June 2, 2020
The COVID-19 pandemic is having wide-reaching, uncertain, and potentially long-lasting economic impacts. This is a double-edged sword for energy efficiency. On one hand, energy efficiency projects are a great tool for businesses looking to reduce costs without compromising on their services. However, energy efficiency projects often require a level of financial investment that may be difficult to justify given the aforementioned uncertainty. Enter On-Bill Financing, or OBF. Over 110 utilities throughout the United States have OBF programs, including most major California utilities. OBF programs offer low or 0% interest loans to utility customers for the implementation of energy efficiency projects. Once the project is installed, the loan is repaid as part of the customer’s utility bill. Loan payments are structured based on the estimated energy savings of the project, with the goal of keeping the customer’s total bill the same, or even reducing it with the loan payment included.
If you are interested in using On-Bill Financing to implement an energy efficiency project, ERI can help. Our experienced team of energy professionals has extensive experience developing energy efficiency projects, and are ready to help you with your OBF project. For more information on ERI’s OBF project development services, email firstname.lastname@example.org, or call (415) 500-2654. For more information on California Utility OBF programs, see the links below.
- Pacific Gas & Electric: https://www.pge.com/en_US/small-medium-business/save-energy-and-money/energy-efficiency-financing.page
- Southern California Edison: https://www.sce.com/business/tools/on-bill-financing
- Southern California Gas: https://www.socalgas.com/for-your-business/energy-savings/zero-percent-financing
- San Diego Gas & Electric: https://www.sdge.com/0-interest-loans-qualifying-businesses