According to Federal Times, the US Department of Energy (DOE) will soon announce a set of new contracts under the Super Energy Savings Performance Contracts (ESPC) Program, by which agencies will be able to finance as much as $50 billion over the next 10 years.

The new contracts’ size and scope are larger than existing contracts and should lead to a larger investment in domestic and energy savings contracts, according to Richard Kidd of the Federal Agency Management Program. Until now, ESPCs have been mostly limited to regional domestic projects, which means separate task orders are required when agencies want to upgrade in different regions of the country. The new contracts are national or international and allow contractors to do business.

Right now, about 10 contractors are expected to get contracts under the program, which will also extend the maximum payback period from 20 years to 25 years while increasing the maximum amount of business per company from $750 million to $5 billion. The authority for ESPCs is now permanent, and this will allow for projects that take longer but will ultimately be more fruitful, Kidd said.

Among the plans that come under the scope of the program are photovoltaic panel installation. Right now, six companies have Super ESPC contracts: Honeywell International, Johnson Controls Government Systems, Noresco, Ameresco Solutions, Constellation Energy Projects and Services Group and Chevron USA.