savings from the implementation of energy efficiency measures. The savings guarantee is typically based on a measurement and verification (M&V) plan that outlines the methodology for calculating energy savings. The M&V plan is developed in consultation with the customer and is used to ensure that the energy savings are accurately measured and verified.
At Rise Energy, we guarantee energy savings for all of our projects. We use a rigorous M&V plan to ensure that our customers receive the savings that they expect. Our team of experts is trained in the latest energy-saving technologies and techniques, and we work closely with our clients to ensure that their energy savings goals are met.
Contracts and Legislation
EPCs are typically executed under federal appropriations and are subject to congressional oversight. The Federal Energy Management Program (FEMP) provides guidance and support for federal agencies that are implementing EPCs. In addition, many states and local governments have passed legislation that supports the use of EPCs for energy efficiency projects.
At Rise Energy, we are committed to staying up-to-date on the latest legislation and regulations related to energy performance contracts. We work closely with our clients to ensure that their projects are in compliance with all applicable laws and regulations.
At Rise Energy, we aim to be Lubbock’s local guide to energy. From solar and power storage systems to commercial and residential energy brokerage, if you need energy, you need Rise. Our financing options, savings guarantee, and commitment to compliance make us the best option for solar, power storage, and independent energy brokerage in Lubbock.
Implementation and Management
Implementing and managing an Energy Savings Performance Contract (ESPC) involves several steps and entities, including project development, measurement and verification, maintenance and operations, and project management.
Project Development
The first step in implementing an ESPC is to conduct an energy audit to identify energy-saving opportunities. The audit is usually conducted by an Energy Service Company (ESCO) that specializes in identifying and implementing energy-saving measures. At Rise Energy, we have a team of experienced professionals who can help you identify and implement energy-saving measures that can help you save money on your energy bills.
Once the audit is completed, the ESCO will develop a project plan that outlines the energy-saving measures to be implemented, the expected energy savings, and the cost of the project. The project plan will also include a timeline for implementation and a measurement and verification plan.
Measurement and Verification
Measurement and verification (M&V) is a critical component of ESPC implementation and management. M&V ensures that the energy-saving measures implemented are performing as expected and that the expected energy savings are being realized. At Rise Energy, we use the International Performance Measurement and Verification Protocol (IPMVP) to measure and verify energy savings.
Maintenance and Operations
Maintenance and operations are also critical components of ESPC implementation and management. After the energy-saving measures are implemented, it is important to maintain and operate the equipment to ensure that it continues to perform as expected. At Rise Energy, we offer maintenance and operations services to ensure that your energy-saving measures continue to provide the expected energy savings.
Why Rise Energy?
At Rise Energy, we aim to be Lubbock’s local guide to energy. We offer a wide range of services, including solar and power storage systems, commercial and residential energy brokerage, and energy-saving measures. Our team of experienced professionals can help you identify and implement energy-saving measures that can help you save money on your energy bills. We use the latest technology and best practices to ensure that our clients get the best possible results. Contact us today to learn more about how we can help you save money on your energy bills.
Impact and Benefits of EPCs
Environmental and Economic
Energy Performance Contracts (EPCs) can have a significant impact on the environment and the economy. By implementing energy conservation measures (ECMs), EPCs can reduce energy consumption, which in turn can lead to lower greenhouse gas emissions. Additionally, EPCs can provide cost savings for businesses and organizations. According to the Department of Energy, EPCs can save organizations up to 30% on energy costs.
At Rise Energy, we believe that EPCs are an excellent option for organizations looking to reduce their energy consumption and save money. By partnering with us, we can help you identify the best ECMs for your organization and provide you with the necessary financing to implement them.
Case Studies: Schools and Hospitals
Schools and hospitals are two types of organizations that can benefit greatly from EPCs. In schools, EPCs can help reduce energy consumption and provide cost savings, which can be used to improve educational programs and facilities. For example, the Energy Star program provides a case study of a school district in New York that implemented an EPC and saved over $1.4 million in energy costs.
Similarly, hospitals can benefit from EPCs by reducing energy consumption and redirecting cost savings towards patient care and medical equipment. In fact, the Department of Energy provides a case study of a hospital in Maryland that implemented an EPC and saved over $1.5 million in energy costs.
At Rise Energy, we have experience working with schools and hospitals to implement EPCs. We understand the unique energy needs of these organizations and can help them identify the best ECMs to meet their needs. Additionally, our expertise in solar and power storage systems, as well as our independent energy brokerage services, make us the best option for organizations looking to reduce their energy consumption and save money.
Overall, EPCs can have a significant impact on the environment and the economy. By partnering with Rise Energy, organizations can benefit from our expertise in EPCs, as well as our other energy services, to reduce their energy consumption and save money.
