Financing
Performance Contracting
Extraordinary
savings and returns are associated with an investment in energy efficiency
and Financial Energy makes these upgrades available to customers who don’t
have the capital. Financial Energy can provide 100% of the up-front
financing. We are then compensated through the monthly utility savings. When
the improvements are paid off, the subsequent savings are yours. If you
have money budgeted to pay current utility bills, then you have the funds
necessary to invest in energy efficient upgrades!
Guaranteed Savings Plans
Financial
Energy also offers our customers the option to finance under our Guaranteed
Savings Plan. There are three sources of funds offered under this program:
- A lease purchase with Financial Energy as the lessor
- A lease purchase using a third party lessor
- Customer obtained financing
All of these options require that the customer meet a fixed monthly payment
based on the value of the equipment installed. Financial Energy guarantees
that the combined monthly savings (energy, water, maintenance, AC) will
cover these fixed finance payments. The customer enters into an Energy
Services Agreement with Financial Energy to cover the cost of the equipment
and maintenance. The performance contract includes the terms of the
guarantee, savings calculation methodology and the equipment warrantee. Any
savings shortfalls are covered by Financial Energy for the term of the
energy services agreement.
Rebate Programs
Many utility providers offer rebate programs that provide cash incentives
for purchasing qualified energy efficient improvements. These programs are
often only available for a limited time, and are offered on a first come,
first serve basis. Financial Energy has taken part in such programs in
numerous states, and can help your company take advantage of existing gas
and electric rebate programs in your area. During the audit process, we will
research and estimate the value of your potential rebates and will present
them with the rest of the audit report.
Commercial Property- Assessed Clean Energy (PACE) Financing
The property-assessed clean energy (PACE) financing method is a
relatively new mechanism for financing energy efficiency and renewable
energy improvements on private property. PACE allows a building owner to
finance improvements through a special assessment on the property, which is
paid back over time by property tax collections (typically paid for by the
tenants in commercial buildings). Property owners agree to repay their
improvement costs over a set time period- typically 10 to 20 years- through
property assessments. These assessments are secured by the property itself
and they are paid as an addition to the owners’ property tax bills.
Nonpayment generally results in the same set of repercussions as the failure
to pay any other portion of a property tax bill.