Federal energy-efficiency spending signals trend
A recent report from the Federal Times indicates the ongoing trend in spending and subsequent opportunities that abound for public sector energy efficiency projects will continue.
According to an article from Environmental Leader,federal agencies spent more than $1.7 billion last year on energy-efficiency projects, increasing their environmental spend by more than 80 percent from 2008.
The Federal Times article reports that about two-thirds of the investments were paid for with federally appropriated dollars, primarily from the American Recovery and Reinvestment Act, with the remainder financed by private-sector financing arrangements, such as Energy Savings Performance Contracts (ESPCs) and Utility Energy Services Contracts (UESCs). Under these programs, contractors pay for renovations upfront and are paid back over time with cost savings that result from reduced energy consumption.
Such spending most certainly motivated many state and local governments to reduce or monitor energy consumption. And, for those with mandates, the funding was crucial for meeting specific standards. What’s more, the funding boosted revenues for the innovative businesses behind the projects and, therefore, the green economy. This is one more example of how public-private partnerships are key to our nation’s future economic health.
For more information, please contact Heather Sabharwal at firstname.lastname@example.org or 202-349-7016.
Posted on Wed, February 24, 2010
by Kevin Matthews filed under