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)
“The value of old age depends upon the person who reaches it. To some men of early performance it is useless. To others, who are late to develop, it just enables them to finish the job.”
—Thomas Hardy (1840–1928)
“Any intelligent woman who reads the marriage contract and then goes into it, deserves all the consequences.”
—Isadora Duncan (1878–1927)