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Master Service Agreement: The Key to Decarbonization

April 21, 2023/in From the Blog /by renew

RENEW Energy Partners specializes in funding energy saving retrofits for your commercial, industrial, and institutional buildings. A Master Service Agreement is the key to decarbonization as it allows us to provide and support various technologies to make your buildings more efficient and cut down on your energy costs.

How can a Master Service Agreement be the “key to decarbonization”?

A decarbonized energy system will become a mandatory step for businesses looking to reduce climate emissions and energy transition risks. However, achieving decarbonization goals requires putting a budget in place to fund the plan. A recent Deloitte survey shows that CFOs prefer certain funding options over others.

For finance chiefs, there are three primary strategies for funding their decarbonization goals:

Reassigning growth capital from carbon-heavy resources
Using operational cashflow savings
Applying for grants

Most CFOs view decarbonization as “costly undertaking rather than in investment.” However, “future-focused” organizations have their lead financial executives involved in the decarbonization strategy and identify innovative strategies to fund their decarbonization programs.

To help address this challenge, RENEW offers our Master Service Agreement (MSA) as an energy finance solution. This two-part contract is the key to decarbonization for future focused organizations and CFOs to implement their decarb strategies in a way that is an investment and not a costly undertaking.

Structure of a Master Service Agreement

The MSA includes a General Terms & Conditions section to cover the legal aspects of the agreement between the customer and RENEW while also defining specific Project Addendums to scale energy efficiency and sustainability initiatives. With the MSA Project Addendums, RENEW can implement client-defined scopes of work for energy efficiency retrofits such as lighting, HVAC, and smart energy controls; as well as Power Purchase Agreements (PPA) to install on-site clean power including microgrids, solar energy, energy storage, geothermal and combined heat and power.

These scopes of work may include a share of savings provision that defines the measurement and verification of the project, along with maintenance requirements over the agreement period.

RENEW’s Master Service Agreement is the key to decarbonization as it is more flexible and modular than traditional funding. We share early project development risk by signing a Memorandum of Understanding (MOU) that allows RENEW and its design partners to fully develop the project scope without any upfront capital required.

Once the MOU work is complete, we deliver definitive contracts for the MSA and project addendums. Additional Project Addendums can be added at any time, giving our clients the ability to easily work with RENEW on any future decarbonization projects but does not obligate them to work solely with RENEW on sustainability.

Top benefits of the MSA vs regular decarbonization funding:

Upgrades are funded with future long term savings.
We provide up-front funding to purchase, install, and maintain the new systems.
Each month after installation, for the duration of the agreement, we share a portion of the savings with the client.
The client can take ownership of the new systems at the end of the agreement with 100% of the savings going to their company’s bottom line.

How this high-tech manufacturer uses RENEW’s Master Service Agreement:

MACOM Technology Solutions, a high-performance microwave and optical semiconductor manufacturer, recently worked alongside RENEW and an independent consultant to design, implement and fund a microgrid solution for their Lowell, Massachusetts corporate headquarters. RENEW now owns and maintains the microgrid under a 15-year PPA, saving MACOM hundreds of thousands of dollars per year on their energy bills while reducing over 1860 metric tons per year and adding significant resiliency to MACOM’s manufacturing facility.

Renew Energy Partners provides turnkey solutions for funding, installing, and managing energy efficiency and on-site clean power generation projects. We help building owners reduce their carbon footprint and save money while making their buildings cleaner, nicer, and more resilient. With RENEW’s energy-as-a-service model, energy saving retrofits and power upgrades are funded by future savings and are at no cost to the building owner. For more information on our services, contact us today.

Exposed beams showing building insulation.

Energy Saving Retrofits: Building Envelope and Insulation

April 13, 2023/in From the Blog /by renew

RENEW Energy Partners specializes in funding energy saving retrofits for your commercial, industrial, and institutional buildings. There are many different technologies we can install to make your buildings more efficient and reduce your energy bill. One strategy for significant savings is to upgrade your building envelope and insulation to prevent energy from escaping and being wasted.

