90-4-1107. Term and conditions of energy performance contracts.
90-4-1107. Term and conditions of energy performance contracts. (1) The term of an energy performance contract must be a minimum of 3 years and may be up to the useful life of the conservation measures or 20 years, whichever is less.
(2) An energy performance contract must require the qualified provider to:
(a) guarantee the conservation-related cost savings to the extent necessary to pay for the conservation measures, including financing charges incurred over the life of the contract;
(b) monitor the reductions in energy consumption and the cost savings attributable to the conservation measures installed pursuant to the energy performance contract; and
(c) annually prepare and provide a report to the local government unit or the state agency, documenting the performance of the conservation measures.
History: En. Sec. 7, Ch. 162, L. 2005; amd. Sec. 10, Ch. 439, L. 2009.