Higher energy bills are the opportunity cost you have been likely paying for not knowing about the opportunity to lower your bills, while in the process increasing your net operating income of 2.4-5.6% and your property value by $5-$11/SF. These were February 2020 numbers from a report by RMI (Rocky Mountain Institute). Due to rising energy prices, these values will likely also rise in the future.
PACE (Property Assessed Clean Energy) is an innovative financing program in 39 states within the US that makes use of private capital to fund energy-saving projects. It’s not a loan but a property tax assessment that sticks with the building even if you sell it; the new owner picks up the payments, which are paid along with the property tax and are spread out up to 25 years so that the PACE payments are lower than your energy bills. This is how you can see increased net operating income every month.
When you choose to get your project developed, you will have three important partners to help you through the process: your project developer, your finance partner, and of course your energy transition partner, TerraNexum. We will check in with you both during and after your project, because there may be other energy and emissions-related practices that can be optimized to help you achieve even greater cost savings and emissions reductions.
There are numerous benefits to working with TerraNexum for your commercial and industrial energy and emissions reduction projects. Here are just a few:
1) Increased Net Operating Income: By reducing your energy bills and carbon emissions, you can see a significant increase in your net operating income. According to a report by RMI, property owners can see an increase of 2.4-5.6% in net operating income, which can result in thousands of dollars in savings each year.
2) Increased Property Value: By implementing energy and emissions reduction projects, you can also increase the value of your property. RMI's report estimated an increase of $5-$11 per square foot in property value, which can have a significant impact on your bottom line.
3) Hassle-Free Financing: With our partnership with PACE and other innovative financing programs, we can help you secure funding for your energy and emissions reduction projects without the need for a traditional loan. PACE financing is a property tax assessment that can be paid over up to 25 years, making it a flexible and affordable financing option.
4) Expert Guidance: We understand energy and emissions reduction deeply, and can provide you with the guidance you need throughout the entire process. From identifying the most impactful projects to finding the right financing options, we are here to ensure your success.
Here are a few examples of how commercial and industrial property owners have achieved their energy and emissions reduction goals through PACE financing, and the results they have seen:
These success stories demonstrate the tangible benefits of working with TerraNexum for your energy and emissions reduction projects. Contact us today to learn more about how we can help you achieve your sustainability goals while also increasing your bottom line.
What is an energy assessment, and how does it benefit my business?
An energy assessment is a process of evaluating a building's energy usage, identifying areas of improvement, and providing recommendations for energy-saving measures. By conducting an energy assessment, you can gain a better understanding of your building's energy usage and identify opportunities to reduce your energy bills, increase your net operating income, and lower your carbon footprint.
What data do you need from me to conduct an energy assessment remotely?
We can conduct an energy assessment remotely using publicly available energy, emissions, and geospatial data about your commercial or industrial property. This data includes information about your building's energy usage, the size and layout of your building, and the local climate and energy market conditions.
How much does an energy assessment cost?
Our initial energy assessments are free of charge. We provide this service to help you identify opportunities to save money on your energy bills and reduce your carbon footprint.
What types of energy-saving measures do you recommend, and how much can I save on my energy bills?
We provide customized energy-saving recommendations based on your building's unique energy usage and needs. Some common measures we recommend include lighting upgrades, HVAC system improvements, and renewable energy installations. The amount you can save on your energy bills will depend on the specific measures implemented and the current energy market conditions in your area.
What financing options are available to help me pay for energy-saving measures?
We can connect you with innovative financing programs such as PACE (Property Assessed Clean Energy) that allow you to pay for energy-saving measures over time through your property tax assessments. This allows you to see increased net operating income every month and achieve your energy and carbon reduction goals without any upfront costs.
How do you ensure the quality of the energy-saving measures implemented in my building?
We work with a network of experienced project developers and energy/carbon marketplace owners who are committed to delivering high-quality, cost-effective energy-saving solutions. We also provide ongoing support and maintenance services to help you optimize your energy and carbon savings over time.
What is energy storage and how does it work?
Energy storage is the process of capturing energy produced at one time for use at a later time. There are several types of energy storage, including batteries, compressed air, and pumped hydro. Batteries work by storing electrical energy chemically and releasing it when needed, while compressed air and pumped hydro work by storing energy mechanically.
What is CCUS and how does it work?
CCUS stands for carbon capture, utilization, and storage. It involves capturing carbon dioxide emissions from industrial processes, utilizing them in other processes, and storing them safely underground. CCUS technologies can help reduce greenhouse gas emissions and mitigate climate change.
What is CDR and how does it work?
CDR stands for carbon dioxide removal. It involves removing carbon dioxide from the atmosphere and storing it safely underground or utilizing it in other processes. CDR technologies can help reduce greenhouse gas concentrations in the atmosphere and mitigate climate change.
Are energy storage, CCUS, and CDR eligible for C-PACE financing?
Currently, only renewable energy, energy storage, and energy efficiency projects are eligible for C-PACE financing. However, there may be opportunities to utilize carbon credits and carbon markets to support CCUS and CDR projects.
How does TerraNexum approach energy assessments?
TerraNexum specializes in providing short pre-assessments for property owners so we can help identify potential projects to save on both energy and emisions. We look for how renewable energy, energy storage, and CCUS/CDR technologies can be applied to achieve the most significant savings on both energy bills and emissions. Once we identify potential projects, we connect property owners with project developers who can develop and implement the projects.
How can I get started with an energy assessment?
Simply contact us to schedule a free energy assessment. We will guide you through the process and connect you with our network of trusted partners to help you achieve your energy and carbon reduction goals.