Investment-Grade Energy Audits

(1) The qualified energy service provider selected by a governmental entity in accordance with 90-4-1112 shall prepare an investment-grade energy audit. The audit must be incorporated into an energy performance contract. (2) An investment-grade energy audit must include estimates of all costs and guaranteed cost savings for the proposed energy performance contract including: (a) design; (b) engineering; (c) equipment; (d) materials; (e) installation; (f) maintenance; (g) repairs; (h) monitoring and verification; (i) commissioning; (j) training; and (k) debt service. (3) (a) A qualified energy service provider and the governmental entity shall agree on the cost of an investment-grade energy audit before it is conducted. (b) If an investment-grade energy audit is completed and the governmental entity does not execute an energy performance contract, the governmental entity shall pay the full cost of the investment-grade energy audit. (c) If the governmental entity executes the energy performance contract, the cost of the investment-grade energy audit may be included in the costs of an energy performance contract or, at the discretion of the governmental entity, be paid for by the governmental entity.