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:
“His eloquence was of every kind, and he excelled in the argumentative as well as in the declamatory way. But his invectives were terrible, and uttered with such energy of diction, and stern dignity of action and countenance, that he intimidated those who were the most willing and the best able to encounter him. Their arms fell out of their hands, and they shrunk under the ascendant which his genius gained over theirs.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)
“So long as the source of our identity is external—vested in how others judge our performance at work, or how others judge our children’s performance, or how much money we make—we will find ourselves hopelessly flawed, forever short of the ideal.”
—Melinda M. Marshall (20th century)
“A contract for better for worse is a contract that should not be tolerated.”
—George Bernard Shaw (1856–1950)