HI HB2255

Authorizes state agencies to enter into energy performance contracts lasting up to 25 years (including construction period) to finance energy efficiency improvements and renewable energy installations.

Guarantees agencies continue receiving annual operating budget appropriations equal to the greater of pre-retrofit budget with escalation or actual financing costs plus energy cost escalation and utility usage costs during the contract term.

Requires agencies implementing energy performance contracts to submit annual reports to the Energy Resources Coordinator detailing energy use, energy savings, cost savings, investment amounts, and incentives received.

Establishes that guaranteed-savings contracts must have payments from private contractors less than actual verified energy savings, with contractors liable to reimburse agencies within 30 days if actual savings fall short of guarantees.

Streamlines energy performance contract procurement by allowing selection based on experience, technical approach, financial arrangements, and overall benefits rather than lowest cost; removes reference to outdated retro-commissioning guidelines.