August 26, 2019
Working in the clean energy ecosystem inevitably leads to an ‘alphabet soup’ of acronyms. This is the first of a several-part blog series breaking down the many acronyms that help power Minnesota’s clean energy economy. This post will clarify seven acronyms regarding energy policies and financing options:
ESCO -- energy savings contract organization
An organization that delivers a variety of energy services such as designing energy savings projects, energy conservation, power generation and supply, retrofitting, and more.
EPC - Engineering, Procurement and Construction
A common form of contracting agreement that ensures the engineering and construction contractor will provide the design, equipment and materials, and follow through with the construction.
PACE -- Property Assessed Clean Energy loan
A financing tool that dramatically reduces upfront costs for clean energy projects by allowing projects to be paid through property taxes for a specific time period. Learn more about PACE in our blog post here.
CAFE -- Corporate Average Fuel Economy
The CAFE Standards are regulations that work by increasing the fuel economy of cars and light trucks in order to reduce energy consumption.
GESP -- Guaranteed Energy Savings Program
A program that assists Energy Savings Performance Contracts by reviewing the contracts, providing project management, and ensures that the energy savings are met. Want to learn more? Check out our blog post here.
LEED -- Leadership in Energy and Environmental Design
A green building certification system that ensures that a building was developed using sustainable techniques and materials.
CIP - conservation improvement program
A program that helps residential and commercial customers become more energy efficient through a variety of actions such as rebates and air-conditioner cycling programs.