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Climate Action Plan - Binghamton University

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SECTION 6 - FINANCINGFinancing of the proposed projects will come from several sources:Capital Projects - The <strong>University</strong> will continue to advocate to the State <strong>University</strong> of NewYork for capital investment in building renovation to improve energy efficiency. The capitalinvestment will not only aid in reducing the campus’s energy consumption, it will also fuelthe local and state economies.Performance Contracts - Many large companies offer ―performance-based‖ contracts forenergy efficiency, renewable energy and cogeneration type projects. This type of financingstructure will transfer the capital burden and system performance risk to the contractors. Thecustomer will in turn make installments based on calculated savings generated with theproject.Energy Efficiency Projects - The <strong>University</strong> will continue to support using surplus utilityfunds to invest in energy-efficiency projects. This is a revolving process and as more andmore energy-efficiency improvement projects are completed, more savings will be realizedfor future investments.Renewable Energy Credits - RECs will be included in the utility budget as it is a statemandatedcost.NYSERDA Incentive Programs - the New York State Energy Research and DevelopmentAuthority (NYSERDA) collects a ―System Benefit Charge‖, part of all utility bills, whichfunds energy-efficiency and renewable-energy projects. The <strong>University</strong> is an activeparticipant in many incentive programs.Research Grants - Federal, state and other grants will be sought for our research efforts.~ 30 ~

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