University of Georgia to Spend up to $4 Million to Improve Energy and Water Efficiency

20 June 2014

The money will be UGA’s share of some $87.4 million in projects approved by the Georgia Environmental Finance Authority, or GEFA, and the Georgia State Financing and Investment Commission University of Georgia officials plan to spend up to $4 million to improve energy and water efficiency on the university’s East Campus under a new state program.
The money will be UGA’s share of some $87.4 million in projects approved by the Georgia Environmental Finance Authority, or GEFA, and the Georgia State Financing and Investment Commission.
Under the program, six state agencies will be allowed to hire outside contractors to evaluate existing buildings and come up with building projects that will increase energy efficiency and reduce water consumption. The state will borrow the money to pay for the program, but should be able to recover the costs through utility bill savings in just a few years.
The program is called the “Guaranteed Energy Savings Performance Contracting Program” because contractors will guarantee that the state agencies will be able to pay for the projects with the money they will save on utility bills as a result of the building projects..

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