Utility Helps Small business Finance Efficiency Upgrades (7/22/2016)
A utility program that helps businesses with the upfront costs of making energy efficiency improvements has resulted in big savings for the newly opened Healthy Way Market in Sturgeon Bay.
Healthy Way Market installed energy efficient LED lighting and a roof top air conditioning unit at its new retail space at 142 S Third Avenue. Adam Goettelman, Healthy Way Market’s owner, applied for a Shared Savings Loan with Sturgeon Bay Utilities. The expanded market received $7,854 in utility Shared Savings funding. In turn, Healthy Way Market will save $1,700 a year in energy costs.
Through the Shared Savings program, qualifying businesses may borrow up to $50,000 toward energy-efficiency projects, based on the extent by which projects reduce energy usage. The funds for the improvements are repaid through the utility bill over a period of up to five years. Often, the monthly energy cost savings is greater than the repayment amount, resulting in positive cash flow for the business.
“As a locally owned, not-for-profit utility, we do what we can to help our local businesses stay strong, contribute jobs and keep more money here in the community,” said Jim Stawicki, SBU General Manager.
Although lighting is a common focus, other projects that have received funding include energy efficient variable speed drives, control systems, energy recovery ventilation, and refrigeration. Small businesses, commercial enterprises and non-profit organizations have used the program.
Commercial and industrial customers of SBU may contact the utility’s energy services representative at 746-2820 to set up a no-obligation evaluation.