ConEdison Solutions recently signed a $56 million contract with the U.S. Army Reserve’s 99th Regional Support Command to provide more energy efficient solutions to 90 U.S. Army sites in 11 states.
The Valhalla-based company is a subsidiary of the New York City-based utility giant Consolidated Edison Inc. ConEdison Solutions, a national energy service company, qualified for the contract through the U.S. Department of Energy’s Savings Performance Contract program.
The contract allows federal agencies to partner with energy service companies to meet governmental energy conservation goals without paying the up-front capital costs. Some of the energy conservation goals include using renewable energy, conserving water and reducing emissions.
Under the contract, ConEdison Solutions provides the financing to hire contractors who design, construct and upgrade the buildings and facilities. The contract guarantees the improvements the energy service company make to the federally-funded buildings and facilities will generate energy cost savings that pay for the project throughout the contract. The contract could last up to 25 years.
After the contract ends, all added cost savings accrue to the federal agency. Over time, the agency pays for the improvements using money previously budgeted for its monthly utility bills, which could reduce to zero dollars through the energy-reduction program.
The design and construction of the project is anticipated to be completed in 2015.
