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Deep energy retrofit projects can generate significant value for building owners through energy savings, subsidies, and reduced construction costs. Traditional requests for proposals (RFPs) favor the lowest bidder, but this can limit project performance. An RFP based on net present value (NPV) awards contracts to the project with the highest long-term value, increasing energy savings and project performance. NPV is a financial metric that evaluates a project's merit by considering costs, savings, incentives, and asset renewal over 15-20 years. An NPV-based procurement model has advantages, including deeper energy savings, highest value rather than lowest bidder, firms incentivized to save, ease of comparing projects, opportunities for value-added asset renewal, and aligned interests. The NPV-based procurement model can be carried out in one or two steps, with a request for qualifications (RFQ) preceding the RFP. The one-step process involves firms submitting comprehensive energy services proposals, which are evaluated based on criteria and requirements, with the winning proposal meeting all mandatory requirements and obtaining the highest score for weighted economic value.