Business Renewable Energy
Why Renewable Energy
The Town of Erie’s Sustainability Plan set an ambitious goal of sourcing 25% of commercial electricity use from renewable sources by 2025, above and beyond what is already included in the utilities’ fuel mix. Renewable energy has a variety of benefits for your business, including:
- Cost Savings: On-site energy generation, like rooftop solar, allows businesses to save money on energy bills, which in turn increases property values, while also providing a high return on investment.
- Marketing Benefits: By investing in renewable energy, you demonstrate that your business prioritizes sustainability. This can be appealing to customers and clients. Plus, it can help you on your path to become a certified Erie Green Business!
- Become a Leader: Renewables are becoming increasingly common and affordable. By being an early adopter of renewables, you’ll show that you are a leader and innovator in the business community.
- Resiliency: By pairing onsite renewables with battery storage, your business is better prepared for unexpected events, increasing overall resilience.
Consider Energy Efficiency First
One of the best ways to lower the upfront cost of renewable energy is to reduce the total energy you consume. This allows you to invest in a smaller solar array or cover more of your total energy with the renewable energy you produce. Additionally, efficiency can help you lower monthly maintenance costs, increase comfort for you and your customers, and save energy and in turn, money. Check out the energy-saving programs and rebates that Xcel Energy or United Power offer! Is your business in Boulder County? Boulder County Partners for a Clean Environment (PACE) can help you navigate additional energy efficiency rebates.
Select the Renewable Energy Program That’s Right for Your Business
Renewable energy options are based on your electric utility provider and your preference for either onsite or subscription-based renewable energy. Use this interactive map to confirm your electricity provider.
Onsite options may be right for you if you own the facility your business operates in or if you are looking to invest in equipment that you will own or lease.
Subscription options may be right for you if you cannot or are not interested in installing onsite renewable energy or if do not own your facility, but still want to power your business with renewables.
|Xcel Energy||Onsite||Net-Metering||Offset your energy use by selling back the excess electricity generated from your solar system|
|United Power||Onsite||Net-Metering||Offset your energy use by selling back the excess electricity generated from your solar system|
|Xcel Energy||Onsite||Solar*Rewards®||Receive an additional $0.005/kWh - .0375/kWh produced. |
Note: enrolling in Solar*Rewards gives your renewable energy credits back to the utility and the renewable electricity you produce will not count toward Erie’s sustainability plan goals.
|Xcel Energy||Subscription||Windsource®||Power your business with wind energy for an additional cost of $0.015/kWh|
|United Power||Subscription||Green Power Partners||Power your business with renewable energy for an additional cost of $0.09/kWh|
Financial opportunities to lower the cost of rooftop solar
Some financial opportunities are dependent on the county you live in. Use this interactive map to confirm your county.
|Federal Tax Credit ||All businesses – talk with your tax advisor for more details ||The solar investment tax credit (ITC) is 26% through 2022.|
|Boulder County rebate||Boulder County businesses ||Boulder County businesses can receive 50% of project costs, up to $15,000, after utility incentives are applied. Eligible nonprofits may combine incentives up to 70% of the total project costs, up to $40,000. Awards are based on system capacity.|
|Property Assessed Clean Energy (C-PACE)||Boulder County businesses ||Allows for long-term financing of energy efficiency, renewable energy, and water conservation eligible improvements through a special tax assessment that stays with the property if it is sold. Up to 100% of the improvements can be financed, resulting in no out-of-pocket expenses and immediate positive flow.|
|HBC Energy Capital ||Xcel Energy business customers||HBC Energy Capital has partnered with Xcel Energy to provide a one-stop shop for financing energy related projects|
|Energy Performance Contracting||All businesses||The Colorado Energy Office supports public entities’ financing of energy projects through energy performance contracting.|