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Performance Based Contracts Investment Grade Audits (IGA) Background 2 •On March 23, 2021, staff introduced Performance Based Contracting and discussed preliminary assessments. Energy Saving Performance Contracts Process 3 Performance Contract Includes guaranteed savings Investment Grade Audit Measures identified, quantified Preliminary Assessment Identifies locations, systems, measures Council approval in June of 2021 Council Approval Required We Are Here 4 Investment Grade Audit Explained Pilot Project #1 Overview Performance Based Contracts Project #1 Preliminary Assessment (2021) 6 • Foothills Library – FY22 CIP has $225,000 for HVAC • Main Library – FY23 CIP has $1,000,000 • Park Lighting Conversion Cost $2,065,255 Capital Replacement Cost Savings $1,225,000 Conversion less capital contribution $840,255 Annual Energy Savings $200,066 Payback 4.2 years Simple Payback with Capital Contribution Conversion Cost $2,065,255 Annual Energy Savings $200,066 Payback 10.3 years Simple Payback without Capital Contribution Pilot Project #1 Audit Results (2022) 7 8 Pilot Project #1 Audit Results (2022) 9 Pilot Project #1 Audit Results (2022) 10 Pilot Project #1 Audit Results (2022) Park Lighting Example 11 Acoma Park Before LED Acoma Park After LED Pilot Project #1 Audit Results (2022) 12 13 • Foothills Library – FY22 CIP has $225,000 for HVAC • Main Library – FY23 CIP has $1,308,017 – $455,00 is for the chiller • Park Lighting Conversion Cost $1,842,479 Capital Replacement Cost Savings $1,533,017 Conversion less capital contribution $309,462 Annual Energy Savings $135,710 Payback 2.3 years Simple Payback with Capital Contribution Conversion Cost $1,842,479 Annual Energy Savings $135,710 Payback 13.6 years Simple Payback without Capital Contribution Pilot Project #1 Totals (2022) Pilot Project #2 Overview Performance Based Contracts Project #2 Preliminary Assessment (2021) 15 • HVAC: • Rooftop units at Advocacy Center & Bead Museum • New split system and mini-splits at Civic Center • Cooling Tower replacement and variable speed chilled water pumping at Adult Center • Lighting: Eleven Locations • Solar: GRPSTC, Civic Center, FRAC, Adult Center • Note – lighting from FRAC not factored into Capital Equipment Contribution Conversion Cost $5.9M Annual Energy Savings $327,000 Payback 18 years Conversion Cost $5.9M Capital Equipment Contribution $950,000 Conversion less capital contribution $4,950,000 Annual Energy Savings $327,000 Payback 15.1 years Simple Payback Simple Payback with Capital Replacement Savings Pilot Project #2 Audit Results (2022) 16 Project cost - $77,561 Pilot Project #2 Audit Results (2022) 17 Project cost - $554,532 Pilot Project #2 Audit Results (2022) 18 Project cost - $560,889 Foothills Recreation & Aquatics Center Pilot Project #2 Audit Results (2022) 19 Project cost - $1,279,244 Lighting Upgrade Site List Solar Evaluation Preliminary Assessment (2021) 20 Solar Preliminary Assessment (2021) 21 Facility System Size, kW-dc Yr. 1 Bill Savings Estimated Conversion Cost Payback, Years GRPSTC 737 $73,800 Civic Center 295 $47,300 FRAC 583 $71,400 Adult Center 162 $17,600 Total 1,776 $210,100 $3,255,000 15.5 Solar Evaluation Audit Results (2022) 22 Facility System Size, kW-dc Yr. 1 Bill Savings Conversion Cost Payback, Years GRPSTC 524.9 $67,852 $2,174,872 32.05 Civic Center 182.3 $36,110 $870,020 24.09 FRAC 619.7 $79,708 $2,226,172 27.92 Adult Center Removed Removed $0 Total 1,326.9 $183,670 $5,271,064 28.70 Project #2 Audit Results – Power ED 23 Project cost - $234,900.00 Project #2 Totals (2022) 24 • HVAC: • Cooling Tower replacement and variable speed chilled water pumping at Adult Center • Cooling tower replacement – FRAC • Cooling Tower replacement – Civic Center • Lighting: Eleven Locations • Solar: GRPSTC, Civic Center, and FRAC • Note – lighting from FRAC not factored into Capital Equipment Contribution Conversion Cost $8.2M Annual Energy Savings $342,777 Payback 23.9 years Conversion Cost $8.2M Capital Equipment Contribution $443,600 Conversion less capital contribution $7,756,400 Annual Energy Savings $342,777 Payback 22.6 years Simple Payback Simple Payback with Capital Replacement Savings 25 Total Performance Based Contract Summary Preliminary Assessment (2021) Investment Grade Audit (2022) Project 1 and 2 total cost $7,965,255 $10,042,479 Total Annual Energy Saving $527,066 $478,487 Total Capital Contribution $2,175,000 $1,976,617 Total Project Cost minus Capital Contribution $5,790,255 $8,065,862 Total Payback without Capital Contribution 15.1 years 21 years Total Payback with Capital Contribution 11 years 16.9 years • Combining projects allows us to enhance savings • Coordination goes through contractors • Commissioning goes through contractors • Measurement and Verification included 26 Benefits • Use $1,976,617 from FY23 CIP • Program $8,065,862 to FY24 CIP* 27 Funding *Cost of project(s) could change all the way up to contract execution 28 Consensus Provide consensus to continue with pilot projects Formal approval at upcoming voting meeting