From brilliantly lit LED technology to refrigeration cases that increase volume and shelf appeal, energy-efficient projects can completely refresh a store while reducing energy use storewide. To help grocers enjoy these benefits sooner, PG&E offers On-Bill Financing (OBF), a zero-interest loan paid back through the utility bill. With OBF, eligible customers can obtain loans of $5,000 to $100,000 per site for a variety of energy-efficient projects.
There are many benefits to OBF, including:
- Using a zero-interest loan to replace old equipment with new energy-efficient equipment
- No or low upfront costs to the business (most contractors will pay for project installation upfront; related carrying costs can be included in the OBF loan)
- Up to five years to pay back the loan
- Gaining customer appreciation by promoting environmental awareness
- Improving a business and increasing property value
OBF loans are paid through equal monthly utility bill payments. These loans are usually bill-neutral, meaning that savings from the energy-efficient projects help offset this added cost.
The OBF loan is great for projects that will stay within the maximum of $100,000 per store, up to a maximum of a five-year payback. It’s best to bundle larger capital items with a longer payback time, such as cases, with shorter payback items, like anti-sweat heater controls, to keep the whole project fully funded.
The EnergySmart Grocer Program is here to help customers take full advantage of OBF and will assist every step of the way. Reach out to your account manager to learn more about OBF and see if it’s right for you.