Building Envelopment and Insulation

Decarbonizing retrofits typically involve multiple aspects of a building’s systems, such as HVAC, lighting, and water usage. However, the building’s envelope and insulation are often the first place to start, as it can have a significant impact on a building’s energy use and GHG emissions. Upgrading HVAC and other mechanical upgrades are certainly important, but if you have a drafty building, even the most efficient heating and cooling systems will not be effective.

Insulation:

Insulation has to do with preventing heat flow through building perimeters. A building envelope keeps conditioned air inside the building. Together, they help keep buildings cool in warmer months and warm in cooler months.

Additionally, piping that carries hot water, steam, or chilled water to heating and cooling appliances needs to be insulated, and over time that insulation can break down and need replacement. Uninsulated hot water or steam pipes will lose heat constantly, leading to poor efficiency. Uninsulated chilled water piping has the same problem but can also cause condensation and lead to property damage.

When considering insulation options for decarbonizing retrofits, it’s important to consider the R-value, or thermal resistance, of the material. The higher the R-value, or the more heat resistant the insulation material, the better the insulation will perform.

Insulation plays a major role in the energy efficiency of a building. It can help keep the indoor temperature stable, reducing the need for heating and cooling systems. When selecting insulation materials for a retrofit project, there are several factors to consider, including budget, effectiveness, and environmental impact. Some common insulation materials include fiberglass, cellulose, and spray foam, but not all insulation materials are created equal.

Spray foam for example, is not always the best product. Its main advantage is that industrial applications are fast to apply in new build construction, so it’s generally cheaper. A more common retrofit technique is a siding replacement project, foam board (polystyrene) is added to the outside surface of a building, followed by a layer of “house wrap” vapor barrier, then new siding. Generally, you remove the existing siding first, but that depends on the existing construction method.

Building Envelopment:

The building envelope itself is made up of the walls, roof, windows, doors, and other exterior components of a building. It serves as a barrier between the interior and exterior of the building, protecting the occupants from the elements and providing thermal insulation. When a building is properly insulated and sealed, it can significantly reduce energy consumption and GHG emissions.

In addition to insulation, other aspects of the building envelope that can contribute to decarbonizing retrofits include windows and doors, roofing, and air sealing. Upgrading to high-performance windows and doors can also reduce heat transfer, while reflective roofing can minimize the amount of heat absorbed by a building. Proper air sealing can also help to prevent drafts and minimize energy loss.

Lastly, there are building management technologies on the market that focus on monitoring building envelope. Once installed, any air leaks can be detected easily and in real time, strengthening the building envelope and reducing maintenance costs.

Conclusion

Building Envelope and Insulation are often referred to in the energy industry as a building’s “lungs.” If there are holes in the lungs, then any air that is pumped into them has the possibility of leaking out. Any energy saving retrofits applied to HVAC systems will have minimal effect if a building is not well enveloped and insulated.

Updating a building’s envelope and insulation can help customers keep their buildings airtight, keeping the energy they produce within their walls for as long as possible. This helps maintain consistent internal environments and avoids excess energy output to continuously heat and cool indoor spaces.

No matter how you decide to increase your energy efficiency and decrease your carbon footprint, these kinds of projects require funding. In order to fund an energy efficiency project for your building(s), RENEW Energy Partners offers an energy service agreement (ESA). The Energy Service Agreement:

May be treated as an off-balance sheet transaction. In that case, you do not own the asset or carry it on your balance sheet (consult your tax advisor).

RENEW provides preventive and corrective maintenance in the service agreement.

Your payment to RENEW will be based on the energy savings confirmed once the system is operational.

The RENEW Energy Service Agreement allows businesses to focus on what they do best, while ensuring that their facilities are performing at their peak with brand new, and high-efficiency equipment. In this current climate of cost control and resource allocation, the energy service agreement is the perfect solution to help businesses meet sustainability goals and keep facilities in top condition. Reach out to RENEW and talk to us about financing your energy saving retrofits today.

Employee Profile: Alexandra Carroll

March 23, 2023/in From the Blog /by renew

RENEW’s new employee profile blog series will be highlighting our employees who make us great. This month we are featuring our ambitious and intelligent Business Development Lead, Alexandra Carroll.

Q: How long have you worked for RENEW Energy Partners?

A: I’ve been on the RENEW team since November of 2022.

