ESCOs Complete $33 billion worth of infrastructure improvements, Saving 450 tons of CO2
WASHINGTON–(BUSINESS WIRE)–#CRE–The National Association of Energy Service Companies (NAESCO) announced today it is celebrating the first-ever National ESCO Week this Nov. 16 – 20. NAESCO has created National ESCO Week to help recognize the tremendous value that energy service companies (ESCOs) and the wider energy efficiency industry bring nationwide. NAESCO is hosting a series of virtual webinars throughout the week that are free to attend.
ESCOs add $7 billion of business to the national economy every year, doing work in every state of the country. In 2019, the energy efficiency industry alone employed more than two million Americans.
“ESCOs are transforming our nation’s building infrastructure, making it more efficient, healthy, and safe,” said NAESCO executive director Dr. Timothy D. Unruh. “Now more than ever before, it’s important to celebrate the crucial work they do to improve our buildings for a more sustainable and resilient future.”
The buildings sector, which includes both commercial and residential buildings, accounted for roughly 28 percent of total U.S. end-use energy consumption in 2019 according to the U.S. Energy Information Administration (EIA). According to the Environmental Protection Agency (EPA), the sector was the source of more than one-third of total U.S. greenhouse gas emissions in 2018.
ESCOs perform energy efficiency retrofits on some of the nation’s most vital infrastructure, including hospitals, education facilities, and other mission critical public facilities. Through energy service performance contracts (ESPCs), ESCOs upgrade HVAC systems, lighting and more, simultaneously reducing buildings’ operational emissions and increasing cost savings and resiliency.
Since 1990, ESCOs have delivered:
- $50B in projects paid from savings
- $55B savings – guaranteed and verified
- 450,000 person-years of direct employment
- $33 billion of infrastructure improvements in public facilities
- 450 million tons of CO2 savings at no additional cost
“Our series of virtual events is bringing the ESCO community together to cover key topics, gather top insights, and highlight the industry’s opportunities and great potential,” Dr. Unruh added. “The ESCO industry is helping our local, state and federal governments meet their building performance, resiliency and climate-alignment goals through performance contracting. The industry is also playing a critical role in helping us recover and ‘build back better.’ ESCOs are truly changing the outlook of our future, and we couldn’t be prouder to represent this community.”
Follow along on Twitter and LinkedIn using #ESCOweek. More information on the virtual webinars can be found here: https://www.naesco.org/event?EventID=7323.
The National Association of Energy Service Companies (NAESCO) is the leading advocacy and accreditation organization for Energy Service Companies (ESCOs) and is dedicated to modernizing America’s building infrastructure through performance contracting. Uniting the energy service industry, NAESCO promotes favorable government policies; sponsors a rigorous accreditation program; provides training and education; and champions the interests of ESCOs across the nation.
ESCOs contract with private and public sector energy users to provide cost-effective energy efficiency retrofits across a wide spectrum of client facilities, from college campuses to water treatment plants. Effectively utilizing a performance-based contract business model, ESCOs have implemented more than $50 billion in comprehensive energy efficiency retrofit projects over the last three decades.