Making the switch to a more sustainable building isn’t just good for the environment –it’s good for your wallet as well. In addition to federal tax incentive plans, including a 30% tax credit available for the installation of photovoltaic solar panels, the DC-Maryland-Virginia area contains a multitude of incentives, rebates, and financing options to help make your energy efficiency project as lucrative as possible. Most local utilities including Pepco, Delmarva Power, BGE, Potomac Edison, and Dominion Energy offer energy efficiency retrofit rebates with additional funding available through programs like EmPOWER Maryland and the District of Columbia Sustainable Energy Utility (DCSEU). Taking advantage of these programs can reduce your retrofit materials costs by as much as 75%. Still not convinced? Guaranteed financing options for energy efficiency projects such as those offered by the Montgomery County Green Bank can reduce your out of pocket costs to $0 while the cost of the loan is paid back through your energy savings. Innovation Energy’s rebate specialists take all the work out of applying for the programs while you enjoy the savings. It’s a win-win for the environment and your bottom line.
Some Available Programs
Recently renewed by the Maryland legislature, the EmPOWER Maryland initiative seeks to reduce the state’s energy use by at least 15%. In addition to encouraging residents to adopt energy saving measures for their homes, EmPOWER Maryland has combined with Maryland’s five primary utilities to offer a full suite of rebate programs for businesses pursuing energy efficiency upgrades. Incentives include programs for commercial lighting, energy efficiency services, and lighting control systems and combines available savings from Pepco, Delmarva, BGE, and other Maryland utilities.
The District of Columbia Sustainable Energy Utility (DCSEU) helps District residents, businesses, and institutions save energy and money through energy efficiency and renewable energy programs. Led by the Sustainable Energy Partnership and under contract to the Department of Energy & Environment (DOEE), the DCSEU is committed to environmental preservation, community engagement, and economic development. With rebates available for lighting retrofits, variable frequency drive (VFD) installation, and numerous other electric and gas measures, the DCSEU has something to help make your energy efficiency retrofit as economical as possible.
Montgomery County Green Bank (MCGB) provides affordable, low upfront cost financing options for clean energy and energy efficiency upgrades for residents and businesses so that you can enjoy the money-saving and comfort-enhancing benefits from these improvements. MCGB uses their capital in conjunction with lenders and investors in the community to craft new-to-market affordable, flexible financing options that align with the cost savings realized throughout the life of the energy beneficial measures installed with the repayments on the financing used to pay for these measures.
What does that mean?
It means that MCGB will use their capital to guarantee loans from partner lenders, providing you with the best rates in the industry and a payback plan catered to match with your energy savings, meaning that your project will be paid for through your savings with little to no upfront cost. Once the loan is paid off, the full savings are yours to enjoy for the life of the project. View Brochure