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Energy Service Contract Helps Dublin Upgrade in Tough Financial Times

After a few years of hard work on various projects, the City became aware of the concept of energy services contracting, wherein the cost of energy efficiency upgrades are paid for with the savings garnered from implementing the energy improvement projects. These projects do not require out of pocket expenses from the City and there are no budgetary impacts. The mechanism of energy service contracting provided the City with an opportunity to leverage the significant work it had already accomplished, and provided the City with an opportunity to complete a number of capital projects that would have otherwise waited years for full funding. Energy services contracting may not be the right solution for every city in every case, but in this economy where municipalities are looking for any and all opportunities to save money by cutting costs, an energy services contract is worth exploring.

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The US Energy Services Company Market

The energy service company (ESCO) market for energy efficiency project installations and services exceeded $5.1 billion in 2011. Driven by public policies that encourage a greater emphasis on energy efficiency to reduce costs and improve operations, this market is expected to continue to grow faster than the domestic economy and reach $16 billion in sales by 2020.The majority of ESCO work is conducted for the municipal, universities, schools, and hospitals (MUSH) market - largely for public entities and institutions at the state or local level - which represents about 73% of all ESCO activity.

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