Performance contracting (sometimes known as Energy Performance Contracting or EPC) is an innovative, turnkey solution that utilizes energy and maintenance savings, guaranteed by an Energy Services Company (ESCO) to pay for needed facility improvements with no out-of-pocket cost to the owner.
Performance contracting re-allocates money already being spent on utility (energy, water, etc.) and maintenance costs to pay for needed facility improvements without affecting your current year’s budget. A typical performance contract can reduce utility and maintenance expenditures by as much as 35%. This allows for needed capital improvements to be made without having to raise taxes or pass a bond or mill levy increase.
PACE is a financing tool that allows commercial and multifamily property owners to finance qualifying energy efficiency, water conservation, and other clean energy improvements on existing and newly constructed properties, with repayment of the financing through voluntary assessment on their property tax bill. PACE is available in a growing number of states and jurisdictions. Iconergy can assist with PACE and C-PACE financing, contact us today for more information.