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Energy Performance Contracting Services AMERESCO(4 (.-rire(_-,in « 011e <,ar) - Surstainaltilie system dynamics, the solar design, and the customer's expectations. Any potential necessary future adjustments such as weather variability will be identified, and a process will be determined to ensure accurate accounting of the savings for the project. Ameresco will work closely with South Bend to develop an M&V plan that provides for accurate savings verification for all categories of savings in a cost-effective manner. Operational Savings and Capital Cost Avoidance Savings Operational Savings/Capital cost avoidance savings, which is another savings stream often considered within the project, result from avoided expenditures for operations, maintenance, equipment repair, equipment replacement, and/or capital funds for projects that, because of the project, will not be necessary, including costs of planned renovation, renewal, or repair avoided as a result of the project. Actual annual savings from capital cost avoidance shall be determined based on guidance from the U.S. Department of Energy Federal Energy Management Program's publication How to Determine and Verify Operating and Maintenance (O&M) Savings in Federal Energy Savings Performance Contracts, November 2007. This guidance allows for cost savings from avoided renovation, renewal, or repair costs as a result of the project. In order to identify capital cost avoidance savings, Ameresco uses engineering standards including lifecycle costing analysis and the R.S. Means estimating method. Customer participation is typically required to assist in identifying and measuring operational and capital cost avoidance savings. It is possible that the installed scope of work will create a future operational cost, which should also be factored into this savings stream. ii. Which will be considered available to the Owner to repay Owner's financing All savings streams combined are used to determine the Annual Savings Guarantee as part of Ameresco's projects. iii. Which will be measured vs stipulated The development of a specific M&V plan is unique to each project. This includes the M&V options selected, how often formal reporting will be provided, and which, if any, ECMs will include stipulated savings. Ameresco will typically perform M&V activities for each of the major ECMs and renewable assets in order to calculate the actual cost savings achieved as a result of the project. Savings for ECMs with no or relatively low savings will typically be stipulated/agreed-upon, as the cost to perform M&V exceeds the value of the savings. By definition, agreed -upon savings are deemed satisfied on the basis of the energy savings calculations and the installation of the ECM without the need for further measurements. Ameresco employs a performance verification process for agreed -upon savings that involves site visits to ensure the ECMs are being properly utilized to maintain the expected savings. Using the performance verification process for agreed -upon savings for smaller ECMs significantly reduces the costs associated with M&V activities. City of South Bernd ••• August 27, 2019 57 12. Financial Guarantees `.h aqe corulent is subject to Confidentiality Restriction s"