Performance Contract Helps Save Millions in Energy Costs
July 16, 2003
With the help of a performance contract completed last summer, the University of Utah saved $6.6 million in energy costs, $400,000 more than projected. The four-year project was one of the largest energy performance contracts ever undertaken by a university. Improvements ranged from small light fixtures to large water chillers.
Energy performance contracts enable retrofit projects to be paid for with future savings from those projects. Among the improvements were 600 new low-flow toilets replacing older fixtures that wasted water, 400 upgraded laboratory fume-hoods, and three new water chillers coupled with two new water cooling towers. Nearly 68,000 light fixtures were upgraded or replaced to use less energy.
Orfeo Kostrencich, financial analyst for the university, noted, "[The performance contract has] been very successful. We've been able to improve the campus without requiring any additional taxes from the citizens of Utah."
The national Rebuild America program and the state Rebuild Utah program were instrumental in the university's success.
- Tuition Discount Rates Reach New Record Level in 2015-16
- ED Offers Supplemental Cash Management Guidance
- Federal Agencies Release Guidance on Civil Rights Protections for Transgender Students
- 2016 CAO and CBO Collaborations
August 1-2, 2016
- 2016 Planning and Budgeting Forum
September 19-20, 2016
- 2016 Managerial Analysis and Decision Support
November 17-18, 2016
- WEBCAST: The Clery Act: Strategic Planning to Mitigate Institutional Risk
Thursday, May 26, 2016 1:00PM ET
- ON-DEMAND: Title IX: Key Issues Surrounding Institutional Compliance
- ON-DEMAND: Containing Cost and Risk with Renewables – the Power Purchase Agreement Story
- ON-DEMAND: NACUBO Live! Higher Education Accounting Forum
- ON-DEMAND: Are Hedge Funds and Private Equity Right for You? An Analysis of Alternative Investments
- ON-DEMAND: Responsibility Center Management: Two Different Perspectives