Fund Models No-Upfront Energy Efficiency Financing After Solar
Brightergy’s newly-closed fund – BrighterSavings – will provide no-upfront cost financing to energy efficiency projects.
With full underwriting discretion, Brightergy plans to finance a wide variety of efficiency projects with public and private schools, municipalities, commercial businesses and non-profits.
Brightergy owns the energy-efficiency projects they install, leasing to the building owner who either pays fixed monthly payments or a percentage of the energy savings. A typical BrighterSavings lease term is 5 years.
BrighterSavings covers a wide variety of energy efficiency technologies, including high efficiency lighting. All financing for the project is first-party through Brightergy; there is no third party approval process.
One of the company’s first clients to utilize this fund is John Knox Village, a continuing care retirement community in Lee’s Summit, Mo. Previously, John Knox Village installed 146 kW of solar with Brightergy through Brightergy’s no-upfront cost solar financing. Now, the retirement community will upgrade lighting at 15 of its existing buildings and add LED’s to a 56,000-sq-foot new building.
Brightergy has built its business to date primarily through the financing, development and installation of more than 1,000 commercial rooftop solar PV projects.
Why bring buildings online? What information can operations teams glean from real-time data that they can’t just get from the monthly data provided by utility companies? Click to learn more.
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