Performance Contracting (PC) is an effective and proven method for addressing capital improvement projects without an upfront cost. PC is a procurement tool that allows agencies to leverage the savings gained from making facilities more efficient to pay for those improvements. The City of Deerfield Beach identified the need for efficiency and infrastructure improvements and PC as a solution to this need.
The improvements through this project equate to a $9.2 million investment. Over the course of 17 years, the City is guaranteed to save $15 million on electricity, water and operational costs. The investment will be paid for using these savings over a 15-year term.
Siemens is one of the world’s largest producers of energy-efficient, resource-saving technologies, focusing on the areas of electrification, automation and digitalization. Siemens was selected for the City’s PC project through a competitive solicitation process.