Two administration-led, industry-driven efforts marked milestones today. The first will put Americans to work on more than $2 billion in energy upgrades for federal buildings. The second will offer 30 million households and businesses more control over their energy bills. And together, these efforts will support an economy that’s built to last, one that makes use of every source of American energy – more efficiently.
In December, as part of his We Can’t Wait initiative, the President challenged federal agencies to make at least $2 billion worth of energy-efficiency upgrades over the next two years. Meeting the first of several milestones of the challenge, federal agencies have identified $2.1 billion of projects that will pay for themselves using performance-based contracts.
Of the $2.1 billion in energy upgrade projects identified by agencies, more than $100 million in Energy Savings Performance Contracts (ESPCs) and Utility Energy Savings Contracts (UESCs) have been awarded already, and an additional $1.2 billion in projects are in development – demonstrating strong momentum towards meeting the President’s goal.