SEPTEMBER ISSUE: Enhanced Energy Savings
- Sep 22, 2014
Dennis Quinn, COO of Joule Assets, spoke with editorial director Suzann D. Silverman about the financing market for demand response projects. Joule works with energy equipment contractors to help finance rollout of their technology in commercial properties, so the property owner can realize the benefits of the technology far sooner.
Q. Tell me how the property owner benefits from the relationship and how they fit into it?
A. What we’re offering through our contractor is a performance-based model where it’s really an off-balance-sheet, services-based approach for the property manager and the property owner, who may have a number of properties that they can then address these measures to, and do it without having to wait maybe for the next budget cycle or for the next two budget cycles. They can move forward on it, knowing that it won’t impact their financial statements but yet they’ll get the benefit of the savings.
Q. What kind of financing options are there currently for energy efficiency and demand response projects?
A. The energy efficiency space has benefited from a number of financing options for quite some time. There’s the very traditional approaches where an owner of a building may just go to their lender and self-finance the projects. If the payback looks attractive, they’ll write a check for the balance of the capital and oftentimes just go to their own bank or lender for the capital that they require.