Energy Savings Performance Contract
Energy Savings Performance Contracts (ESPCs) are contracts under which a contractor designs, constructs, and obtains the necessary financing for an energy savings project, and the federal agency makes payments over time to the contractor from the savings in the agency's utility bills. The contractor guarantees the energy improvements will generate savings, and after the contract ends, all continuing cost savings accrue to the federal agency.
Read more about this topic: United States Department Of Energy
Famous quotes containing the words energy, performance and/or contract:
“There are no accidents, only nature throwing her weight around. Even the bomb merely releases energy that nature has put there. Nuclear war would be just a spark in the grandeur of space. Nor can radiation “alter” nature: she will absorb it all. After the bomb, nature will pick up the cards we have spilled, shuffle them, and begin her game again.”
—Camille Paglia (b. 1947)
“O world, world! thus is the poor agent despised. O traitors and bawds, how earnestly are you set a-work, and how ill requited! Why should our endeavour be so loved, and the performance so loathed?”
—William Shakespeare (1564–1616)
“Any intelligent woman who reads the marriage contract and then goes into it, deserves all the consequences.”
—Isadora Duncan (1878–1927)