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Nevada Revised Statutes Title 27. Public Property and Purchasing § 332.420. Monitoring of cost savings attributable to operating cost-savings measures

Current as of January 01, 2021 | Updated by FindLaw Staff

1. During the term of a performance contract, the qualified service company shall monitor the reductions in energy or water consumption and other operating cost savings attributable to the operating cost-savings measure purchased or installed under the performance contract, and shall, at least once a year or at such other intervals specified in the performance contract, prepare and provide a report to the local government documenting the performance of the operating cost-savings measures.

2. A performance contract must identify the methodology that the local government will use to validate the cost savings identified by the qualified service company.

3. A qualified service company and the local government may agree to make modifications in the calculation of savings based on:

(a) Subsequent material changes to the baseline consumption of energy or water identified at the beginning of the term of the performance contract.

(b) A change in utility rates.

(c) A change in the number of days in the billing cycle of a utility.

(d) A change in the total square footage of the building.

(e) A change in the operational schedule, and any corresponding change in the occupancy and indoor temperature, of the building.

(f) A material change in the weather.

(g) A material change in the amount of equipment or lighting used at the building.

(h) Any other change which reasonably would be expected to modify the use of energy or the cost of energy.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 27. Public Property and Purchasing § 332.420. Monitoring of cost savings attributable to operating cost-savings measures - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-27-public-property-and-purchasing/nv-rev-st-332-420/

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