Utility Company Incentives and Financing
Utility companies in New England and New York are leading the way in helping organizations achieve a higher level of energy efficiency by providing incentives geared toward lowering the cost of energy efficiency projects. For example, Massachusetts energy efficiency programs through MassSave has over $3 billion dollars to spend over the next 3 years to lower the consumption of gas and electricity for public and private organizations of all types and sizes.T.E.M. Energy Solutions provides you with the tools you need to identify the right types of energy efficiency projects at your building or facility, and we help you obtain the incentives that are rightfully yours under these programs. Our services include:
Utility companies in New England and New York are leading the way in helping organizations achieve a higher level of energy efficiency by providing incentives geared toward lowering the cost of energy efficiency projects. For example, Massachusetts energy efficiency programs through MassSave has over $3 billion dollars to spend over the next 3 years to lower the consumption of gas and electricity for public and private organizations of all types and sizes.T.E.M. Energy Solutions provides you with the tools you need to identify the right types of energy efficiency projects at your building or facility, and we help you obtain the incentives that are rightfully yours under these programs. Our services include:
Onsite Energy Audit: Our energy specialists will come to your facility to review opportunities that provide a high return on your investment. Our goal is to SAVE YOU MONEY and help to obtain utility incentives that greatly reduce the overall burden of energy efficiency projects.
Payback: We will document which opportunities provide the greatest return on your investment while providing cost estimates, eligible incentives, and an overall return on investment summary for you to consider.
Incentive Applications: Most folks struggle to understand which incentives they are eligible for and how to obtain this money. Our energy specialists understand the process and paperwork required. Let us handle the burden of this process and ensure you obtain the highest funding possible. We prepare the paperwork and deal directly with the utility company on your behalf. This often includes a site walk with a utility representative to ensure your application is approved.
Tax Credits: Certain energy efficiency solutions are eligible for state and/or federal tax credits. We can help you identify which credits may apply to you and what value these credits may have in relationship to your investment.
Installation: T.E.M. handles the installation of these energy efficiency measures to ensure the utilities' post-inspection goes smoothly and funding is released. Our high level of customer service and understanding of return on investment ensures you will be pleased with the outcome of each project.
Ongoing Support: Our staff continues to follow up post-installation to ensure these measures are working properly. Our goal is to help you maximize your investment.
Payback: We will document which opportunities provide the greatest return on your investment while providing cost estimates, eligible incentives, and an overall return on investment summary for you to consider.
Incentive Applications: Most folks struggle to understand which incentives they are eligible for and how to obtain this money. Our energy specialists understand the process and paperwork required. Let us handle the burden of this process and ensure you obtain the highest funding possible. We prepare the paperwork and deal directly with the utility company on your behalf. This often includes a site walk with a utility representative to ensure your application is approved.
Tax Credits: Certain energy efficiency solutions are eligible for state and/or federal tax credits. We can help you identify which credits may apply to you and what value these credits may have in relationship to your investment.
Installation: T.E.M. handles the installation of these energy efficiency measures to ensure the utilities' post-inspection goes smoothly and funding is released. Our high level of customer service and understanding of return on investment ensures you will be pleased with the outcome of each project.
Ongoing Support: Our staff continues to follow up post-installation to ensure these measures are working properly. Our goal is to help you maximize your investment.
If you are searching for a way to cut your utility costs, please do not hesitate to contact us. These incentives are available on a first come, first serve basis each calendar year. Incentives are not guaranteed until your paperwork has been submitted and a letter of approval has been received.
The Cost of Doing Nothing
Once we have determined the potential savings and costs associated, most customers begin to evaluate the cost of the project vs. their return on investment. On average, our solutions are able to save the typical organization between 10% and 60% off of their annual utility expenses.
Let's assume that your annual utility expenses were $100,000 per year. Let's also assume that you we were able to implement a lighting or HVAC control system that will save 20% per year. In the first five years, your organization would save $100,000. If the solution costs $30,000, you would still save $70,000 and your system would be paid for in 18 months!
Return on Investment Example
Keep in mind that these incentives help reduce the overall cost and can ensure a very quick return on your investment. The following is an example of a utility company incentive on a project with cost savings/ROI:
Lighting Control system $125,000 Utility Paid $52,000
Customer Paid via Savings $72,500
Once the system is up and running, the company would save a minimum of $2500/month in electrical costs. T.E.M. Savings Payment option allows the customer to pay based upon the cost savings over a set period of time. The total payment does not exceed the annual cost savings.
In this case, the company would pay for the new system through savings in 29 months. On top of this cost savings, the company could apply for a tax credit for the fiscal year when the new system went into service.
The Cost of Doing Nothing
Once we have determined the potential savings and costs associated, most customers begin to evaluate the cost of the project vs. their return on investment. On average, our solutions are able to save the typical organization between 10% and 60% off of their annual utility expenses.
Let's assume that your annual utility expenses were $100,000 per year. Let's also assume that you we were able to implement a lighting or HVAC control system that will save 20% per year. In the first five years, your organization would save $100,000. If the solution costs $30,000, you would still save $70,000 and your system would be paid for in 18 months!
Return on Investment Example
Keep in mind that these incentives help reduce the overall cost and can ensure a very quick return on your investment. The following is an example of a utility company incentive on a project with cost savings/ROI:
Lighting Control system $125,000 Utility Paid $52,000
Customer Paid via Savings $72,500
Once the system is up and running, the company would save a minimum of $2500/month in electrical costs. T.E.M. Savings Payment option allows the customer to pay based upon the cost savings over a set period of time. The total payment does not exceed the annual cost savings.
In this case, the company would pay for the new system through savings in 29 months. On top of this cost savings, the company could apply for a tax credit for the fiscal year when the new system went into service.
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energy assessment for your facility?
Contact us today at (781)324-0348 to schedule your audit