The Singapore Green Building Council (SGBC) and the Building and Construction Authority (BCA) will come up with a list of contractual guidelines, in order to help building owners cross financial hurdles in the initial stage of remodelling their buildings with features for boosting energy-efficiency.
The template of energy performance contract (EPC) will indicate important conditions of the agreement between a building owner and contractor who is retrofitting the building with energy efficient features, reported Channelnewsasia.com.
The BCA and SGBC said that this is for ensuring 'building owners can better focus on the critical component in any EPC: The amount of energy savings guaranteed'.
In an EPC template, a firm will have to specify the energy savings of a building over a certain period of time.
These savings could be shown either in terms of monetary benefits or as a percentage, reported Channelnewsasia.com.
This template complements BCA's Building Retrofit Energy Efficiency Financing (BREEF) programme, which provides financing options to building owners, EPC firms, Management Corporation Strata Titles (MCSTs), and special purpose vehicles for retrofits to bolster energy efficiency.
The regular template will be available from SGBC by early next year. All the EPC firms that have been certified under Singapore Green Building Services labelling programme of SGBC will also use the contract for their building projects.
Singapore had become one of the 18 nations to sign a pact at the United Nations Climate Change Conference (COP21) in Paris, to accelerate efforts to reduce emissions in the buildings and construction sector, reported Straitstimes.com.
It had signed up the Global Alliance for Buildings and Construction in Paris.
It is estimated that if the buildings and construction sector embraces innovative technologies, it can cut down approximately 3.2 billion tonnes of carbon dioxide by 2050.