Dover, Del. — More than $72 million was raised in the 2011 bond issuance to finance energy efficiency projects in state buildings, according to an analysis by the Delaware Sustainability Energy Utility and the University of Delaware’s Center for Energy and Environmental Policy.
Guaranteed Energy Savings Agreement (GESA) contracts are carried out in compliance with the Delaware Energy Performance Contracting Act with qualified Energy Service companies (ESCOs). The performance contracting model guarantees energy and operational savings will offset project financing.
Eight projects financed through the bonds are complete or nearing completion at three state agencies (Office of Management and Budget, The Department of Correction, Department of Services for Children, Youth and their Families) and two institutions of higher learning (Delaware State University and Delaware Technical and Community College).
The DESEU report concluded that the projects saved approximately three percent more than the guaranteed energy savings. According to results, the Sussex County Family Court Building project reached verified savings more than twice what was guaranteed. The report also analyzed monetary utility savings in four of the completed projects (Delaware Legislative Mall, Carvel State Office Building, the Richardson and Robbins Buildings, Sussex County Courthouse Facilities and the Delaware Department of Services for Children, Youth and their Families) and indicated that the projects are surpassing performance expectations.
“We are very pleased that our Energize Delaware programs are highly successful,” said Tony DePrima, executive director of Delaware Sustainable Energy Utility. “In many cases they’ve exceeded expectations, delivering energy savings beyond what was projected.”