Energy Savings Performance Contracting
If the necessary encouragement, leadership, and resources are in place, states can finance energy improvements through Energy Savings Performance Contracts (ESPCs), which allow the state to enter into a performance-based agreement with an energy service company (ESCO). The contract allows the state to pay the company for its services with money saved by installing energy efficiency measures.
There is no policy in place or proposed.
Last Updated: July 2015
The Energy Savings Performance Contracts Act established an ESPC program for state owned government buildings. Through this program, run by the State Office of Energy Policy (SOEP) in collaboration with the state’s Government Development Bank (GDB), eight RFPs have been awarded and three additional projects are actively looking for proposals. SOEP provides consulting services to state agencies; helps develop RFPs and contracting documents; runs the RFP process; make recommendations to agencies for the RFP award; provides support negotiating Preliminary Assessments, Investment Grade Audits and Performance Contract; and GDB provides financial advice on the financial agreements. About 70 public buildings, mostly owned by the Public Building authority, are engaging ESPCs.
Last Updated: July 2016
The Virgin Islands Energy Office promotes and administers energy savings performance contracts for territorial government agencies and provides technical assistance to government instrumentalities. The Energy Office also maintains a list of prequalified ESCOs.
Last Updated: July 2015