Noresco has joined the Clinton Climate Initiative. As a participant in the C40 Large Building Retrofit Program, the company will provide building retrofits for city buildings and financially guarantee reductions in energy usage.
Energy retrofits with performance guarantees, known as energy services performance contracts, are familiar financial tools to some U.S. states, cities, counties, school districts, and higher education facilities. CCI is making it easier for large cities to tap performance contracting resources, thereby increasing the total market. It is calculated that energy use in buildings is responsible for over 50 percent of greenhouse gas emissions in most cities. Retrofits can reduce energy use by 20 to 50 percent in existing buildings, pay for themselves through reductions in energy usage, and reduce harmful emissions and pollutants, according to Noresco.