Hearing of the House Science, Space, and Technology Committee - "Green Buildings -- An Evaluation of Energy Savings Performance Contracts

I want to thank Chairman Broun and Chairwoman Lummis for holding this hearing to evaluate energy savings performance contracts, and I want to thank the witnesses on the panel as well.

Energy Savings Performance Contracts, or ESPCs, are tools capable of providing substantial financial and environmental benefits to both the Federal government and companies in the private sector. A study conducted by Oak Ridge National Laboratory earlier this year found that the actual cost savings of an ESPC project to the government are nearly twice as great as the guaranteed savings.

Investments in energy efficiency improvements can reduce energy costs as well as generate much needed jobs through the acquisition and development of necessary infrastructure and equipment. Often the useful life of the equipment extends well beyond the performance period of the ESPC. Another key component of many ESPCs is the training and implementation of sustainable energy practices.

I look forward to hearing from these witnesses on how we can encourage the use of ESPCs to help make the Federal Government a leader in energy efficient building technologies.

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