GRC-Pirk Management, the registrar for www.FindGreenGarage.com, announced June 11 that they have been authorized to qualify certified green shop owners for funding assistance. The independent validation qualifies automotive service and repair centers for up to $100,000 from participating utility companies and financial institutions.
Like this article? Sign up to receive our weekly news blasts here.Now shop owners can finance their green investment with installments on their monthly utility bill or through conventional leasing. Funding is based on an engineering assessment that payments would be less than the utility cost savings and result in a positive cash flow for the owner.
Vehicle service and repair facilities registered under EPA green programs that have a three-year, clean payment history with their utility company are eligible. Building owners must submit evidence of energy-savings or pollution prevention measures that result in lasting impacts for the facility to qualify. In addition, a full credit and insurance review is performed before a funding application is considered.
Many utility and leasing companies participate in paid-from- savings funding. Performance and tax incentives reward participants when they achieve a specified goal or level of success for implementing energy efficiency projects and equipment. For example, in Connecticut, utilities can earn “performance management fees” depending on goals established by the Connecticut DPUC, such as the program’s lifetime energy savings.
“In today’s tough economy, many shops delay the replacement or improvement of inefficient equipment and building components because the initial purchase costs are perceived as an obstacle, said Steven Schillinger, President of GRC-Pirk Management. Despite attractive returns on investment and other long-term benefits of energy efficiency projects, many owners simply do not pursue going green opportunities because of “first-cost” barriers. Proof of green can now be used to help overcome these initial cost barriers by making it easier to acquire up-front capital.”
For more information about GRC-Pirk Management visit www.certifiedgreeninvestment.com.
For more informatin visit www.findgreengarage.com.
