Project financial structure saves taxpayers millions
(MONTICELLO, NY – April 14, 2022) Monticello Central School District, with project partner Energia, recently announced the start of construction for its district-wide energy performance contract (EPC) with Trane Technologies. The district will generate guaranteed energy savings of at least $145,000 annually, which will be used to fund more than $3.2 million in capital improvements to district facilities at no out-of-pocket cost to taxpayers.
In contrast to a bond referendum, energy performance contracts do not require a tax increase or any out-of-pocket costs. The project is fully funded by the guaranteed energy savings that the upgrades will yield over time. If the guaranteed energy savings do not materialize, the energy services company must fund the difference.
“We know classroom environment can have a big impact on student learning and attendance,” said Dr. Matthew Evans, Superintendent of Schools. “By engaging in an Energy Performance Contact, with our partners at Energia, we will be able to upgrade our facilities, resulting in brighter classrooms, and improved control over our heating systems, with less energy waste overall. Additionally, we are adding solar sustainable energy to Chase Elementary School, reducing our carbon footprint, as well as our energy bills.”
The Monticello energy performance project includes the installation of roof-top solar panels at Chase Elementary. Additional energy conservation measures across the five schools in the district include: interior lighting (LED) upgrades, energy management system (EMS) upgrades, boiler replacements at Monticello High School and Robert J. Kaiser Middle Schools, plug-load controls, and more.
Energia, an energy-savings financial engineering firm, provides expert guidance and technical oversight for the district throughout the energy performance contract. The U.S. Department of Energy defines energy performance contracting as “a budget-neutral approach to make building improvements that reduce energy and water use and increase operational efficiency.” Monticello Central School District can pay for today’s facility upgrades with tomorrow’s energy savings – without tapping into capital budgets.
“It is exciting to kick-off construction at Monticello,” said Kendra McQuilton, CEO of Energia. “Dr. Evans has been a champion of this effort, seeing the necessity of comfortable classrooms even before the COVID-19 pandemic. We are pleased to have energy service company Trane as our partner to execute the physical transformation. Together we expect to exceed the energy savings expectations while significantly improving the classroom environment for Monticello students.”
ABOUT ENERGIA:
Energia, an energy-savings engineering firm, turns school district energy liabilities into educational assets. Energia empowers school districts nationwide to unlock trapped energy funds and convert energy-inefficient facilities into world-class educational environments – without generating out-of-pocket expenses or requiring district referendums. Energia is a trusted advisor and advocate for understanding, explaining, and managing the complex school district energy-savings eco-system. Energia ensures school districts can be confident in their energy-saving initiatives. For more information, visit https://www.energiasaves.com