ETHS seeks ‘guaranteed’ energy savings

A proposed energy saving plan that could provide Evanston Township High School with “guaranteed” saving without have to pay a large upfront cost could be considered by the school board as soon as next month.

In February, the board approved an investment grade audit with Honeywell to look at way to improve the district’s energy and operational uses.

On Monday, Chief Finance Officer Kendra Williams presented to results of the audit to the board, which identified several energy efficiency and water conservation measure, with solar energy installation being the most significant.

The measures are projected to reduce electricity consumption by over 3.2 million kilowatts each year, or by nearly 48%, according to a memo from Williams.

That would result in nearly $400,000 in estimated annual savings, with solar power projected to account for more that half of those saving.

The estimated price tag for these energy savings upgrades would be $11.75 million, with ETHS entering an energy saving performance contract with a contractor to finance the project.

The district would issue debt certificates over a 20 -year period to cover the up-front costs to install the energy efficiency measures.

Once the work is completed and debt payments are due, the projected financial savings would be used to cover the debt payment.

The contractor would assume the risk in achieving the guaranteed energy savings, Williams said.

“They’re obviously conservative in their approach … because they know that they’ll be on the hook,” said Williams. “If they say that we’re going to save $400,000 and we only save $200,000, they cut us a check for $200,000.”

A third-party review of the project and the proposed saving will still need to occur before a final agreement can be brought to the board.