Did You Know There Is Cash Sitting There Waiting For You?
So many people really think that energy efficiency is a scam. It is ironic in "web based" world that the impression would still be intact.
We have talked to business owners who told us they were interested, but they thought the Government was involved and it just "makes me so mad I won't do it". Those are the folks who really miss out. Energy efficient technology has really improved over the past 5 years.
Combining annual savings, utility incentives, tax deductions, maintenance savings and increases in productivity can make a very compelling case for an energy efficient upgrade.....even if you don't think you NEED one!
Not all of the projects that we look at make sense for the owner...but how do you know until you investigate?
Let's Take A Look At Utility Incentives...
One of the easiest ways to investigate if energy efficiency savings is a real deal, just check out your electric utility website. See if there is any mention there about energy efficient lighting, motors, home improvements...the list goes on and on.
Taking advantage of incentives is one of the easiest ways to reduce the time of payback on any project you might consider investing in. But it isn't always a perfect world, so let's see what some of the problems are related to Utility Incentives.
The Problem With Utility Incentives
When the program runs out of money, it's gone. So if you have been planning a project for 6 months or so dependent on the incentives, you might find very quickly that your plans are dashed.
It is no fun sitting there knowing you are spending $2,000 per month more than you should be and the decision to wait is going to cost you another $12,000 to wait until the programs are available again.
Each utility is different, but we have seen advanced notice that the programs were running out of money and we have gotten notice AFTER the program had run out of money. In 2010, the Consumers Energy program ran out of funds in June and in 2011, they ran out in August.
So if you are planning a project and wait it out, you will be stuck until the new program begins in the new year. People are taking advantage of these programs, so you don't want to wait.
They are there for the taking, but they will not just write a check for doing nothing.
Eligibility Can Be Tricky To Figure Out
We work in energy efficiency every day and see new programs all the time. Even though we have a strong understanding of how electricity works and what you need to do to reduce consumption, we still often are left scratching our heads.
Learning a new program can take anywhere from an hour to several weeks to fully understand. You have to do your research, that's for sure.
The best way to know if your eligible for a utility incentive is to do the research on what is available and who is eligible by researching the programs. Some are basic an easy while others require a PhD to figure it out.
Here is a list of available Financial Incentives By State. This is the best place to start.
Alphabetical State Listing For Available Financial Incentives:
So, Should I....or..Shouldn't I?
Never turn away Free cash, like a Free lunch, it doesn't come by often. Just be sure investigate those incentives available and don't sit around and wait. Waiting too long can cost you a great deal of money! Check on your State, see what is available and let us know if we can help you out.
Oh....And Don't Forget Our Webinar On February 21st, 2012....
We are going to cover a lot more about utility incentives as well as the other benefits of energy efficient programs across the country. The utility incentives are one part, but you also have Energy Policy Act 2005, annual savings, maintenance savings and the potential for increased productivity.
It's Worth A Look....
Would you take advantage of your utilities incentives if they were available?
Have you been able to claim any utility incentives? If so, how much?
Comment in the comments section below.