In the second such announcement in less than a month, an agency of the federal government has designated ConEdison Solutions as an approved provider of energy efficiency, renewable energy and water conservation services at government facilities nationwide.
Following a similar Department of Energy announcement before the holidays, the U.S. Department of Defense (DOD), identified ConEdison Solutions as one of the energy service providers chosen to
help undertake a large-scale energy efficiency initiative at
federal facilities nationwide. ConEdison Solutions is a subsidiary of Consolidated Edison, Inc. (NYSE: ED)
Information about other contractors named by DOD, was not available.
Over the life of the program, the DOD initiative could potentially finance and manage as much as $900 million in energy efficiency, renewable energy and water conservation projects at federal sites.
"ConEdison Solutions has now emerged as one of the federal government’s select providers of energy services," said Jorge J. Lopez, President and CEO of ConEdison Solutions. "Under this contract, ConEdison Solutions will partner with the DOD and federal agencies to implement sustainability plans that reduce carbon footprints, reduce energy consumption, and enhance the performance of energy-consuming equipment."
DOD officials said that the program is designed to help "eliminate energy waste, increase energy efficiency, reduce dependence on fossil fuels, conserve water resources, and improve energy security in support of the Department of Defense and other Federal agencies."
Specific projects under the contract are being awarded on the basis of an "energy savings performance contract," which enables government agencies to undertake energy initiatives without paying up-front capital costs. Under these contracts, the contractor designs, constructs, and obtains the necessary financing for each project with the agency then making payments to the contractor over time from the energy savings.
The contractor guarantees that the energy improvements will generate the savings it calculated. Once the contract ends, all continuing cost savings accrue to the agency.
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