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MESAandothercommericalfinancetools

MESAandothercommericalfinancetools

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Published by: api-25976591 on Apr 13, 2010
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S u s ta in a b ility R o u n d ta b le In c .
In n o v a tiv e E n e rg y
E ffic ie n c y
F in a n c in g
A pproaches
J a m e s F . B o y le , JD
S te v e n M . B y le r, M B A , L E E D A P
R o g e rM . F r e e m a n , JD
HarryM . Ostrander, MBA,MUP,LEED AP
Kristian A.Peterson, M SRED,LEED Green Associate
\u00a9
2 0 0 9 S u s ta in a b ility R o u n d ta b le , In c .
1 6 9
CHAPTER 5:
IN N O V A T IV E E N E R G Y E F F IC IE N C Y
F IN A N C IN G A P P R O A C H E S
TABLE OF CONTENTS
CHAPTER SUM M ARY
1 7 1
B A C K G R O U N D
1 7 2
F IN A N C IN G
M O DELS
1 7 3
1 .
M a n a g e d E n e rg y S e rv ic e s A g r e e m e n t (M E S A ) E x p la in e d
1 7 3
1 .1 .
IM P L E M E N T IN G M E S A
1 7 4
1 .2 .
THE STRUCTURE OF MESA
1 7 5
1 .3 .
U N D E R S T A N D IN G A M E S A P A Y M E N T
1 7 5
1 .4 .
R O LE SA N D R E S P O N S IB IL IT IE S
1 7 7
T h e fo llo w in g b r ie fly o u tlin e s th e in d iv id u a l ro le s a n d re s p o n s ib ilitie s in a M E S A c o n tr a c t:
1 7 7
1 .4 .1
T ra n s c e n d E q u ity
1 7 7
1 .4 .2
T ra n s a c tio n LLC
1 7 7
1 .4 .3
L a n d lo rd /O w n e r
1 7 7
1 .4 .4
T e n a n t
1 7 7
2 .
P r o p e r t y A s s e s s e d C le a n E n e rg y (P A C E ) F in a n c in g E x p la in e d
1 7 8
3 .
O n -B ill F in a n c in g E x p la in e d
1 7 9
4 .
E q R M " E n e r g y S a v in g s G e n e r a t o r " M o d e l E x p la in e d
1 8 0
4 .1 .
E n e rg y S a v in g s G e n e ra to r
1 8 0
L IS TO F F IG U R E S
F IG U R E 1 : M E S A S T R U C T U R E D IA G R A M
1 7 6
\u00a9
2 0 0 9 S u s ta in a b ility R o u n d ta b le , In c .
1 7 0
IN N O V A T IV E
E N E R G Y
E F F IC IE N C Y
F IN A N C IN G
A P P R O A C H E S
C h a p te r S u m m a ry
E n e r g y
Perform ance
C o n tra c tin g
(E P C ) h a s c o n tin u e d
to a ttra c t a tte n tio n
a s a p o te n tia l m e a n s
fo r
D irecto rs
o f
C o rp o ra te
R eal
E sta te
(D R E s)
a n d
P o rtfo lio
M anagers
(P M s)
1
t o
im p ro v e
e n e r g y
e ffic ie n c y ;
r e d u c e
o p e ra tin g
c o s ts ;
a n d
a d d r e s s
g ro w in g
p u b lic
dem and
fo r
m o re
s u s ta in a b le
fa c ilitie s .
E n e r g y
Perform ance
C o n tra c tin g
h a s
b e e n
u tiliz e d
e x te n s iv e ly
i n
th e
governm ent
a n d
in s titu tio n a l s e c to rs fo r y e a rs , b u t th e re h a s b e e n
s ig n ific a n tly
less p e n e tra tio n
in th e C o rp o ra te
R eal
E sta te
s e c to r
d u e
t o
s tru c tu ra l
a n d
fin a n c ia l
barriers. W hile
som e
o f
th e
la rg e r
M em bers
o f
th e
S u s ta in a b le
C o rp o ra te
R e a l E s ta te R o u n d ta b le
(SCRER) are aggressively
e x p lo rin g w a y s to
le v e r a g e
E P C
to reduce operating costs and im prove energy and environm ental perform ance, others are just
g e ttin g u p to s p e e d o n th e m e c h a n ic s o f E P C .
T he
c h a p te r
o n
E n e r g y P erform ance
C o n tr a c tin gi n
th e
f ir s t
S u s ta in a b ility
R o u n d ta b le , In c . (S R
In c .)
report of 2009, SC R ER
2009 M anagem ent B est Practices I (M B P I), presented
a n in tro d u c tio n
a n d
d is c u s s e d th e fo llo w in g to p ic s :
I )
A
re v ie w
of EPC
as a business m odel, a discussion
o f th e
p a rtie s in v o lv e d , a n d
th e
ro le s
each party plays.
I I )
A
d is c u s s io n
of a joint effort
b y th e B u ild in g
O w ners and
M anagers Association
(B O M A )
a n d
th e
C lin to n
C lim a te
In itia tiv e
t o
p ro v id e
a m odel EPC
t o
stream lin e
th e
p r o c e s s
fo r
p ro je c t d e s ig n a n d e x e c u tio n in th e c o m m e rc ia l o ffic e
sector; and
I I I )
A
d is c u s s io n
o f
som e
o f
th e
c h a lle n g e s
fo r
E P C
i n
g a in in g
m o re
p e n e tra tio n
in to
th e
Corporate Real Estate sector, including financing
s tr a te g ie s .
T h is c h a p te r p ro v id e s a re -c a p o f th e fin d in g s o f th eE n e r g y P e r fo r m a n c e C o n tr a c tin g c h a p te r fro m
M BP
I and provides a few
e x a m p le s o f in n o v a tiv e , e m e rg in g fin a n c in g
m o d e ls in c lu d in g M a n a g e d
E n e r g y
S e rv ic e
A greem ent
(M E S A ),
m u n ic ip a l
e n e r g y
fin a n c in g ,
o n -b ill
fin a n c in g ,
a n d
E q u ilib riu m
R esource
M anagem ent
C o rp o ra tio n 's
(E q R M )
" E n e r g y
S a v in g s
G enerator".
T h e s e
m o d e ls
a re
s e e k in g
t o
overcom e
th e
c h a lle n g e s
o f c o n d u c tin g
perform ance
c o n tra c tin g in
th e
C o rp o ra te
R eal
E sta te
s e c to r .

A s d is c u s s e d in th e in tro d u c tio n to th e re p o rt, SCRER M e m b e r e x e c u tiv e s a re b o th le a d in g c o rp o ra te re a l e s ta te e x e c u tiv e s a n d in s titu tio n a l in v e s to rs a n d a d v is o rs . T h is c h a p te r c la s s ifie s e x e c u tiv e s f r o m C o rp o ra te R e a l E s ta te a sD ire c to rs o f C o rp o ra te R e a l E s ta te (D R E ) w h o o v e rs e e b o th o w n e d a n d le a s e d re a l e s ta te p o rtfo lio s a n d u s e s th e te rm

P o rtfo lio M a n a g e r (P M )in re fe re n c e to e x e c u tiv e s re s p o n s ib le fo r m a n a g in g p o rtfo lio s fo r in s titu tio n a l
in v e s to rs a n d a d v is o rs .
\u00a9
2 0 0 9 S u s ta in a b ility R o u n d ta b le , In c .
1 7 1

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