Financing Solutions Enable Energy Efficiency Utilities to offer “full service” to Business customers

Challenge:

Efficiency Vermont is an Energy Efficiency Utility run by VEIC that works with homeowners and businesses to help them save energy and money. While helping customers identify opportunities for reducing their energy bills, Efficiency Vermont's Energy Consultants often hear, "This sounds like a good idea, but I don't know where I'll get the money."

To tackle the age-old problem of financing, Efficiency Vermont set out to help businesses secure the resources to pay for efficiency and start saving money immediately.

Solution:

VEIC developed a financing approach that combines loans with traditional energy efficiency incentives. Combined with technical assistance and cash flow analysis, Efficiency Vermont helped business owners make efficiency improvements and realize positive cash flow.

EVT used the financing plan to help Northshire Brewing improve their bottom line:

Northshire Brewing owner, Chris Mayne contacted Efficiency Vermont when he realized that the equipment upgrades were going to cost more than he had estimated. Efficiency Vermont combined financing and cash incentives for energy improvements, resulting in monthly savings that more than covered Mayne's monthly loan payment.

Results:

  • Financing options allow utilities to overcome financial barriers to executing business efficiency projects.
  • Business owners benefit from comprehensive technical assistance that helps them identify and prioritize opportunities for efficiency improvements.
  • By retrofitting inefficient equipment or processes to more than cover monthly payments, business customers can realize positive cash flow.
  • By combining financing solutions with incentives, utilities help provide customers with a turnkey approach to investing in energy efficiency.