Saving Construction Money with Peformance Contracting
By Maureen Lally
Today, the average public school is 42 years old and budgets are shrinking. In fact, one third of public schools were built before 1970 and have not been renovated in nearly 30 years, according to the National Center for Education Statistics.
At the same time, the need for high-quality, high-performance, educational facilities is growing steadily. This rising need, combined with reduced resources, is forcing school districts to look at new ways and solutions.
One tool that schools use is performance contracting, a “self-funding” package of products and services, customized to specific building requirements, that deliver significant energy and operating cost reductions.
Performance contracting allows building owners to use future energy savings to finance improvement projects.
Performance contracting saves money, solves building-related concerns, and creates sustainable schools that improve the health of students and teachers, increase attendance, decrease energy and operating costs, and reduce environmental impact. And the proof is found in schools throughout the country that are using performance contracting to dramatically upgrade facilities.
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