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Feds Ramp Up Greening Efforts As Eco-Source Technologies Looks To Assist
As part of the USA Today’s Green Tech series, Gregory Korte has an article about his interview with Jonathan Powers, the Federal Environmental Executive for the Obama Administration (“Obama’s point man on greening the environment”, April 1, 2013)
Eco-Source Technologies is committed to providing proven and affordable energy efficiency and sustainability solutions. Our first targets of opportunity are private and volunteer sectors buildings. These entities and the decision-makers that manage their energy consumption will benefit whether they purchase one or bundle an assortment of Eco-Source Technologies products. Our next target of opportunity, the public sector (local, state and federal government), has the most potential for three reasons:
- They have the power to issue regulations that could impact our business
- With budgetary constraints and limits to how much tax revenue can be collected, government entities are always looking to cut waste, and reducing monthly energy use and bills through cutting-edge companies like Eco-Source Technologies allows government to run more efficiently
- Government can serve as a credible and transparent example for others to follow as the trend towards greater energy efficiency and sustainability gains further momentum
This passage from Powers’ interview was very exciting to read:
Q: What’s an energy savings performance contract?
A: They’re a tool that with very little or no upfront cost to the taxpayer, that we’re able to get the capital to do the deeper retrofits to make our buildings more efficient, and in the long term save us money.
Q: But you do that by sharing the cost of the project with a private company — and then also sharing the savings. Why is this better than the government going alone?
A: The best way for us to do it is to invest ourselves in these energy-efficient technologies. But the savings are not just in the actual capital to spend on the HVAC system, for instance. It’s the operation and management of those systems over the course of a contract that we make tremendous savings. At the end of the contract, we still own those technologies that are in the buildings. So it’s an opportunity for us to really leverage the innovation of the private sector, and really get holistic solutions in our buildings in ways that would be more challenging to do through the standard appropriations process. And the risk lies in the private sector.
Q: How are those working?
A: They’re working very well. The president and former president Bill Clinton launched the Better Buildings Challenge back in December of 2011, and with that called on 70 partners — CEOs, university presidents and others — to have a goal of being 20% more efficient by 2020. We’re in the midst of this $2 billion challenge, which is up in December. We’ve awarded over $550 million in contracts, and the pipeline to get us to that goal is full. They’re a great way for us, in this time of fiscal constraint, to really leverage opportunities for us to get to the president’s goal.
After reading that passage the Eco-Source Technologies staff knew that our mission and Mr. Powers’ mission were nearly identical. Proof can be found by simply reading the introductory section of our website’s homepage, which contains the following words:
Eco-Source Technologies (EST) is an energy service company (ESCO), servicing the marketplace with cost-effective turnkey energy efficiency and renewable energy solutions. We promote energy efficiency by offering innovative products, resource-efficient planning and services guaranteed to counteract skyrocketing energy costs. Initially, we target the required energy demands of a consumer’s infrastructure in order to identify solutions that meet the precise energy needs of the enterprise and its stakeholders.
Central to our business is the delivery of performance and savings guarantees through our energy performance contracts (EPCs). This is an arrangement where we design, implement and finance all necessary investments in an energy efficiency or renewable energy project. Our guarantee is that the cost of a project will be recovered from the energy savings as well as assuming certain performance risks during the project’s economic lifetime by some of our remuneration being directly tied to the energy savings achieved.
It’s time to seize the day, and that’s why Eco-Source Technologies is working to partner with the federal government. But since states and localities are also pursuing similar strategies, our net will be casts across the country. Stay tune later this week as we blog about the second part of USA Today’s Green Tech series.