Though performance-based incentives aren’t necessarily complicated, navigating the process requires certain industry knowledge. At Darrow, we understand the ins and outs of how utility companies operate and interface with third parties. Over the years, we have worked with them intimately, forming connections with those involved. Furthermore, we can contact the utility company for you and help you take advantage of unadvertised programs.
What Are Performance-Based Incentives?
Utility companies often provide financial support in the form of Performance-Based Incentives (PBIs) to customers upgrading to more energy-efficient systems. PBIs differ from regular incentives because they aren’t paid upfront and depend on how well a system performs.
Using a verification process, the utility company can guarantee that certain upgrades will save a specific amount of energy that they will rebate. After installation, the systems are monitored for their actual energy savings, and the rebate you receive is based on the energy savings recorded over the next year.
Rebates are often paid over time in installments. Since payment is directly dependent on how well the system performs, PBIs encourage proper installation, performance, and maintenance. What’s important is that you work with an HVAC company that executes high-quality work and understands the intricacies of the PBI process.
What Is The Process For Acquiring PBIs?
Benefiting from PBIs typically requires little more than active participation. Once contacted, the utility company will send a consultant to survey your property. They’ll walk the building from basement to roof, taking thorough notes on ways to increase energy efficiency.
Examples of how you can upgrade a building include:
After the evaluation, the utility company will present you with the consultant’s findings, along with how much money you can qualify for from both your gas and electric utilities. For instance, a $300,000 project may net you $100,000 in PBIs.
It is worth noting that for larger projects with multiple buildings, each building is addressed separately.
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