Reducing the amount of energy your business uses throughout the day not only benefits you, but also the utility providers. The more energy efficient organizations are, the lower the energy demand is at peak times of the day. As a result, there’s less of a need to add additional capacity through expensive construction. So, to encourage more companies to improve their energy efficiency, there are incentive and rebate programs that help fund energy efficiency projects.
How To Access Financing for Energy Efficiency Projects
Did you know that utility incentive programs pay out large sums of money to enhance energy management? More than $3.6 billion is made available annually for rebates and incentives according to the U.S. Department of Energy. This money is spread across nearly 900 different programs. While that may sound impressive, what’s more impressive is it actually doesn’t even scratch the surface of all the funding available in these programs.
You would think this money would dry up almost instantly as businesses race to implement energy efficient solutions. In reality, many of these programs struggle to meet their funding goals. There just aren’t enough efficiency projects for these programs to pay out the entire amount they’re allocated for the year. Rather than let this money sit in a corner untouched, you could be using this funding to upgrade your own facility.
The Difficulty of Accessing Funding
Although there are some businesses that may not be aware these incentives exist, there are many more that are. So why does it seem like hardly anyone is taking advantage of these programs? The answer is the process of securing this funding can be a bit tedious.
As a business owner, you have a lot on your plate and deadlines to meet. You don’t have the time to be endlessly scrolling through multiple websites, reading processes, and combing through industry-specific documentation. On top of that, energy rebate programs by state can differ, so you have to pay attention to state requirements. Finally, there’s the dreaded mountain of paperwork that has to be filled out. If there are any mistakes, your application may not be accepted.
The Problem With Online Resources
Let’s say time is no issue and you’re able to find all the applicable programs for your projects. Do you know if the sources you used are still relevant today? The problem with obtaining this information online is it can be outdated and you would be none the wiser. It’s not uncommon for websites to lag behind the initiatives they’re advertising.
Another issue with relying on online resources is the delay. You could find out about a rebate that applies to your project, only to find that the program’s budget is already filled. Don’t forget that you’re not the only one looking for incentives. There are plenty of other companies that are also vying for funding.
What’s the Solution?
Knowing everything that’s in your way, it can seem pointless to even try claiming any of this funding. Fortunately, there are ways you can get around all of these troublesome hurdles. One path you can take is by getting in touch with your local representatives.
When all is said and done, these federal initiatives were created with the purpose of encouraging businesses to lower their carbon emissions and energy usage. Your representatives are the people who pushed for these programs. They want companies like yours to make full use of these programs. As such, your local representatives should be able to help you in this process.
How Air Power USA Helps
A second path you can take toward accessing financial incentives is by working with Air Power USA. We take the burden out of the process by doing the legwork for you. Our incentive consultants identify rebates that match your projects, verify your eligibility, and maximize the output of the program. This way you can cover as much of the costs as possible.
Take Advantage of Energy Efficient Incentives
For years, Air Power USA’s incentive consultants have helped companies in the industrial sector access energy efficiency incentives. Our team makes the process of obtaining funding simple, fueling new opportunities for improvements and efficiency upgrades.
Contact us today to learn more about this topic and how we can help.