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.
- ED Tightens New "Gainful Employment" Rules
- GASB Studies Irrevocable Charitable Trusts
- ED Negotiations Focus on Cash Management
- 2014 Higher Education Accounting Forum
April 27-29, 2014
- ON-DEMAND: Understanding the Results of the 2013 NACUBO-Commonfund Study of Endowments, and a Look to 2014 and Beyond
- ON-DEMAND: How Behavioral Changes Helped Cut Energy Usage in Half
- ON-DEMAND: Developing a Market-Informed Approach to Tuition Pricing
- ON-DEMAND: Responsibility Center Management: The Process Necessary to Complete a Successful Implementation
- ON-DEMAND: OD: Responsibility Center Management: How Innovations Have Changed the Nature of RCM
- A Guide to College and University Budgeting: Foundations for Institutional Effectiveness, 4th ed. - by Larry Goldstein
- NACUBO's Guide to Unitizing Investment Pools - by Mary S. Wheeler
- Managing and Collecting Student Accounts and Loans - by David R. Glezerman and Dennis DeSantis