What is the new Snohomish County Public Utility District ESPP?
SnoPUD’s Energy Savings Purchasing Program allows building owners to acquire energy efficiency as a service. This is an innovative program that is being piloted for commercial buildings throughout Snohomish County with MacDonald-Miller Facility Solutions as the energy services provider.
The program is designed to fully pay for capital improvements through energy savings over a period of ten years. In most cases, this can be done with no upfront capital by the building owner. SnoPUD processes monthly invoices based on a fixed repayment schedule that aligns with the guaranteed energy savings.
If at the end of the year, the validated energy savings are less than the guaranteed energy savings then MacDonald-Miller cuts a check for the shortfall. The financial guarantee insures that there are no surprises with any operating budget impacts and monthly repayment obligations.
Benefits of the program include:
- Energy efficiency as a service
- No owner capital contribution required by design
- Savings are validated and financially guaranteed for 10 years
- Opportunity to create additional cash flow
- Immediate increase in building’s asset value
- Inclusion of non-energy saving scopes of work
- Program payments billed by Utility as an operating expense
- Electric kWh and kW incentives based on actual savings
- Hassle-free, turn-key solution by MacDonald-Miller
What are customers saying about the program?
“You all have really thought through all the details – kudos to SnoPUD and team! The program is enabling SNBL to address many of our aging infrastructure needs without compromising our working capital. We are getting this work done as a program instead of many small projects over multiple years. In fact, the lighting improvements to LED would have never been funded.” – Ron Wren, Director of Facilities & Cost Reduction, SNBL