Associated Renewable, an end-to-end energy consulting and carbon management firm has been selected as a qualified partner in New Jersey’s Clean Energy Pay for Performance Program. The program puts in place requirements for a network of technically-qualified partners that will act as energy experts for commercial, industrial and institutional customers. Pay for Performance (P4P) takes a comprehensive approach to saving energy in existing facilities and planned new construction by offering incentives to reduce the sticker price of their energy efficiency undertakings.
For existing buildings, incentives are awarded upon the satisfactory completion of three “program milestones”, starting with the creation and submission of an energy reduction plan outlining a comprehensive package of measures that reduce a building’s energy consumption by at least 15% from existing levels. Next, through the implementation of proposed measures, buildings can realize incentives based on projected level of electricity and natural gas savings. Thereafter, completion of a post-benchmarking report verifying energy reductions of at least 15% post-implementation is required to capture the value of P4P Existing Buildings program incentives.
The program covers those buildings that have a peak electric demand exceeding 100 kW in the past year as well as new construction buildings exceeding 50,000 square foot of planned space. Five other program-eligible participants that are exempt from the 100 kW or 50,000 sq. ft. requirements include hospitals, public colleges and universities, 501 ©(3) non-profits, affordable family housing and, local government entities (including K-12 schools). Incentives are based on the size of the facility, level of predicted and realized savings and do not exceed 50% of the total project cost or capped at $2,000, 000 per project.
With a team of certified energy professionals, engineers, technicians and grants specialists, Associated Renewable has accumulated vast experience in executing energy efficiency projects for multi-family residences, commercial & institutional buildings as well as, municipalities. Combining this experience with resources from New Jersey’s Pay for Performance program incentives, the company plans to expand its energy management solutions to customers in New Jersey to enable energy cost curtailment and visible building operating performance improvements. Having access to a pool of cost-sharing incentives is important - as Dr. William Shoard, Director of Engineering and Energy Solutions explains,“Incentive programs are important as they encourage building owners to become early adaptors towards carrying out energy savings upgrades at their properties by capitalizing on measures that are financially-attractive. By engaging in incentivized energy efficiency measures, customers can take advantage of reduced simple payback periods and minimized barriers to capital expenditure”.
About Associated Renewable, Inc.
Associated Renewable (associatedrenewable.com) is an end-to-end, full service energy consulting & carbon management company. The company provides energy efficiency and renewable energy solutions to commercial properties, offices, local governments, federal governments, municipalities and other entities. Associated Renewable's mission is to become the leading end-to-end energy solutions provider for organizations seeking to reduce their energy costs, comply with regulatory requirements, and improve their sustainability profile through the implementation of green and cleantech solutions. In addition to providing a superior investment opportunity for our shareholders, we offer solutions to combat the global energy crisis by reducing pollution and carbon emissions.