When engaging and procuring an ESCO, there are four basic steps to the Energy Performance Contract development process:
STEP 1 – Preliminary audit to identify energy efficiency options and potential savings;
STEP 2 – Detailed analysis of savings, generally undertaken by the ESCO;
STEP 3 – Agreement on the contract and implementation of the energy efficient project;
STEP 4 – Contract enters a guarantee phase when energy savings are measured and verified.