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Without a doubt about Elevate Energy we we Blog

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Without a doubt about Elevate Energy we we Blog

Just how to Optimize On-Bill Financing to greatly help Illinois Building Owners spend money on Energy savings

This post is written by Marcella Bondie Keenan, policy other at Elevate Energy.

Building owners can save yourself cash by buying energy savings improvements. But they continue to pay higher energy bills and are even less able to pay for energy efficiency improvements down the road if they can’t afford the upfront costs of the upgrades.

On-bill funding (OBF) is the one device to simply help owners bust out of the period. It offers a way to spend money on car title loans energy effectiveness through that loan this is certainly paid back as a month-to-month installment on bills. But, present Illinois OBF programs exclude numerous utility clients due to limitations on loan size, building types, and effectiveness improvements, along with slim definitions of credit history. In this article, we identify a few possibilities to produce more efficient financing that is on-bill in purchase to greatly help more building owners spend money on energy savings.

Problem: Too Minimal Funding

By legislation, OBF programs in Illinois are capped at $2.5 million per energy. This money cap is simply too low to fulfill client need. In reality, two resources already reached the cap and petitioned for an increased limit to be able to accept more loans. Whilst the utilities waited for approval, their OBF programs had been placed on hold. Read More

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