U.S. Department of Energy Names SmartWatt To Elite List of Top Energy Services Companies
SmartWatt was recently named as one of 21 next generation top energy services companies chosen by the U.S. Department of Energy as the most qualified in the United States.
The 21 private-sector energy services companies were awarded a Department of Energy (DOE) Indefinite Delivery Indefinite Quantity (IDIQ) Energy Savings Performance Contract (ESPC). Through this contract, the top energy services companies will improve energy and water infrastructures at federal facilities across the United States.
For SmartWatt, it was a honor to be named as an industry leader and as one of the top energy service companies based on the breadth of their experience modernizing infrastructures for government entities of all types and sizes.
“It is an honor to be named a top energy service company and awarded this contract by the Department of Energy. It’s a true milestone in SmartWatt’s 15-year history,” said Chris Covell, SmartWatt’s President and CEO. “As a company, we have always put a focus on helping our diverse customers modernize their infrastructures and reduce operating costs, while simultaneously improving their facilities and communities for the people that work, play and live there. We are excited to continue this approach as we partner with federal entities through this contract.”
This contract mandates that the energy services company guarantee the improvements will generate annual energy savings to pay for the project over the contract term. The top energy service companies can now design, construct, install and provide financing support for energy and water savings projects at federal facilities.
According to the U.S. Department of Energy, the federal government has been awarding energy savings performance contracts at an investment of approximately $2 billion every three years. Federal agencies can work with the selected list of 21 energy services companies under this contract for a five year period, with an extension period of 18 months.
“A key component is that these energy and water efficiency projects at federal facilities pay for themselves, and the hope is that all federal agencies will utilize this financing method to the fullest extent,” said Energy Secretary Rick Perry in a press release. “This program highlights how the public and private sector partnerships can align with the Administration’s objectives for increased energy efficiency and job creation without burdensome regulations.”
Covell believes his company was named to the list of top energy service companies because of his team’s unique approach to every customer partnership.
“An energy performance contract is a great tool for government entities of all types and sizes,” Covell said. “It allows public entities to modernize their infrastructures with no capital expenditures and removes virtually all risk from the customer and places it on the energy services company. This model aligns well with how SmartWatt has done business from day one. We’ve always put a focus on partnering with our customers and supporting them throughout every stage of the process until we’re both satisfied that they’ve been given the solution that best fits their needs. It’s not about lining our pockets, it’s about giving the customer everything they need and nothing they don’t.”