90-4-605. Preparation of energy conservation program. (1) The division shall identify buildings or building systems that have a potential for energy savings, based on age, energy use, function, and condition of the building. On request of the division, a state agency shall provide the division with information necessary to allow the division to comply with this requirement.

(2) Based on the criteria in subsection (1) and on the feasibility of leveraging other funds, such as federal and utility energy conservation program money, the division shall select certain facilities for in-depth energy analyses to identify the technical and financial feasibility of making energy conservation improvements to the facilities.

(3) (a) On completion of the energy analyses, the division shall identify estimated costs and savings to the state based on these analyses.

(b) The division shall identify each project for which the estimated savings are determined to be greater than the cost of the project plus annual interest payments on the unpaid balance of the cost of the project.

(c) The division shall implement a design and construction project using funds from the general fund or the energy conservation capital projects account established in 90-4-617 for the costs of the project.

(4) The division shall compile a report that must include the following:

(a) a listing of contacts between the division and other state agencies;

(b) a summary of the division's review of agency requests and a selection of projects for in-depth analysis;

(c) a summary of the energy analyses conducted by the division, including the estimated cost of each proposed project and the estimated energy cost savings of each proposed project; and

(d) a listing of additional projects under consideration, for which energy analyses have not been conducted.

(5) The division shall submit the report required by subsection (4) to the governor before September 1 of each even-numbered year.

(6) The division shall set the annual interest rate for projects funded by the energy conservation program by July 1 of each year. The annual interest rate may not exceed 3%. The division may set the annual interest rate to cover administrative costs of the program.