NECA National has just launched the highly anticipated Energy Conservation and Performance (E-CAP™) tool to help contractors capture more energy efficiency and renewable energy projects. Just like an energy service company (ESCO), NECA contractors can now offer performance contracting services by providing customers with flexible financing solutions and performance guarantees. All NECA contractors can access the E-CAP™ tool for free and create personalized accounts for all their project development, financing, and underwriting needs.
The market outlook for ESCOs is very positive and with the E-CAP™ tool NECA contractors can become larger players in this space. According to a study published by Navigant Research, the US ESCO market is expected to see growth into 2020 from current annual revenues of $4.9 Billion to almost $8.3 Billion. The federal sector in particular is expected to be a large contributor to this growth due in part to the Department of Energy’s Better Buildings Initiative, which aimed to provide $2 billion in energy performance contracts in 2013 alone. Further, McKinsey Consulting claims that the US economy currently needs $520 billion in energy efficiency financing to realize a $1.2 trillion return on its investment within 10 years.
Contractors using the E-CAP™ tool can provide clients with investment grade project performance guarantees and flexible project financing using third-party project investors and insurance. By embracing the E-CAP™ tool, NECA contractors can seamlessly integrate flexible financing solutions and performance guarantees into an existing sales process with a small amount of additional effort. A NECA contractor using E-CAP™ will no longer need to borrow or invest company money or worry if a project will perform as designed; because, financing is only available when the project makes financial sense and guarantees are only available when the projected energy savings are attainable. The team behind E-CAP™ will work hand-in-hand with the contractor to achieve all contractor and client goals.