(110 ILCS 62/5-15)
Guaranteed energy savings contract.
savings contract" means a contract for: (i) the implementation of an
energy audit, data collection, and other related analyses preliminary to
the undertaking of energy conservation measures; (ii) the evaluation and
energy conservation measures; (iii) the implementation of one or more
energy conservation measures; and (iv) the implementation of project
monitoring and data collection to verify post-installation energy
consumption and energy-related operating costs. The contract shall provide
that all payments, except
obligations on termination of the contract before its expiration, are to be
made over time and that the savings are guaranteed to the extent necessary
to pay the costs of
the energy conservation measures. Energy savings may include energy reduction and offsetting sources of renewable energy funds including renewable energy credits and carbon credits.
(Source: P.A. 96-1197, eff. 7-22-10.)