What Is GESP?
The Guaranteed Energy Savings Program is a procurement and financing system that encourages the installation of renewable energy and energy-efficient equipment by leveraging energy and operational savings to finance the cost. Often the building renewal and retrofit project will incur no net cost increase to the customer. The goals of GESP include promoting the implementation of energy-efficient and renewable energy measures in public facilities and making communities aware of their benefits. Past projects show that state and local governments can see millions of dollars in energy savings each year while simultaneously improving facility infrastructure, reducing energy consumption and curbing carbon emissions.
What Projects are Suitable?
Public buildings such as libraries, courthouses, city halls, schools and recreational facilities are common choices for the GESP. Most Guaranteed Energy Savings Contracts (GESCs) are issued for construction projects involving HVAC systems, lighting and water conservation. However, these contracts also apply for roofing installation, improvements or replacements. We anticipate that additional stimulus and infrastructure spending bills will encourage GESPs. Read More.