Financing For Commercial Lighting Projects
It's a great idea to finance your energy efficiency projects, so you can - PAY AS YOU SAVE.
You can lower your energy costs, and achieve a quick payback on your investment all while preserving cash and lines of credit. With our funding options, you will realize positive cash flow benefits on day one by:
- Eliminate upfront project costs
- Utilize energy savings to pay for the project
- Utilize utility incentives to off-set your Return on Investment (ROI)
- Enjoy the many benefits of an improved energy efficient building system
To help businesses invest in energy-efficiency upgrades, utilities are offering along with cash advance of up to 80% of the project costs - On-Bill financing.
What is On-Bill Financing?
On-Bill financing refers to a loan made to a utility customer to help them pay for their share of the project cost. The advance is fast, easy and is repayable through your electric bill, with 0% interest, in monthly installments of up to 24 months.
On-Bill financing programs are a promising way for utilities to help their customers invest in energy efficiency improvements, such as upgrading to high-efficient equipment. These upgrades can deliver valuable efficiency to the utility, reduce customer's energy expenses, improve the value of properties, create jobs, and improve the environment. Because efficiency delivers so much value, many cities, states, and utilities across the country are exploring on-bill programs as a way to help customers finance energy saving upgrades to their buildings.
Property Assessed Clean Energy (PACE) is a financing tool that allows property owners to repay the cost of energy efficiency, water and renewable energy improvements over time through a special assessment that's placed on your property. PACE can cover 100% of project costs with no out-of-pocket payments and offers up to 20-year fixed rate financing at affordable terms for commercial, multi-family, or institutional buildings. Both large and small energy projects can qualify.
If you own or manage commercial property, PACE can help you invest in energy, water, and infrastructure improvements for your building. All commercial buildings are eligible, including office, multi-family, industrial, institutional and retail properties. Non-profit-owners who do not currently pay real estate taxes can still participate. PACE financing can be used to invest in a variety of energy saving measures and upgrades to building systems, including mechanical equipment like boilers, chillers, and HVAC, as well as solar panels, lighting, windows, building controls, cogeneration, geothermal, water and waste water systems, and many more.
Pace Financing Offers
- 100% up-front financing with no out of pocket payments for audit and project costs
- Building improvements that pay for themselves through utility savings
- Enhanced asset values from improved cash flows and better operations
- A potentially off-balance-sheet alternative to traditional debt
PACE offers a complete financing solution to improve the comfort, cash flow, operations, and competitiveness of your property.
- Fix your building without the upfront cost PACE can finance 100% of project costs including energy audits, engineering, design, and other soft costs with no out of pocket payments required.
- Earn immediate returns on investment When energy savings exceed the cost of PACE assessment payments, owners realize stronger cash flows immediately and improved asset value over time.
- Access competitive financing terms PACE works with property owners to underwrite a financing package that meets your needs, with low rates and terms extending up to 20 years to reduce annual payments.
- Increase your confidence in energy savings A third party engineer validates projected savings for all PACE projects, and a measurement and verification (M&V) plan ensures results over time.
- Align the costs and benefits of upgrades PACE payments transfer with your property on sale instead of being tied to your credit, while under most leases, PACE overcomes tenant split incentives.
- Reduce total project costs with other incentives PACE is compatible with other rebates and tax incentives from Renewable Energy Credits (RECs), Utilities and the IRS. We finance what's left.
PACE for Building Owners & Property Managers
PACE Commercial Financing can provide a valuable source of up-front capital to finance clean energy projects and fund the repair and replacement of critical capital equipment within your building. PACE is an important tool to finance stand-alone projects with no out of pocket payments, or it can help close financing gaps in larger projects, offsetting the need for more expensive equity investment.
PACE financing offers many benefits over conventional financing, including:
- 100% financing for project costs, including soft costs like energy audits and engineering
- Utility savings that exceed monthly debt-service payments to improve cash flows and net operating income on day one
- Enhanced asset value through improved cash flows and more efficient operations
- Up to 20 year amortization at fixed rates, to enable deeper retrofits and reduce monthly costs for building owners
- Repayment through a tax assessment that transfers with the property title and is not tied to the borrower
- Simpler and more transparent projects through comprehensive energy modeling and independent engineering validation to ensure that energy savings are realized
Green Lease Management Program
LewLew Energy's Green Lease Management Program (GLMP) is a unique system designed to save our client's money, and allow them to upgrade their facility with energy efficient solutions with no money paid up-front, and positive cash flow from day one. The GLMP is designed to:
- Provide an actual reduction in total cost of lighting including the electrical utility cost attributed to lighting
- Option of a zero-advance cost finance program
- Financing is typically five years, however, can vary from one to ten years
LewLew Energy will complete all paperwork relative to incentives, certificates or forms required by utilities. The retrofit of your facility will take place through distinct and logical steps. After you have consulted with one of our Energy Consultants, expressed an interest in the program and submitted an electric bill for analysis the following will occur:
- Physical audit of your facility
- Identify utility incentives for the project
- Proposal is generated for review and approval
- Determine funding option
- Design and approval of the retrofit
- Retrofit of energy efficiency solutions
- Savings begin
LewLew Energy installs the finest and most efficient lighting available in the industry. The benefits of upgrading:
- Immediate and continuing financial savings
- Increase the value of your business asset
- Long-term reduction of Greenhouse Gas Emissions help curb global warming
- Better, higher output lighting results in lighter and brighter working conditions.