Director, Southern California Regional Sales
CaliforniaFIRST (Administered by Renew Financial)
I will describe the energy challenges that will cripple many American property owners; explain solutions and varying advantages; discuss a solution to what is frequently the biggest deal killer: Financing
Even if the new administration loosens the reigns on coal and other fossil fuels, the cost of energy is going to continue to go up for several reasons. One example: The US electrical infrastructure was called a ‘Modern Marvel’ in the 1950’s, but on December 2nd, 2011, the residents of Temple City, CA were made keenly aware that those days are past as 211 wooden utility poles were snapped by windstorms. Multiple forest fires have been caused by downed power lines costing millions of dollars in damage and putting thousands of lives at risk. Considering the millions upon millions of connecting points in the California utility grid alone, it’s not hard to imagine how expensive it will cost to affect these infrastructure upgrades.
Three key actions that every Property Owners can take to attain control and predictability of their energy costs are:
-Reduce their total needs by becoming more energy efficient
-Produce their own renewable energy from a source like solar
-Protect themselves from Demand charges, which are a nebulous way that utilities charge for electricity
Energy Upgrades can be very costly and can be seen as a “Nice to have” – not a “Need to have”. Finance options will be discussed and contrasted based on savings, safety, flexibility, speed to closing, and eligibility requirements. PACE financing is a new and savvy tool that enables Property Owner’s to bundle energy cost defense into a single transaction and attain attractive cash flow advantages without using valuable credit or cash resources.
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