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What is an Energy Saving Performance Contract? What is an ESCO?

April 26, 2017contract energy ESCO PERFORMANCE Saving

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What is an Energy Saving Performance Contract? What is an ESCO?

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An Energy Savings Performance Contract (ESPC) is an agreement in which an Energy Services Company (ESCO) assumes the cost for identification, evaluation, design and installation of capital projects that will reduce energy costs and is paid based on the energy savings. For more information, visit the Department of Energy Web site on ESPC.