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May 30, 2007: Seminary to Improve Efficiency with $500,000 Performance Contract

May 30, 2007
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DALLAS - The Southeastern Baptist Theological Seminary in Wake Forest, N.C., has signed a $500,000 performance contract with the Energy Solutions division of TAC, which will provide facility upgrades to improve operations, comfort, and efficiency in the seminary’s buildings. Southeastern Baptist is expected to reduce utility costs by nearly $53,000 annually when the project is completed this spring.

TAC is delivering this project through performance contracting, a turnkey contracting method whereby the design, construction, commissioning, and performance measurement are incorporated into one guaranteed fixed price. Improved facility efficiency and comfort are among the long-term results TAC delivers as the single provider accountable for all aspects of the project. Performance contracting projects are funded in a variety of ways, including general obligation bond funds, maintenance reserve funds, and financing secured against guaranteed energy savings. TAC guarantees the amount of savings the projects will achieve and agrees to pay the difference if that amount is not realized. Typically, new, more efficient equipment and upgraded facility automation systems generate the utility savings, as well as maximize energy efficiency and improve occupant comfort.

Administrators at Southeastern Baptist Theological Seminary were concerned about high energy and water costs, aging buildings, and the lack of a unified control system. In addition, the maintenance staff had limited time to perform preventative projects on the fast-growing campus. Officials with the city of Wake Forest encouraged the seminary, one of the city’s largest electric customers, to pursue the performance contracting option as a solution that would save both electricity and water.

“Thanks to the energy saving performance contract from TAC, we will be able to improve the overall efficiency of the campus without additional budget funds,” said Ryan Hutchinson, senior vice president for business and administration at Southeastern Baptist Theological Seminary. “The performance contract will lower the average operating cost per square foot in our buildings, and the project will reduce our utility budget by 10 percent or more. This allows Southeastern Baptist to apply more funds toward our educational mission, not buildings.”

TAC is implementing energy conservation measures (ECMs) in 11 campus buildings that encompass more than 300,000 square feet. These ECMs include an expanded and upgraded energy management system (EMS), an energy-efficient lighting retrofit, and installing high efficiency water and restroom fixtures.

“Students, faculty, and other staff at Southeastern Baptist Theological Seminary will enjoy a better learning and working environment as a result of these facility updates,” said Wes McDaniel, vice president of TAC Energy Solutions. “With the new EMS, the facility staff will have better control over campus buildings for maintenance and troubleshooting.”

McDaniel notes that Southeastern Baptist will save 556,410 kWh of electricity annually, which reduces CO2 emissions from power plants by 417 tons. This is equal to planting 114 acres of trees. In addition, the seminary will also save 2.3 million gallons of water annually because of the new efficient plumbing fixtures.

For more information, visit www.tac.com.

Publication date: 05/28/2007

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