Energy Service Companies (ESCOs)
General Information:Chevron Energy Solutions (formerly CMS Viron Energy Services) is an energy service company that helps institutions and businesses save energy and money while creating comfortable, productive, and safe learning, working, and living environments. Chevron Energy Solutions specializes in designing and installing facility energy efficiency improvements that make financial sense through guaranteed energy savings. Its total energy services approach includes engineering analysis and design, construction management, commissioning, rate reductions, facility management and monitoring, and verification of energy savings.
Use of savings guarantees:Chevron Energy Solutions performance contracts typically use savings guarantees such that the design, implementation, maintenance, and monitoring costs of a project are paid through the energy savings accrued by the customer. Excess savings above this break-even point are captured entirely by the customer. Should the break-even point not be reached during any year of the performance contract, Chevron Energy Solutions will pay the difference between the guaranteed savings and the actual savings, or upon agreement of the customer, apply these funds to additional efficiency upgrades. Financing options:Chevron Energy Solutions offers a broad range of financing options to its customers, the goal being to design a financing plan that best meets a customer's needs. The primary financing vehicles used by Chevron Energy Solutions include issue bonds; tax-exempt leases (both capital and operating leases); and energy services contracts, with Chevron Energy Solutions underwriting the project financing. Chevron Energy Solutions will assist customers in searching for grants, rebates (state- or utility-funded), or other financing programs that offer below-market interest rates, and customers may also arrange their own project financing. For more information, visit www.chevronesolutions.com. |
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