CARMEL, Calif., Aug. 26, 2021 /PRNewswire/ — IoEnergy Solutions proudly announces the creation of its new PG&E On-Bill Finance division, dedicated to helping Bay Area businesses take advantage of utility-sponsored, zero out-of-pocket lighting efficiency upgrade opportunities. IoEnergy provides start-to-finish on-site project identification, utility application management, and retrofit implementation for buildings 50K square feet and larger.
On-bill financing gives commercial building owners the opportunity to retrofit the lighting in their buildings with ultra-efficient LED luminaries and tech-forward sensors and controls. The projects are financed through the energy cost savings associated with the upgrade. After the loan is repaid, the cost savings are delivered to the customer in the form of a lower utility bill in perpetuity. For upgrades on large commercial facilities, these savings, combined with lowered maintenance costs over time, can amount to hundreds of thousands of dollars per year.
«This is a great program that not enough businesses are utilizing,» said IoEnergy CEO Danny Krueger. «We just completed an upgrade at a Weaver Lumber location in Anderson, California that is saving more than $97,000 per year in energy costs. This upgrade is also helping them pocket almost $10,000 annually in saved maintenance costs and almost $5,000 in annual HVAC savings.»
The financing is repaid on the building owners’ utility bill using the cost savings associated with the project, and after the loan is repaid, the building owners are free to use the on-going savings in any way they choose. The program allows for a zero out-of-pocket building modernization strategy that can be implemented across multiple improvements over time.
IoEnergy are PG&E Trade Pro-Alliance Members with decades of experience in the California energy market. As LED lighting efficiency and utility on-bill financing experts, they can help bay area businesses reap the benefits of this program, while also helping California meet its energy efficiency goals.
For more information about IoEnergy Solutions, please visit www.ioenergyinc.com.
About IoEnergy Solutions: IoEnergy is a construction and consulting firm specializing in the large-scale implementation of building intelligence and energy efficiency systems. We deliver high-ROI building efficiency projects beginning with comprehensive commercial LED lighting and sensor upgrades that modernize building systems and help businesses reap the benefits of IoT tech, without excessive out-of-pocket expenditures. For more information, visit www.ioenergyinc.com/.
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SOURCE IoEnergy Solutions