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      RISK FRAMEWORK FOR ENERGY PERFORMANCE CONTRACTING BUILDING RETROFITS

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          Abstract

          Energy performance contracting (EPC) has emerged as a useful project financing and delivery tool for building retrofits, particularly among building ownerships which have experienced reduced funding for capital projects. Through EPC, a contractor (called the EPC contractor or the energy service company) guarantees minimum energy savings performance and enables the building owner to finance the project using utility savings over the length of the project (which is typically 12–15 years, or longer). Despite its growing use, there is a dearth of literature regarding a contractor's risks related to the delivery and execution of EPC building retrofits. This is particularly important as the performance guarantee effectively transfers project performance risk from the owner to the EPC contractor. This research proposes a project factors-based risk framework for EPC building retrofits, initially developed through a comprehensive review of relevant literature and project documents and refined through the elicited expertise of 19 highly experienced EPC contracting professionals. A Delphi technique-based expertise elicitation strategy was used to confirm the findings of the a priori (literature-based) framework and provide additional analysis related to risk causes and control measures as well as relative risk importance. This information was used to construct a refined risk framework which provides insight into the lengthy project performance period during the earliest phases of the project's life cycle. This has the advantage of providing rapid screening of the project factors that can potentially lead to the greatest project performance risks.

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                Author and article information

                Journal
                jgrb
                Journal of Green Building
                College Publishing
                1552-6100
                1943-4618
                1943-4618
                Spring 2016
                : 11
                : 2
                : 93-115
                Author notes

                1. PhD, LEED AP BD+C, Michigan State University, School of Planning, Design, and Construction, 552 W, Circle Drive, East Lansing, MI 48824, berghorn@ 123456msu.edu

                2. PhD, LEED AP, Michigan State University, School of Planning, Design, and Construction, 552 W, Circle Drive, East Lansing, MI 48824, syalm@ 123456msu.edu

                Article
                jgb.11.2.93
                10.3992/jgb.11.2.93.1
                ©2016 by College Publishing. All rights reserved.
                Page count
                Pages: 23
                Product
                Categories
                RESEARCH

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