Power companies, local, state, and federal governments offer incentives for businesses to make the switch to energy-efficient equipment, tools, machines, and materials. The incentives come in many forms, but have a general theme: The more energy-efficient a business becomes, the greater the amount of money that business can save and recoup through incentives.
When a business upgrades its outdated equipment, the benefits far extend beyond energy savings and increased energy efficiency. Businesses can save even more money through energy rebates. A company can take advantage of a rebate program by implementing an energy efficiency upgrade at a facility. Once the program requirements are met, a portion of the project expenses is reimbursed through what is known as an incentive or rebate.
Rebates are offered through a local utility company. Utility providers have different requirements depending on what type of upgrade it is. Every rebate program is different in the type of requirements that must be met, the type of paperwork needed, deadlines, and the entire process itself. Sometimes applying for rebates can be confusing and frustrating if a business is unfamiliar with how it works.
Rocky Mountain Power offers rebates through several different programs. Rocky Mountain Power rebates are available in three states – Idaho, Wyoming, Utah. Incentives for commercial business upgrades in the three states cover many different types of technology. Here is a list of some of the most common ones:
Lighting and Controls: Commercial lighting incentives are based on an amount per watt-reduced basis. Rocky Mountain Power offers instant incentives that cover up to 70 percent of the cost of qualifying LED lighting. The utility will also give businesses cash incentives for lighting retrofits. LED Lighting upgrades have the most robust offerings of all available incentives through the utility.
HVAC: An outdated heating, ventilation, and air conditioning (HVAC) system can cost a business tens of thousands of dollars. An old, inefficient HVAC system not only adds more dollar signs to a businesses’ electricity bill, but it can also create an uncomfortable environment for employees and cause them to be less productive. Rocky Mountain Power offers cash incentives for most HVAC upgrades.
Motors and Drives: Rocky Mountain Power offers cash incentives for businesses that upgrade to HVAC variable frequency drives (VFDs), electronically commutated motors (ECM), and green motor rewinds. For ECMs with less than 1 horsepower, they offer $1 per watt for refrigeration and $50 per horsepower for HVAC. For VFDs with less than 100 horsepower, they offer $65 per horsepower. For green motor rewinds with more than 15, but less than 5,000 horsepower, they offer $1 per horsepower.
Electric Vehicle: Utah offers cash incentives to businesses that install electric vehicle charging stations on their property.
Solar Incentives: Utah offers up to a $50,000 tax credit for rooftop solar photovoltaic (PV) installations.
Custom Projects: For custom projects, Rocky Mountain Power offers $0.15 per annual kWh saved.
Each state that Rocky Mountain Power serves has a different slate of potential energy upgrades. Most energy efficiency upgrades are the same, but there are a few that vary from state to state, have different requirements or fulfillment thresholds, or different standards for attaining energy efficiency.
In addition, Rocky Mountain Power may change the scope or details of any particular rebate, cash incentive, or rate savings as is necessary.
Incentives are just one of the many benefits of a technology overhaul. Here are some of the other reasons why businesses upgrade their old equipment:
New Equipment: New equipment generally will allow a business to work more efficiently and effectively. Newer equipment tends to use less energy than older equipment and has features that weren’t available when the outdated equipment was first produced, such as smart capabilities.
For example, smart capabilities are available in power monitoring devices, which puts the power into a business owner, facility manager, or other key player’s hands. With power monitoring, an individual can remotely control equipment or receive notifications on the power consumption or failures of equipment within a facility.
Less Expensive Power Bills: For a large company, the monthly power usage translates into a significant investment. That investment can skyrocket during an energy crisis, such as during peak heating or cooling periods. One bad season and the energy budget for many small businesses can be exceeded significantly.
With energy efficiency upgrades, the electric bill will be smaller than without them, sometimes with significant savings. The more equipment a business upgrades, the more savings they will see.
Indirect Savings: While getting some cashback is great and new equipment generally works better than older equipment, there are some savings that are related to upgrading, but not directly associated with doing so. One way is through collective energy efficiency that will lead to less energy costs in general as less energy is required to power the business.
Increased Productivity: Updated equipment often creates a more favorable environment for employees. For example, when businesses update to LED lighting they are sometimes surprised to find their employees are happier and more productive. LED lights can also eliminate dark spots leading to a safer working environment for employees and increased quality control.
Energy waste is a major concern for businesses and the environment. Rocky Mountain Power rebates help provide encouragement for businesses to switch and see immediate savings as well as reduce their carbon footprint.
As previously mentioned, the incentive process can be complicated at times. WattLogic is a dedicated team of energy solutions experts that have the know-how and experience to take care of the incentives application process for you so you don’t have to. In fact, we have a whole team of specialists dedicated to incentives.
At the same time, we offer turnkey packages in lighting, power monitoring, solar and energy storage, air quality and ventilation, and motors and drives spaces. We want to help you find the perfect solutions for your facility so you can upgrade inefficient, outdated technology. We will take care of everything for you so you can focus on other pressing issues at your facility. Reach out to us at (800) 834-8737 to get your audit started or contact us online!