The Energy Savings Warranty program insures energy savings guarantees that are asserted by LEED contractors who perform energy retrofits. Typical customers are schools, municipalities, convention centers, warehouses and other commercial facilities.
The following are benefits an Energy Savings Warranty provides to a property owner and/or funding institution.
- The 10-year Energy Savings Warranty cannot cancel.
- The property owner or financial institution is listed as a “Loss Payee” on the policy document. Premium is collected at the beginning of the term, allowing the policy to remain in force in the event of savings shortfall. Property owners and banks are able to collect against covered losses even if the contractor is no longer in business.
- With the Energy Savings Warranty, contractors are able to provide an investment grade guarantee on the project’s performance.
- The carrier’s in-house engineers will review the project’s specific information including design layouts, savings projections and technology. The engineering review provides additional security to your project and further ensures the designed system is able to meet guaranteed performance levels.
- By receiving an energy savings guarantee from a recognized world-leading insurance company, property owners can have peace of mind in the credibility and service provided by you, the contractors providing the energy savings retrofit.
- The carrier’s experienced claims handling team will continually monitor realized savings in order to proactively address any claims that may arise. We look at addressing and correcting the problem before the shortfall becomes severe and cash flow is compromised.