NORESCO develops projects to include renewable energy sources such as solar, wind, geothermal, biogas, digester gas and biomass, that can be harnessed to generate electricity and produce heat and steam for our customers. The assets can complement existing systems or be used to achieve energy independence, especially at mission-critical and remote sites.
Programs, policies and legislations exist at all levels of the government – federal, state & local – to increase renewable energy generation and set standards for development. In many cases, significant utility and tax incentives are also available to help defray the high initial cost of installing these renewable energy technologies. Despite these enabling mechanisms and the trend towards lower capital costs for some renewable technologies, first cost remains a significant barrier to growth. According to the U.S. Energy Information Administration (EIA), only 13% of all U.S. electric generation came from renewable sources in 2013.
Renewable energy projects delivered by NORESCO require no capital outlay when associated with an energy savings performance contract. Instead, they are self-funded and can be bundled with other energy conservation measures to optimize overall efficiency, sustainability and savings on site. We evaluate renewable technology options to identify the best solution that meets environmental, financial and operational goals. We also supply the expertise necessary to optimize all available financial incentives.