takeCHARGE Business Efficiency Program
Highlights
This program is designed specifically for businesses like yours. It offers rebates on energy-efficient upgrades to your heating, cooling, refrigeration, lighting, and more. By participating, you can significantly reduce your electricity use, which will help your bottom line every month. Plus, your employees and customers will enjoy the comfort of better lighting and improved heating or cooling systems.
What You Get:
- Average rebate of $5,000 and up to $50,000 for eligible projects
- Fully funded energy assessment of your commercial facility
- Prioritized list of recommended projects to reduce energy use
- Funding support for energy audits and feasibility studies
This program is easier to qualify for than you might think. The initial energy assessment is fully funded, and the takeCHARGE team will guide you through each step. By being approved, you can start saving on energy costs immediately and improve the overall efficiency of your business.
Financing Details
Type of Financing: Rebate
Eligible Expenses:
- Upgrades to heating and cooling systems
- Refrigeration improvements
- Lighting enhancements
- Energy-efficient equipment installations
Use of Funds:
- Funds can be used to cover costs associated with energy-efficient improvements.
- Rebates are calculated based on $0.10/kWh of first-year energy savings.
- Maximum rebate amount is $50,000.
Ineligible Expenses:
- Funds cannot be used for non-energy-efficient upgrades.
- Routine maintenance costs are not covered.
Fees:
- No application fees.
- No document preparation fees.
- No renewal fees.
Repayment Terms:
- Not applicable, as this is a rebate program.
Qualifications
- Must be a commercial customer of Newfoundland and Labrador Hydro.
- Must be located in an isolated system within Newfoundland and Labrador.
- Must be willing to undergo an energy assessment by a takeCHARGE energy expert.
- Must complete a project proposal form provided by takeCHARGE.
- Must sign a project development agreement if the proposal is approved.
- Must implement energy efficiency upgrades as outlined in the project development agreement.
Must ensure the project stays in service and delivers energy savings for a minimum of five years.
Disqualifications:
- Businesses not located in an isolated system within Newfoundland and Labrador.
- Businesses that do not complete the required project proposal form.
- Businesses that do not sign the project development agreement.
- Projects that do not achieve at least 85% of the estimated energy savings as outlined in the project proposal.
Description
This program offers your business a chance to save big on energy costs. You can get rebates ranging from $5,000 to $50,000 to help cover the costs of energy-efficient upgrades. The rebate amount is based on your first-year energy savings, with $0.10 per kWh saved.
You can use this money for various improvements like upgrading your heating and cooling systems, refrigeration, lighting, and more. These upgrades not only reduce your electricity use but also lower your maintenance costs. Better lighting and improved heating or cooling systems make your workplace more comfortable for both employees and customers.
The payback period for these upgrades varies, but the energy savings start immediately. For example, some businesses have seen payback periods as short as 4.1 years. This means that after a few years, the savings on your energy bill will have paid for the cost of the upgrades, and you'll continue to save money every month after that.
Program Steps
Schedule an Energy Assessment:
- Contact takeCHARGE to schedule an energy assessment of your commercial facility. This assessment is fully funded by takeCHARGE.
Receive and Review Recommendations:
- After the energy assessment, you will receive a prioritized list of recommended projects to reduce your energy use. Review these recommendations to determine which projects you want to pursue.
Prepare Documentation:
- Gather the necessary documentation to support your application. This includes:
- Financial statements
- Business plan
- Details of intended energy efficiency projects
- Quotes for equipment or renovation costs
- Gather the necessary documentation to support your application. This includes:
Complete Project Proposal Form:
- Fill out the project proposal form provided by your takeCHARGE contact. This form captures the details of your project.
Submit Project Proposal:
- Return the completed project proposal form to takeCHARGE for review.
Sign Project Development Agreement:
- If your proposal is approved, you will receive a project development agreement. This agreement outlines project deliverables, expected energy savings, incentives, and obligations. Sign and return the agreement to your takeCHARGE contact.
Implement Energy Efficiency Upgrades:
- Start your energy efficiency upgrade as outlined in the project development agreement.
Project Close-Out, Measurement, and Verification:
- After completing the project, takeCHARGE will conduct measurement and verification to quantify energy savings and determine the final value of incentives. If energy savings are less than 85% of the estimate, there will be reductions to the incentive.
Receive Final Incentive Payment:
- Once savings are measured and verified, final incentives will be paid. Ensure the project stays in service and delivers energy savings for a minimum of five years.