Obama Commits $2B To Energy Efficiency Contracts

Law360, New York (December 2, 2011, 6:23 PM EST) -- President Barack Obama on Friday directed federal agencies to enter into $2 billion worth of contracts over the next two years to improve government buildings' energy efficiency, part of a larger initiative to upgrade public and private structures and create jobs.

The contracts should be performance-based, meaning the upfront costs are supposed to be covered by long-term energy savings gained from the upgrades, according to the president's memorandum. Agencies should prioritize energy conservation measures with the best return on investment, the memorandum said.

“Upgrading the energy...
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