The idea of saving money and reducing energy seems to be a trend as more and more businesses dream of improving their practices. However, the start-up costs of things like solar power or eco-friendly appliances can make the idea of becoming ecofriendly feel unrealistic.

On Wednesday, March 20, Xcel Energy hosted an online webinar on new and existing programs available for commercial businesses, ranchers, and non-profit entities looking to reduce energy and save money without capital.

Empower Facilities from Xcel Energy customizes solutions that deliver turnkey behind-the-meter facility system upgrades. According to Gregg Shipp, Product Manager for Empower Facilities, 60% of energy is used between heating and cooling, lighting, and controls.

Wouldn’t it be great to cut that use by a significant amount? But who has that kind of money these days?! There is assistance available. After the Inflation Reduction Act (IRA) passed in August 2022, new programs have been set in place to help businesses obtain their ecofriendly dreams.

With the passing of the IRA, $8.8 billion was approved to generate rebates for home energy efficiency and electrification projects, expecting to save American households up to $1 billion annually.

As part of the IRA, Section 179D was created, allowing tax-paying building owners to claim a tax deduction, up to $5 per square feet, for installing qualifying systems in buildings.

Xcel Energy offers programs to help with building improvements, including financing offers for those that don’t have the funds to pay cash for such projects. Options for financing include “asa service” technology subscription, eliminating up-front capital needs, and providing predictable, fixed monthly expenses. A second financing option is a pay-over-time traditional lease/loan.

Included in the Empower Facilities program is the option for Xcel Energy customers to include payments as a line item on their monthly energy bill.

Grants like the Energy Efficiency and Conservation Block Grant Program (EECBG) are available to assist states, local governments, and Tribes in implementing strategies to reduce energy use, to reduce fossil fuel emissions, and to improve energy efficiency.

Energy experts design and lead all Empower Facilities projects, which offer you backup performance guarantees, monitoring, and long-term maintenance engagements options. Energy efficiency, renewable energy, electric vehicles, computers, and building electrification are some of the projects Empower Facilities will help with.

According to another source from Empower Facilities, “Often project improvements pay for themselves in less than a year.” The purpose of the webinar was to “explore paths towards funding energy efficiency and renewable energy projects, and effective solutions for getting these projects done.”

To learn more about Empower Facilities from Xcel Energy, please visit https://co.my. xcelenergy.com/s/business/ solutions or chrome-extension:// faidnbmnnnibpcajpcglclefindmkaj/ https://www.xcelenergy.com/ staticfiles/xe-responsive/Marketing/ empower-facilities-info-sheet.pdf.

To learn more about the EECBG, please visit https://www.energy.gov/scep/energy-efficiency-andconservation-block-grant-program.