Grant Services - Advice and Tips

Two Ways To Stretch Your Construction Funds

Thu, Oct 4, 2018 @ 15:10 PM / by Carol Timms

ConstructionConstruction and renovation projects often result in unexpected expenses. When those projects involve energy improvements, schools, local governments and non-profits can employ a variety of funding sources to stretch project budgets. In addition to grants, it is useful to include utility incentives and performance contracting. 

 

Utility Incentives

Utilities often offer a variety of incentives for the installation of energy efficient equipment and lighting.  These incentives often apply to renovation and new construction projects. Contact your local utility to determine what incentives are available. 

Performance Contracting

Performance contracting is considered a budget neutral solution. Energy Service Companies (ESCOs) first conduct energy audits to determine projected energy and maintenance savings resulting from the elements of the project. They then offer a guaranteed projection of savings. Project costs are not paid up front but, rather, are treated as installment contracts or leases. The client pays in installments using energy and maintenance savings. If the guaranteed savings are not achieved in any given period, the client doesn’t pay for that period. 

In addition to the benefits of paying with savings, performance contracting also offers the following benefits:

  • Single Contract – Accredited ESCOs manage the construction process
  • Fixed Price – The contracts specifically state there will be no change orders
  • Guarantees – If energy savings aren’t as predicted, the client doesn’t pay for that time period
  • Energy Savings Continue After Contract Ends
  • Clients Benefit From a Relationship With a Trusted Energy Advisor 

Some ESCOs also provide customer service after the sale including grant writing services.

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When planning a construction project, contact The Grant Helpers to assist you in developing your funding portfolio.  Contact us today for a free consultation to get started.

Topics: grants for energy reduction, budget, educational funding, educational grants, grant sources, municipality funding, nonprofit funding, funding sources, nonprofit, municipal development funds, find matching funds for grants, find matching funds, energy funding, non-profit, grants for green projects, municipal grant, green grants, more grant dollars, finding funding, city development funds, areas of funding, resources, finance grants, grant funding, grant strategies, grant budget

Carol Timms

Written by Carol Timms

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