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Retrofit Funding

Overview

 

Associated Renewable provides funding for energy retrofit measures in all types of buildings such as commercial facilities, multi-family residential housing, industrial facilities, offices, universities, hospitals and other large energy-users. Retrofit measures include upgrading efficient lighting, boilers, chillers and HVAC systems,

 

Retrofit Funding with Zero Up-front Capital

 

Associated Renewable operates a private retrofit fund through which we provide funding for upgrading or replacing old energy systems in buildings. The funding is available to building owners and managers who want to improve energy efficiency and reduce operating costs without the burden of laying out any of their own capital up-front. Through an energy services agreement (ESA), Associated Renewable funds the retrofit with zero upfront costs for the building owner. In return, we will use a portion of the energy savings to pay for the equipment, while building owners continue to pay the same amount or slightly less than historical monthly utility costs.

 

Why Use an Energy Services Agreement (ESA) for Retrofit Funding

 

The energy services agreement (ESA) model allows building owners to obtain funding for new energy equipment without any up-front capital outlays, while paying for it over time through energy savings realized. Other main benefits to building owners include having:

  • no debt or liabilities added (not a loan or lease)
  • off-balance sheet funding  (treated as operating expense, not capital expenditure/‘Capex’)
  • transferability of ownership (if building is sold during term of ESA)
  • immediate reduction in utility costs post-implementation
  • project performance guarantee (energy savings are insured)

 

Our Process for Retrofit Funding

 

The first step involves conducting an energy audit of the building to determine all applicable energy conservation measures and evaluate the percentage of energy savings attainable.  Next, if the audit report estimates a minimum of 15% in energy savings can be attained, the retrofit is funded and the cost of the energy audit is reimbursed through Associated Renewable’s fund.

To learn more about having your building’s retrofit funded at no up-front cost, please contact our Finance team at (212) 444-8215 or email finance@associatedrenewable.com

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Tuesday, February 14, 2017 - 13:01

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