Free Energy Incentive Dollars During COVID-19? It’s True
COVID-19 is having a massive impact on the construction industry. At this stage, projects can be difficult to complete due to the economic slowdown. Many have even stopped.
Is there still an opportunity to make your office space more energy efficient in this environment? Are there any incentives available that can help us reduce the overall cost of the project and provide a better return on investment (ROI)?
The ComEd® Energy Efficiency Program offers incentive dollars to its customers for exceeding energy code in new construction or replacing old tenant equipment with new or existing buildings. Since 2008, this program has incentivized a reduction of 33 million MWh of electricity, which is equivalent to eliminating approximately 42 billion pounds of carbon emissions from the atmosphere. ComEd is still committed to offer incentives dollars to its customers even amid COVID-19.
Why should one participate?
- Reduce the overall cost of system upgrades
- Better return on investment
- More opportunity for energy savings
An existing building plans to replace 300 pneumatic thermostats with new wireless pneumatic thermostats. ComEd offers $100/thermostat of incentive for installing wireless pneumatic thermostats. Hence, using the ComEd® Energy Efficiency Program, the customer could get:
ComEd Incentive = 300 thermostats x $100/thermostat = $30,000
Similarly, a commercial interior tenant project of 36,000 square feet plans to replace its existing T8 fixtures with new LED fixtures which will allow it to save 17,000 watts. By engaging with ComEd® Energy Efficiency Program, the tenant could get $0.50/watt reduced as an incentive for this replacement. Hence, the customer could get:
ComEd Incentive = 17,000 watts x $0.50/watt reduced = $8,500
It is always advisable to start the incentive application as early as possible. If the project starts the incentive application after the schematic design or design deliverable phases, a reduced incentive dollar amount or becoming ineligible for the incentive program are possibilities. Additionally, the project can be disqualified if the demolition starts before the pre-application is accepted or the equipment doesn’t meet the requirements for the measure.
How can the Energy+Eco group at ESD help you with the incentive application?
Interested to learn more about the ComEd Incentives Program? Feel free to contact Hardik Miyani at firstname.lastname@example.org.