Steps for securing funding through an Energy Services Agreement
Quicklook (verification). 1-2 weeks duration.
- Completion of a pre-audit checklist and review of 12-24 months of utility bills.
- Equipment assessment and engineering review that results in high level retrofit or energy generation recommendations.
- Review by 3fficient’s funding partner to confirm economic viability, creditworthiness, and project ownership. If approved, a Letter of Intent is issued.
- An energy efficiency or energy generation project is outlined and presented.
Investment Grade Audit (validation). 3-6 weeks duration.
- 3fficient, or funding partner, drafts a partially binding [note 1] Energy Services Agreement (ESA) outlining the proposed project for execution by client, 3fficient, and funding partner.
- A Level 3, Investment Grade energy Audit (IGA) is completed to prove the proposed project numbers. This audit is used to create an operations agreement that outlines the entire project from commencement to conclusion.
- The fully binding [note 2] Operations Agreement is signed by all parties involved, marking the start of the entire project.
Implement or Retrofit. 2-6 months duration.
- The special purpose vehicle is formed, funding is deposited in full, procurement is completed, and the project rollout started.
- System operational testing is conducted with client training, oversight, and approval.
- ESA payments are initiated per the project payment schedule, following complete installation and system commissioning.
- Client agrees by signing the ESA, that if they back out following the Level 3 energy audit, they will be liable for the cost of the energy audit. However, they will have access to and benefit from all information gathered during the audit.
- By signing the Operations Agreement, client approves the entire project and is bound per the terms and conditions of the ESA and Operations Agreement for the length of the agreement.