Did you know that your business could get paid to save energy? Energy Service providers often offer incentive programs to encourage businesses to save energy. Businesses can receive money for installing high efficiency lighting, HVAC, and other qualifying equipment. Some energy efficient measures can cover up to 20% of your energy usage. Depending on the incentives used, you could potentially cover up to 75% of the project cost.
Why should businesses pursue an energy rebate? Let’s start with the obvious-the financial benefit. By utilizing rebates, you are offsetting the cost of new, more efficient equipment in your facility.
Your business would also be helping the environment. By installing high efficiency equipment your facility will use less natural resources, which will help the energy providers defer construction of additional facilities to meet demand, which can ultimately lead to lower energy rates.
Most providers offer incentives for both new construction and the retrofit of existing buildings. Typically, these incentives are grouped into several categories. One group of incentives typically seen are prescriptive. These are specific, predefined incentives are based on a fixed cost for installing an energy efficient solution. These incentives can include rebates for lighting, HVAC equipment, thermal storage, Variable Frequency Drives, pumps, food service, and information technology installations.
The next group is typically some kind of custom incentive offering. These are solutions not in the prescriptive list.
The final option is usually some form of Technical Assistance. These types of incentives will help pay for design assistance or energy or feasibility studies.
Next Steps: Most providers have a commercial version of their incentive program geared toward industrial and commercial businesses. Your first step may be to seek out a trade ally to walk you through the process and guide you through your project.
Most providers partner with, and educate, the companies that sell and install the energy efficient products covered in their incentive programs. They invest in these businesses so that they better understand details of each incentive, rules, and processes. This is ultimately to better serve you, their customer.
If you’re in North Carolina, you can visit Duke Energy to explore the incentives available in your area. You can also learn more about eligibility, how to participate, find local trade allies and more information about the application process.
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