Sec. 2.
"Cost-effective" means that the present value to a governmental unit of the energy, utility, capital cost avoidance, capital improvement, and operational costs and revenues reasonably expected to be saved or produced by a facility, activity, measure, equipment, or system over its useful life, including any compensation received from a utility, is greater than the net present value of the costs of implementing, maintaining, and operating such facility, activity, measure, equipment, or system over its useful life, if discounted at the cost of public borrowing.
History: 2012, Act 625, Eff. Mar. 28, 2013
Structure Michigan Compiled Laws
Chapter 18 - Department of Management and Budget
Act 625 of 2012 - Cost-Effective Governmental Energy Use Act (18.1711 - 18.1725)
Section 18.1711 - Short Title; Meanings of Words or Phrases.
Section 18.1712 - "Cost-Effective" Defined.
Section 18.1713 - Definitions; C, D.
Section 18.1714 - Definitions; E to O.
Section 18.1715 - Definitions; P to U.
Section 18.1718 - Annual Report.
Section 18.1719 - Cost-Savings Measures at Governmental Facilities; Departmental Assistance.
Section 18.1720 - Fees Charged by Department; Limitation.
Section 18.1721 - Investment Grade Energy Audit.
Section 18.1722 - Use of Designated Funds, Bonds, or Master Lease; Financing by Third Party.
Section 18.1723 - Energy Performance Contract; Provisions; Extension; Limitation.
Section 18.1724 - Annual Reconciliation of Energy Savings; Liability for Shortfall; Report.