Energy savings exceed guarantees, school board learns (thanks to renewables and efficiency, Maine)

[jpak]

http://www.sunjournal.com/news/oxford-hills/2011/10/20/energy-savings-exceed-guarantees-school-board-learns/1103115

OXFORD — Oxford Hills School District directors were told this week that savings from energy improvements in the past four years exceeded the guaranteed savings by 20 percent the past year and by 45 percent the past four years.

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Siemens has worked with the district over the last four years to install a number of energy-saving improvements in district facilities, including solar panels, a windmill and LED lighting. Each year the company must present the board with energy cost savings under its performance contract.

Performance contracting is defined by Siemens as a financial vehicle that provides energy efficient facility improvements with no costs upfront. The costs are paid out of a guaranteed savings from the existing operating budget. Siemens must verify the savings each year. If the guarantee is not met, Siemens would give the school district a check for the difference.

This year the guaranteed savings was $239,329, but the actual savings was $288,614. Over the four-year improvement program, the total guaranteed savings was $879,058. The total savings to the school was actually $1,271,093 during those four years, for a difference of $392,035.

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Fuck You Dick Cheney

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