Why retail property owners should consider energy and water upgrades
As retail property owners adjust to a new normal and reimagine business models, controlling costs will be critical to success. Retail properties use an average of 18.3 kilowatt-hours (kWh) of electricity per square foot annually, with 60% of it consumed by lighting, heating, and cooling. Lighting alone represents 25% of usage!
You have an opportunity to reduce operational expenses and achieve significant savings by making improvements to lighting and HVAC equipment. Inefficient lighting, heating, and cooling waste valuable dollars every month, impacting your bottom line.
The financial strain of these last couple of years might make energy and water upgrades cost prohibitive for many retailers. But what if there were a way for you to finance these improvements without incurring bad debt?
The Commercial Property Assessed Clean Energy (C-PACE) program is an affordable financing tool for retail property owners, offering longer terms and typically no upfront costs, helping you realize monthly savings. This loan attaches to the property with the same status as ad valorem property taxes and is transferable to a new owner if sold.
Not sure if your project qualifies for C-PACE? Contact Lone Star PACE, a C-PACE administrator in Texas, to understand your eligibility requirements. Lone Star PACE has years of experience working with financing for retail property owners and knows how to help you achieve your goals.
Contractors and commercial property developers: C-PACE can improve your business potential! Your retail clients will benefit from this great program.
Contractors: Land more projects by showing prospective retail property owners how much they can save with energy and water-efficient equipment. Increase project scope and gain business that might not otherwise have been possible by promoting C-PACE financing as a tool.
Lenders: C-PACE financing is affordable and helps local retail property owners stay in business during these tough economic times. Attract clients by educating them on C-PACE and how it’s possible to make upgrades without incurring bad debt.
Commercial property developers: Has retail property development slowed down? C-PACE is a cost effective way to develop buildings with modern equipment that clients need to save on their monthly energy and water bills.