What is an Energy Retrofit?
A retrofit involves upgrading or replacing older equipment, systems or controls in buildings to improve operational efficiency, increase occupant comfort, enhance indoor environment quality, while reducing energy costs & operational expenses. Energy efficiency retrofits implemented in buildings are the most cost effective way of reducing emissions and improving energy efficiency in the real estate sector.
Funding Your Energy Retrofits
Associated Renewable provides funding to building owners that want to conduct energy retrofits or improvements in their buildings with no upfront capital outlays. Our private retrofit fund offers this funding through an energy services agreement (ESA) or managed energy services agreement (MESA).
With an energy services agreement (ESA), we purchase and install new equipment in the building, with no up-front capital required from you. After the project has been implemented, you continue paying your historical utility bills. The energy savings realized from new equipment will pay the fund for the retrofit itself, which is seen as an operating expense on your balance sheet. Therefore, this off-balance sheet funding does not affect the building's ability to raise debt, if needed.
After the term of the energy services agreement (ESA) ends, you retain 100% of the energy savings, which can be as high as $1 million over a period of 10 years. This method of funding through an ESA has many unique benefits for building owners, including:
What Do Energy Retrofits Involve
Energy retrofits are accomplished within many phases and generally begin with building energy audits during which the building’s utility bills are analyzed to determine energy usage patterns. Retrofitting procedures may involve lighting upgrades to ensure maximum utilization of natural light, replacing or improving HVAC systems, window and door films, implementing renewable energy technologies and optimizing building envelope insulation.
Our Process for Financing Retrofits
Associated Renewable provides comprehensive energy retrofit solutions. After conducting an initial Level 1 walk-through audit of your building, our team of engineers will evaluate your existing property for a minimum 15% in potential energy savings & generate a report. If the required savings potential is achievable, the team will forward the initial report to our Investment Committee for approval. After Committee approval, further steps involve funding your retrofit project with no owner capital required from you. Associated Renewable's retrofit solutions help reduce operating cost through innovative lighting, HVAC and energy system upgrades. Clients can expect to see significant, verifiable benefits as a direct result of our involvement. Contact Associated Renewable to find out more about what energy retrofitting can do for your business.