More than ever, property owners are exploring energy-efficiency improvements for not only lowering long-term impact on the environment, but also reducing their operating and maintenance expenses. It’s a good time to consider options — the Sustainable Columbus initiative adopted a Climate Action Plan that hopes to lower emissions 45% by 2030 and reach carbon neutrality by 2050.
While the upfront capital outlay for efficiency upgrades can be prohibitive, there are several programs to help offset the expense for building owners in Ohio. Here’s a closer look at those available from our partners at the Ohio Department of Development and Columbia Gas, as well as a program of our own.
The Ohio Department of Development
Energy Efficiency Program
These energy efficiency audits identify ways to reduce energy use and improve efficiency. Consultants outline the steps in the process and help you determine the most efficient and cost-effective measures for your facility. Application for the program is required.
Small businesses, manufacturers, nonprofits, and local governments may apply for an Energy Loan that provides low-interest financing for installation of efficiency measures that reduce energy by at least 15%. Loan amounts vary depending on the project and can be from $250,000 up to $2.5 million.
Columbia Gas / CLEAResult
A per ccf energy savings program for qualifying commercial property owners making energy efficiency improvements to existing buildings. Up to $35,000 per year.
Rebates for qualifying energy efficient small building construction.
Columbus-Franklin County Finance Authority
Our own Property Assessed Clean Energy (PACE) program provides financing for proposed energy-efficiency improvements. Up to 100% of qualifying energy conservation measures, including on-site renewable installations, may be financed with little to no up-front capital outlay by the borrower. The loan is repaid via special assessments placed on the property. Currently, loans under $1.5 million for qualifying commercial property owners may secure a 4.5% interest rate. The loan term is based on the weighted useful life of the energy conservation measures undertaken. Call or email today to lock in this rate!