Renew It Now NY – Building owners 2018-02-12T12:14:49+00:00

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    Through a multi-million dollar capital pool RENEW has raised from “impact investors” (funds and high-net-worth individuals who want to invest in climate-change solutions), RENEW funds and manages the entire energy-efficiency retrofit process for you. You pay only for actual energy savings realized.

    By working with a partnering E-Firm of your choosing, RENEW develops, finances, owns, operates and maintains the energy-efficiency measures in your building (or portfolio of buildings) during the term of an Energy Service Agreement (ESA). This innovative solution encourages the use of superior technologies and best practices in building performance. From day one, you lower your monthly energy bills and carbon emissions, reducing your impact on the climate.
Interested in learning more? Contact us directly at 585.943.7604 or complete the form below.

Benefits of Participating in the RENEW It Now NY Program

  • No Upfront Capital: RENEW funds and owns the retrofit, enabling you to immediately lower your energy costs and greenhouse gas emissions. You pay for energy saved through a service charge which can be treated like a utility payment (off-balance sheet).
  • Expertise: RENEW and our Partners design, procure and construct the retrofit, providing warranty and maintenance support over the term of the ESA.
  • Accountability: Energy savings are confirmed via a transparent measurement and verification program.
  • Immediacy: You enjoy net-positive cash flow on day one from remaining energy savings.

Frequently Asked Questions About RENEW It Now NY

RENEW Energy Partners is an energy efficiency and on-site clean energy project development and funding firm focused on the commercial, industrial and institutional sectors in the United States. RENEW and their impact investors’ goal is to promote the rapid adoption of energy efficient and on-site clean energy technologies in order to drive reductions in greenhouse gas emissions. We have developed a strategic approach that empowers customers to take immediate and comprehensive action on these types of projects (no more phasing) while preserving capital, maximizing greenhouse gas reductions and creating net positive cash flows.
RENEW’s investors are impact investors who seek both a fair market return for their investments and equally measurable and verifiable carbon emissions reductions impacts and job creations impacts for every dollar that they put to work.
You can take immediate action on a building upgrade or energy infrastructure project while preserving capital, creating net-positive cash flows from day one, and advancing your carbon reduction/sustainability goals.
Yes. You can utilize a turnkey funding and implementation approach that, in effect, delivers “energy efficiency as a service” (EEaaS) via RENEW’s Energy Service Agreement (ESA).
RENEW pays the E-Firm partner all design, development and construction costs. RENEW also pays each E-Firm/subcontractor for O&M (Operations and Maintenance) services that are required for the full length of each ESA.
Driven by a mutually beneficial deal structure that aligns the interests of RENEW and your E-Firm partner(s), they have both the ability and strong incentive to propose additional, cost-effective improvements which can be incorporated through an ESA amendment process. This option encourages a continuous focus on energy efficiency improvements, ongoing optimization of building performance, and maximum return on investment in the form of increased savings.
REV is short for Reforming the Energy Vision, New York’s official plan to make its electric grid cleaner, more efficient, and affordable. Consumers are becoming “prosumers” – producer-consumers who demand electricity flow from and to the grid. Groundbreaking regulatory reform is creating stronger market forces to advance energy efficiency and reduce carbon emissions, incentivizing the market away from traditional power generation and toward distributed energy resources, rewarding greater energy efficiency and environmental benefits aligned with the public good. Designed to generate new investments, actively spurring clean energy innovation, and improving consumer choice, the the RENEW It Now NY program accelerates the movement of dynamic market forces consistent with Reforming the Energy Vision.
An Energy Service Agreement (ESA) is a service contract (and not a lease or debt obligation). RENEW’s ESA involves an innovative, turnkey contracting approach that allows you to pay for energy efficiency upgrades out of savings, with your payment obligation determined by the reduction in energy use.
You pay only for energy saved – confirmed via a mutually agreed upon, trusted, and standardized measurement and verification program. Working with a partnering E-Firm of your choosing, we develop, finance, own, operate and maintain the energy efficiency measures in your building (or portfolio of buildings) during the term of the ESA. This approach aligns your E-Firm’s best interests with yours, encouraging the use of superior technologies and best practices in building performance. We and our partners provide warranty and maintenance support over the term of the ESA. You pay for confirmed energy saved through a stipulated service charge that can be treated like a utility payment (off-balance sheet).
You have the option to treat the ESA as an operating expense in consultation with your accountants.
Your ESA payment obligation is determined by the reduction in energy use. For some projects, savings are confirmed during the commissioning of the project, establishing that the energy efficiency equipment will generate the savings forecasted in the ESA. For other projects, ESA payments are based on an initial forecast of savings, and at the end of 12 months the ESA payments are adjusted to reflect the project’s full year of measured-and-verified performance. In all cases, industry-standard protocols are used in order to closely align ESA payments with actual performance.
The ESA will cover most energy efficiency measures with a +/- 5-year simple payback.
Projects range from $200,000 – $10 million. Projects above $10 million are possible with special approval. Multiple projects with different scopes across a portfolio of buildings can be easily aggregated into a single ESA.
ESA terms typically range from six years to ten years. The term can be extended out to as long as twenty years depending on a variety of factors including equipment useful life, available project cash flow, customer financial strength, investor restrictions and statutory limitations.
A: At a defined point during the course of the ESA term you have the option to purchase the project at its fair market value. At the end of the ESA term, you have the option to purchase the project at its fair market value, which for most projects will be a fairly low (10-20% of original value) or zero. You also have the option to extend the term of the ESA for a defined period in lieu of a fair market value buyout – at which point you will have seen the vast majority of the savings.
In an ESA you pay for energy savings through a service charge which is less than the savings. In a PPA you pay for energy produced through on-site energy generation such as on-site solar or combined heat and power. RENEW can integrate on-site energy generation and energy efficiency into a single project and a single hybrid ESA/PPA.