NC S547

Requires qualified providers to be prequalified by the State Energy Office according to established criteria before entering into guaranteed energy savings contracts.

Establishes "qualified reviewer" definition as a licensed architect or engineer experienced in energy efficiency measures to evaluate proposals for both local and state governmental units.

Changes security bond requirement from 100% of total project cost to 100% of guaranteed savings for the contract term.

Specifies measurement and verification methodologies using Department of Energy guidelines, IPMVP, or ASHRAE standards, with allowance for alternate methods if none are sufficient.

Authorizes North Carolina State University and University of North Carolina at Charlotte to implement energy conservation measures without entering guaranteed energy savings contracts, subject to Board of Governors approval.