Energy Performance Contracting
Harper is a leader in the implementation of energy performance contracting (EPC). EPC is a financing solution bundled with design engineering, construction, service and maintenance over a defined period of time with the goal of materially reducing a building owner's energy and operating costs.
Benefits of our EPC solution include:
Low cost of capital. Our EPCs are based upon low capital costs. In many cases, our financing is more competitive than financing available to a public or not-for-profit institution because our capital sources specialize in incentive-based, energy-specific financing. Lower capital (financing) and operating costs (service/maintenance) means increased savings to the building owner.
Benchmarking. An EPC begins with a benchmark, i.e. a baseline agreement on the current cost of energy for the building owner over a defined period of time for a specific type of space utilization. After contract execution, the baseline becomes the means of verifying that the deployed capital improvements are saving money.
Blended scope. In some cases, EPCs include scope that is related to but does not directly involve consumed energy. This scope may include energy-saving windows, doors, roofing, insulation and other architectural systems. In combination with new MEP systems, these related systems work together to lower energy consumption.
Scale and size of projects. EPCs often range between $1 million - $5 million in capital investment. As such, they are easy to implement and savings are realized immediately.
Custom fit. Both private and public sector building owners deploy EPCs. EPCs are more common in the public sector because those customers often face constrained access to capital. Public customers also benefit from having critical needs met immediately, significantly reducing energy and operating costs.
Rebates and incentives. Many building owners who engage in EPC qualify for rebates and incentives from utility companies. These rebates and incentives typically revert directly to the building owner, further improving their return on investment. For one K-12 customer with a four-building EPC and a baseline of about $700,000 / year in energy costs, our services saved $328,599 / year in energy costs. They also received a $212,945 rebate from the utility company.
Energy guarantee. Harper's unique business model of integrated, self-performed engineering, construction and service combined with low capital costs enables us to guarantee energy and operating cost savings for the building owner.