The state of Texas has passed numerous pieces of legislation aimed at enabling public agencies (state, municipalities, counties and schools) to use a tool known as Energy Savings Performance Contracting (ESPC) to enter into agreements to reduce overall utility consumption and modernize county facilities quickly and easily. Tax-exempt financing with a very attractive interest rate makes your project more economical and reduces the pay-back period for the improvements.
What is Energy Savings Performance Contracting?
Here’s how it works:
You enter into an agreement with a private energy service company (ESCO). The ESCO will identify and evaluate energy-saving opportunities and then recommend a package of improvements to be paid for through savings. The ESCO will guarantee that savings meet or exceed annual payments to cover all project costs