The “Energy Savings Improvement Program” (ESIP) is an alternate funding vehicle that offers school districts in New Jersey the ability to pursue energy related school infrastructure improvements (HVAC, control systems, lighting, building envelope – windows, doors & roofs) without the need to go to a bond referendum, incur additional debt service, or deplete already thin capital improvement funds. ESIP allows districts to self-fund these projects through future expected energy savings.
With minimal state aid on capital projects expected in upcoming years and with the available “Pay for Performance” rebates available to school districts in New Jersey, the need to explore creative programs, such as ESIP, has never been greater. This presentation will discuss the program, its benefits, its pros and cons compared to traditional school infrastructure funding, and the process to explore it as a viable vehicle.