Shared savings arrangements for campus energy efficient investments are discussed. Shared savings is a term for an agreement in which a private company offers to implement an energy efficiency program, including capital improvements, in exchange for a portion of the energy cost savings. Attention is directed to: types of shared savings arrangements being offered by the private sector and the way they work; the appropriateness of shared savings for a campus's energy management and financing programs; and negotiating a successful shared savings contract (SSC). Separate consideration is given to issues that may help public sector administrators to develop a shared savings program and to procure contracts. Steps that a shared savings firm will generally follow include a preliminary study, engineering analysis/identifying projects, and an engineering study. A checklist of energy management services that are needed to achieve efficiency is presented, along with advantages and disadvantages of the SSCs. The following elements of SSCs are discussed: calculating savings, schedule of savings, operations and maintenance, purchase option/contract buyout provisions, and contract contingencies. Information is provided on combining SSCs with other financing options, and a checklist is offered that should be considered in qualifying a firm. (SW)