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:
“In the west, Apollo and Dionysus strive for victory. Apollo makes the boundary lines that are civilization but that lead to convention, constraint, oppression. Dionysus is energy unbound, mad, callous, destructive, wasteful. Apollo is law, history, tradition, the dignity and safety of custom and form. Dionysus is the new, exhilarating but rude, sweeping all away to begin again. Apollo is a tyrant, Dionysus is a vandal.”
—Camille Paglia (b. 1947)
“Kind are her answers,
But her performance keeps no day;
Breaks time, as dancers,
From their own music when they stray.”
—Thomas Campion (1567–1620)
“The way in which men cling to old institutions after the life has departed out of them, and out of themselves, reminds me of those monkeys which cling by their tails—aye, whose tails contract about the limbs, even the dead limbs, of the forest, and they hang suspended beyond the hunter’s reach long after they are dead. It is of no use to argue with such men. They have not an apprehensive intellect, but merely, as it were a prehensile tail.”
—Henry David Thoreau (1817–1862)