Sharing Energy Makeover Costs
Posted in Models by Kate Archdeacon on November 28th, 2011
Source: Climate Spectator
From “Free energy makeovers drive growth for Siemens” by Natalia Drozdiak (Reuters):
One of Berlin’s most famous universities is getting a free green makeover that will slash its energy bill by nearly a third under an increasingly popular type of efficiency contract.
With engineering companies looking for new ways to drive growth in a tough economic environment, and the public sector finding it difficult to invest on stretched budgets, the deal between Siemens and the University of the Arts is a template for more. Under a ‘buy now pay later’ scheme, worth about 1.1 million euros, the UdK has turned its heating, cooling and lighting over to Siemens to renovate. In return Siemens gets to keep a substantial part of the savings that the scheme generates: since 2004 it has cut energy consumption by about 28 percent each year, reaping annual savings of about 240,000 euros. After the 10-year contract expires and the renovation has been paid for, the university gets to keep all the savings.
Read the full article by Natalia Drozdiak.