Zero Interest Funds Available for Energy Efficiency
Yolo Energy Watch News Release
Yolo Energy Watch wants to make local businesses aware of an excellent vehicle for funding energy efficiency projects. “On Bill Finance” (OBF) is a PG&E program offered specifically to businesses that can reduce or eliminate the upfront cost of installing energy efficiency measures.
Under this program, eligible projects may be financed at 0% interest. The “loan” is paid back through the customer’s PG&E bill: with the reduced energy savings at least offsetting the loan repayment cost. Once the loan is paid off, the savings are all yours.
To qualify, the project cost must be between $5,000 – $100,000, with a term of 60 months and, to be sure that the customer saves more in energy than he or she is paying on the loan, the project must pay for itself in the time allotted.
This means that if a project costs $10,000, it must result in savings on your monthly energy bill that add up to at least $10,000 within the maximum term of 60 months. Also, the financing can only be applied to a single customer account, which means a single meter.
For more details about this program go to: http://www.pge.com/mybusiness/energysavingsrebates/rebatesincentives/taxcredit/onbillfinancing/