PECO, formerly known as the Philadelphia Electric Company, recently released their new financial incentive programs, which includes large incentive rate increases. PECO offers dozens of incentives on energy efficiency upgrades for businesses, including lighting, motors and drives, and heating, ventilation, and air conditioning or HVAC equipment. If you’re a commercial PECO customer, read on to find out what PECO rebates are available for you and how much you can save!
What is the Philadelphia Electric Company (PECO)?
PECO is a major electric and gas utility company located in Pennsylvania. As the largest electric and natural gas utility in Pennsylvania, PECO provides electricity to approximately 1.6 million customers. The company also provides natural gas to more than 511,000 customers. PECO serves customers in Bucks, Chester, Delaware, Lancaster, Montgomery, Philadelphia, and York counties.
PECO offers a wide variety of incentives on energy efficient equipment for businesses. The list is robust and includes:
According to PECO’s website popular energy-efficient solutions include:
PECO’s updates for 2021 includes large incentive increases on most of their rebate rates. PECO’s lighting rebate program offers the most robust incentives. The following table shows the amount in increases for lighting, as well as Variable Frequency Drives (VFDs):
Philadelphia incentive programs are regulated by the Pennsylvania Public Utility Commission, which requires utilities to roll out incentive programs in five year blocks.
The new program started this in June 2021 and is scheduled to run until June 2026.
How do PECO rebates work?
The rebates that PECO offers are applied to energy efficient upgrades in commercial or industrial facilities. If you purchase or install eligible energy efficient equipment that meets the required criteria, PECO will give you a rebate.
In order to qualify for a rebate, you must fill out a rebate application and show the technology you’ve upgraded with meets certain criteria.
Working with a trusted energy efficiency company to get energy-saving technology at your facility is the best way to handle your energy efficiency upgrades.
This ensures you upgrade with technology that will save you the most money and decrease your energy consumption. You also won’t have to deal with the incentives paperwork and application process. You’ll receive the highest incentive available to you without having to deal with the confusion and headaches that can come with the process.