Investing in Energy-Efficient Technologies? Maximize ROI with Rebates

The most fundamental EnergyCAP message and value stream since 1980 has been, “Managers, the first step is to get a handle on your energy use and cost so that you can make wise facility operating and improvement decisions.” Once that energy information step is complete, you’re ready to pursue bottom-line savings through conservation and energy efficiency projects.

Energy efficiency projects come in all shapes and sizes. Maybe you need a new boiler or air conditioner due to a breakdown, or perhaps you’re being proactive and want to upgrade the lighting throughout your entire company. Regardless of your situation, energy-efficient technologies promise potential energy savings for the vast majority of facilities. But the price tags on energy-efficient technologies often raise eyebrows. Is the added efficiency really worth the extra cost? Could you save more money by sticking with less efficient equipment?

Energy-efficient technologies absolutely do save you money in the long run, but there’s no reason to wait that long. In many areas of the U.S. and Canada, government jurisdictions and utility vendors offer rebate and incentive programs that deliver substantial payouts to companies that make energy-efficient decisions.

Incentives and Rebates Make Energy-Efficiency a No-Brainer

So, why do rebate and incentive programs exist in the first place?

These programs are designed to help meet future energy and carbon reduction targets by lowering the dependency on electric and natural gas infrastructure and supply. Additionally, most of these programs are utility vendor ratepayer-funded through residential and commercial surcharges.

If there’s an incentive or rebate available for a project your company is going to complete, why wouldn’t you take advantage of it? Not only will it eliminate the extra cost of energy efficiency in the short term, but it also ensures you’ll save on utility bills in the years to come.

Companies See Substantial Payouts from Rebates

No two rebate or incentive programs are the same, but they typically offer considerable payouts to companies that make energy-efficient investments. Here’s a general idea of what you can expect to get back:

• 10–20% of the cost of any energy-efficient equipment you invest in
• Up to 50% of the total installed project

The goal of these incentive and rebate programs is to help the projects move forward, and the best way to accomplish that is by making it worth it for building owners. These rebates are significant enough to pay for the added cost of energy-efficient technologies and to cover part of the cost of your entire project.

Is My Project Eligible for Energy-Related Rebates?

Any utility ratepayers located in rebate-friendly jurisdictions throughout the United States and Canada should be eligible for these programs. According to the Consortium for Energy Efficiency (CEE), budgets for these programs was in excess of $10 billion in 2020. So, these rebate and incentive programs are quite common.

It’s important to remember that, even in rebate-friendly jurisdictions, there’s no guarantee that every utility offers a program. The vast majority do offer some level of rebate or incentive for energy-efficient projects.

Which Energy-Efficiency Projects Are Eligible for Incentives?

While it could vary from jurisdiction to jurisdiction, most programs accept the same types projects. New construction projects that include energy-efficient technologies, energy-efficient replacements, and retrofit projects are all typically eligible.

There is no universal list of the types of technologies or equipment that these programs accept. Generally accepted projects include:

Make Sure to Plan Ahead

As useful as these rebate and incentive programs are, they require advance planning for two reasons:

1. Budgets Run Out: There might be plenty of rebate and incentive money up for grabs, but it can be eaten up fairly quickly each year. It’s best to enter Q1 with a plan in place for your energy-efficient project, or to have it finalized in Q4 of the previous year.
2. Incentives Needs To Be Approved Beforehand: Rebates may come after a purchase, but incentives come beforehand. Don’t wait to complete a project only to learn you missed out on some incentives. Having a plan ahead of time ensures you can maximize the incentive and rebate dollars you qualify for.

Don’t Miss Out! The No-Risk Way to Secure Rebates and Incentives

If you’re overseeing a small project or you work for a smaller company, finding and cashing in on these rebates might not be too difficult. The larger the project and the more jurisdictions your company is located in, the more difficult it can be to secure these rebates and incentives.

Multiple jurisdictions mean multiple rebate programs to work with, all of which might operate differently. As beneficial as these rebate and incentive programs are, securing the rebates and incentives can be complex and time intensive.

Efficiency is the name of the game, so why waste time navigating this messy, cumbersome, red-taped process on your own? EnergyCAP’s business partner at Bill Identity, also known as b.id, can do the heavy lifting for you when it comes to securing rebates and incentives.

Trust b.id to maximize your return on investment by working with you on early-stage budget consulting, project scheduling, pre-approval confirmations, rebate and incentive negotiations, and more. If you want to make the best use of your capital and operating dollars, b.id’s ability to capture rebates and incentives is the most effective way to do so.

Best of all, b.id is a success-based company. If they fail to secure any rebates or incentives for your energy-efficiency project, you pay nothing.