The Energy Economic Development Corporation ® delivers cost-saving energy efficiency retrofits that place minimal burden on building owners and managers.
Here is how we do it.
We initiate your retrofit by obtaining a Commitment Pledge from you, copies of your past twelve months of energy bills, and we take pictures of your HVAC units in order to determine from the onset whether we will be able to deliver you long-term energy savings.
Once your project is deemed feasible, our engineering and workforce development partners collect additional information to complement the HVAC and billing data.
We present you with an Energy Services Agreement (ESA), also known as an Energy Savings Performance Contract. In exchange for agreeing to accept level billing through our finance partner based on what you paid for energy over the last year, our engineering and workforce development partners are retained to serve as your building’s Energy Manager for a fixed period.
Our partners perform a “deep dive” audit of your building in order to design your retrofit project.
We apply for energy incentives from all available sources. We do this in order to reduce the cost of your Energy EDC retrofit—and hence, the length of your ESA—to the greatest extent possible.
Our partners retrofit your property’s HVAC, lighting, and / or building management systems.
7. BILLING & PAYMENT
Once your retrofit is complete, level billing through our finance partner begins. Each month, you will pay our finance partner the same amount that you paid for energy on average during the twelve months prior to the agreement. At the end of each year, our finance partner calculates your net energy savings for the year (compared to your expenses pre-retrofit) plus revenues from utility incentive programs. This dollar amount reflects the annual cash inflows from your retrofit. Each year, our finance partner pays you 70% of the annual cash inflows and retains 30% for themselves and their engineering partner as a performance contracting payment. The partners are incentivized to maximize your retrofit's savings and revenues because they are compensated from a percentage of what you earn.
8. ONGOING SERVICE
A retrofit of your building’s HVAC, lighting, and / or building management systems is your Energy Manager’s foremost task. Beyond that, your Energy Manager will provide remote and in-person operations and maintenance support when necessary.
Once the ESA ends—and your retrofit and energy management service has paid for itself— you now pay your utilities directly again. You no longer make payments through our finance partner. You realize the full savings from your Energy EDC retrofit.
If requested, then our partners would continue to provide remote support, in-person support, and cloud-based energy optimization.