School District ESPC Includes Financing Help

by | May 15, 2015

Ameresco energy manageThe Gordon-Rushville Public School District in Nebraska hired Ameresco for a comprehensive $5.8 million energy savings performance contract (ESPC) for a high school, a middle school and an elementary school.

As part of the guaranteed savings project, Ameresco conducted a detailed investment grade audit of nearly 130,000 square feet. Some of the updates include the modernization of school buildings; replacement of heating systems with new heating/cooling rooftop units and ground-source heat pump units; replacement of windows with premium efficiency dual-pane windows; partial roof repair and replacement; and replacement of existing lighting with LEDs.

In addition, Ameresco helped to secure low interest financing, rebates and utility cost savings to support the project. The Ameresco team worked with the school district to help gain the Department of Education’s approval of an allocation of Qualified Zone Academy Bonds (QZAB) in the amount of up to $2.5 million that will allow the sale of tax-exempt bonds for financing part of the project.

The District received an additional bonus from the QZAB funding by associating with A+ Educators who will provide a contribution of more than $240,000 toward programs that improve the education of the students. In addition, due to the large quantity of lighting fixtures expected to be retrofitted to LEDs, the district’s utility provider created a custom rebate program, which resulted in $41,465 in rebates for the school district.

The project is expected to be complete by October 2015

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