Renew It Now NY – E-Firms 2018-02-12T12:14:48+00:00

RENEW It Now NY logo

    With RENEW It Now NY, design-build firms and energy service providers can offer their customers a turnkey solution to retrofit their facilities' energy systems with no upfront capital outlay. Using 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 develops, finances, owns, operates and maintains the energy-efficiency measures of your customer's building (or portfolio of buildings) during the term of an Energy Service Agreement (ESA).

    In partnership, we help you promote and deliver rapid adoption of energy-efficient and on-site clean energy technologies, solutions that contribute to the Triple Bottom Line (social, environmental/ecological and financial).
Receive the RENEW It Now NY Tool Kit.*

* Qualifying E-Firms will receive a free RENEW It Now NY Tool Kit for growing your energy-efficiency retrofit and clean energy infrastructure services. Tool Kit includes ESA Key Terms and Conditions, a diagram of the ESA model, an overview presentation to customize and use with potential customers, and additional materials for leveraging the platform.

Benefits of Partnering with RENEW

  • More Business: RENEW funds and owns the retrofit, requiring no upfront capital from your customers, enabling more customers to move forward NOW.
  • Greater Innovation: Program helps align your customers’ best interests with yours, rewarding design-build best practices, technology and system innovation, and upfront implementation of superior solutions that optimize performance and maximize return on investment.
  • Expertise: Tap into RENEW’s expertise in energy efficiency and on-site clean energy project development, funding and working with the C-suite.
  • Customer Satisfaction: Your customers 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.
Qualified E-Firm partners can leverage the RENEW It Now NY platform to expand your energy efficiency retrofit business, growing both your top and bottom lines.
By utilizing our turnkey funding and implementation approach your customers can take immediate action while preserving capital and creating net-positive cash flows from day one of a project. You can offer “energy efficiency as a service” (EEaaS) via a RENEW ESA.
RENEW as project owner pays the E-Firm partner all design, development and construction costs. RENEW also pays each E-Firm for O&M (Operations and Maintenance) services that are required for the full length of each ESA. E-Firms may subcontract EPC (Engineering, Procurement and Construction) and O&M work.
E-Firm partners have the ability, driven by a mutually beneficial deal structure that aligns interests, to propose future, cost-effective enhancements and improvements which can be incorporated through a simple ESA amendment process. This option encourages a continuous focus on energy efficiency improvements, ongoing optimization of building performance, and maximum 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 bring in new investments, actively spurring clean energy innovation, and improving consumer choice, the RENEW It Now NY program accelerates the movement of dynamic market forces consistent with Reforming the Energy Vision.
An ESA (Energy Service Agreement) is a service contract (and not a lease or debt obligation). RENEW’s ESA, in effect, turns energy efficiency into a resource that can be produced, measured, and sold, on a mass market scale. For you, it’s a market-transformational, turnkey contracting approach, which allows your customers to do more projects and do them now – and to pay for the energy services out of the savings. Your customer’s payment obligation is determined by the reduction in energy use.
Your customers pay only for energy saved – confirmed via a mutually agreed upon measurement and verification program you help design. You get paid upfront and for ongoing operations and maintenance while your customers are responsible for a stipulated service charge which can be treated like a utility payment (off-balance sheet). This turnkey funding and implementation package allows your customers to do more projects and do them now – addressing their top strategic priorities, without using their own capital.
The customer has the option to treat the ESA payments as an operating expense.
Each customer’s payment obligation is determined by the reduction in energy use. For some projects, the savings are confirmed at the commissioning of the project, establishing that the energy efficiency equipment is generating the savings forecast in the ESA. For other projects, during the first year the owner makes ESA payments based on a forecast of savings, and at the end of the first full year payments are adjusted to reflect the actual, measured-and-verified performance of the project, using industry-standard protocols. Payments are then adjusted to align with the measured 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.
At a defined point during the course of the ESA term the customer has the option to purchase the project at its fair market value. At the end of the ESA term the customer may also buy the project at fair market value, which for most projects will be either nothing or nominal (10% or 15% of the original value). Customers also have the option to extend the term of the ESA for a defined period — at which point the building owner will have seen the vast majority of the savings.
The greater the potential energy efficiency rebate incentive, the better the opportunity to maximize the percentage of the savings a project can deliver back to the customer. The ESA can be structured so that the rebate comes to the project owner (RENEW) or to the customer.
In an ESA, the customer pays for energy savings through a service charge which is less than the savings. In a PPA the customer pays 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.