Want to reduce your monthly electric and natural gas utility bills at your business? Interested in marketing your business as “energy efficient and sustainable”?
Find out how cost-effective energy efficiency and renewable energy measures can make it happen! Solar photovoltaics (“PV”) is about half the cost it was just 5 years ago!
Energy Efficiency Incentives Create a Great Return on Investment!
PNM and the New Mexico Gas Company are required by the NM “Efficient of Energy Act” to offer substantive energy efficiency (EE) incentives to homeowners and commercial businesses. Some of the EE incentives will pay for 70% or more of the improvements and save businesses thousands of dollars each year on their energy utility bills! Unfortunately, these incentives are not well-known by Santa Fe area businesses and therefore, aren’t being significantly taken advantage of. While many of the incentives sound “too good to be true”, they are in reality a “no brainer” way for businesses to dramatically reduce their monthly operating expenditures.
Santa Fe-area businesses on PNM’s approved “Trade Allies” list to get the work done for your business!
- Quick Saver – for small businesses - (either on the “small power rate” customer class or other customers with a peak of < 100 kw). Focuses on refrigeration (walk-in refrigerators), and lighting improvements. Great for convenience stores, restaurants, and office complexes and other businesses with lots of lighting. An Albuquerque gym had 82% of the EE improvement costs covered by PNM and is saving $5,500/year!
- Retrofit Rebates – for larger businesses -Lighting, refrigeration, heating, ventilation and a/c (HVAC), and electric motors. There is a "Custom" incentives option. Smith’s grocery stores are saving $6000-$10,000 annually for each store!
- Refrigerator Recycling Rebates
- Advanced Evaporative Cooler Rebates
- Energy Star Home Rebates – for builders of energy efficient homes.
- New Construction Rebates – building a new facility? Check these incentives out!
- High efficiency water heater rebates
- Restaurants – Energy Star convection ovens, fryers, griddles and low flow pre-rinse valve rebates.
- Commercial Solutions Program - objective, no-cost consulting services to help businesses identify cost-effective EE projects, properly evaluate vendor proposals , and leverage the resulting energy savings and financial incentives.
Now is the Perfect Time to “Go Solar” at Your Business!
Today there is a “perfect storm” of solar systems costing as much as 50% less than they did just 5 years ago combined with the continued presence of substantial financial incentives. But you better hurry because some of the utility incentives available to businesses are declining over time. There’s a 30% federal income tax credit for solar systems and a 10% NM income tax credit (up to a max. credit of $9000), plus the purchase is exempt from paying GRT. Most important for businesses, the feds allow a 5 year accelerated depreciation schedule. Solar systems act as a long-term price “hedge” against future utility rate increases.
- A solar photovoltaic (“PV”) electric system uses panels placed on your roof or in a free standing ground array to convert the sun’s light (not the heat as many people believe) into electricity. Energy you don’t use is credited to you at the retail rate as it passes through your utility meter (called “net metering”) and out onto the utility grid. In addition the net metering benefit, for systems smaller than 100 kilowatts (kw), PNM will currently pay you an additional 5 cents per kilowatt-hour (kWh) of solar electricity produced (called the “Renewable Energy Certificate” –REC incentive). REC payment contracts are for 8 years, but the net metering benefit continues indefinitely. But this REC incentive will decrease over time.
- Some businesses have installed “PV parking lots” to generate solar power and provide their customers with covered parking. The installed price of PV systems is in the $5000-6500/kw range. A 10kw system, for instance, would cost between $50,000-$65,000 before 40% in income tax credits and accelerated depreciation benefits. A 10kw system would generate approximately 1100 kwh/month. Compare that generation with your business’ monthly electric consumption.
- A solar thermal system generally uses roof mounted collectors for water heating or space heating, saving natural gas, propane or electricity depending on your heating source. If your business uses a lot of hot water (restaurants, hotels/motels, spas, etc.), solar hot water systems can save you a bundle!
Santa Fe customers respond to businesses who use clean energy technologies!
Install solar power and energy efficiency measures and market your “green” business!