It’s no secret that energy costs have become a top expense for many businesses and organizations around the country. Yet, the U.S. ranks ninth out of 12 major economies for energy efficiency, according to a new report released by the American Council for an Energy-Efficient Economy (the ACEEE 2012 International Energy Efficiency Scorecard). The report specifically mentions that the U.S. has made “limited or little progress toward greater efficiency at the national level.”
While this paints a grim picture, it also presents an enormous opportunity for the U.S. to improve its energy efficiency and for businesses and organizations to help keep their operating costs down.
Financing energy efficiency projects is a leading challenge, so it’s no surprise the report specifically recommended that the U.S. improve its financial incentives to spur private investment in energy efficiency. One such incentive is the establishment of the Qualified Energy Conservation Bonds (QECBs), which are expected to provide more than $2 billion in low-cost financing for states and local governments to fund energy efficiency and renewable energy projects. Announced by the U.S. Department of Treasury last month, QECBs are projected to support job growth and private sector investment in commercial and industrial building upgrades and include new tax guidance intended to clarify program standards and explain how states and localities can maximize the potential of the bonds.
Additional incentives include financing vehicles that we’ve discussed previously in our blog such as Energy Savings Performance Contracts and Constellation’s Efficiency Made Easy product.
For more information or questions about how you can finance an energy efficiency project, leave me a comment.