Q: What sort of work do you do for the company?

A: As a Business Development Lead, I am tasked with originating and closing qualified partnerships from our channel partners and other various outbound campaigns. My specific markets are Battery Energy Storage Systems (BESS) and Geothermal Generation and Distribution for the US East Coast and Canadian Markets.

Q: Where are you from? What is one aspect that you enjoyed about the place that you grew up?

A: I’m from Baltimore, Maryland. Growing up I always enjoy going to my neighborhood’s annual street festival which featured plenty of local music, handmade art, live music, a car show, and more.

Q: What activities/hobbies do you enjoy in your daily life? How do you relax?

A: Cooking is one of my favorite daily activities, I love trying my hand at anything interesting I find on Instagram. On winter weekends I like to ski, and in the summer, I enjoy riding my gravel bike.

Q: Why is sustainability/decarbonization important to you? How did you get started in this career/field?

A: I started in this field as an undergraduate student at the University of North Carolina-Chapel Hill where I minored in Sustainability Studies. Notably my capstone project focused on analyzing public opinion of utility scale solar projects on behalf of a scaling solar provider. Sustainability is important to me because at its core, it is a matter of efficiency and optimization–the added bonus is the avoided harm of our ecosystem and communities.

Q: Have you ever worked in another field? What was it and why?

A: Previously I worked in construction management where I oversaw the install of commercial scale mechanical projects.

Q: What sustainability practices have you seen that have surprised and/or excited you?

A: I’m most excited by emergency technologies focused on resiliency. As volatility in our climate and economy continue to escalate, systems such as microgrids and battery storage will help avoid downtime and avoidable premiums.

Q: Why do you choose to work with RENEW?

A: I chose to work with RENEW because of the demonstrated conviction of the leadership team. The ability to scale the adaption of energy efficient technology under the direction of experienced market makers is compelling.

Q: What are you most excited about for the future of the energy industry?

A: I’m most excited to see the technological improvements to lithium-ion batteries. If manufacturers can continue to decrease the footprint of the units and to lessen battery performance degradation, the economics of these projects should encourage deep decarbonization and resiliency.

To be continued next month. We are lucky to be growing our team with exemplary individuals. Last month’s featured employee profile included Carter Kupchella. If you are interested in joining RENEW, you can find our current career opportunities here.

RENEW Energy Partners specializes in funding energy saving retrofits for your commercial, industrial, and institutional buildings. For more information contact us today!

Water Saving Retrofits

March 16, 2023/in From the Blog /by renew

RENEW Energy partners specializes in helping fund energy saving retrofits for your commercial, industrial, and institutional buildings. There are many different technologies we can install to make your buildings more efficient and reduce your energy bill. One place to deliver significant savings is by reducing your water consumption with a water saving retrofit.

Water Saving Retrofits

Water savings are a very beneficial by-product of energy saving projects, but not always the initial driver of a new project. Typically, when we talk about saving water, we are really talking about saving the energy required to pump, purify, and/or heat water. In an energy saving retrofit, you want to eliminate places where you’re wasting water for the same reason’s you want to improve efficiency of any energy systems–to reduce the energy usage. Except for fixing a large leak, water saving retrofits are always going to be grouped together with controls or another efficiency improvement in order to decarbonize most effectively.

The Basics

Opportunities for water savings can be found in three places: plumbing fixtures, irrigation, and HVAC equipment.

As with any retrofit it is important to meter your consumption before planning a project. Water submeters can help break down your building’s usage in more detail than your utility bills, and in complex systems submeters can help identify sources of waste that would otherwise go unnoticed.

Water efficiency is one of the easiest and most measurable energy saving retrofits because it typically involves one-to-one fixture or appliance replacements.

It is important to remember that while simple upgrades are simple to implement, more complicated upgrades require knowledge of the water codes in your building’s jurisdiction.

Plumbing

Common plumbing retrofits include low-flow urinals and toilets, which can provide significant water savings. Both urinals and toilet upgrades will require the upfront cost of flush valve and china replacement. Additional modifications to the piping in the plumbing chase or below the flow may be required as well.

To provide low-flow lavatory and shower upgrades, it is important to review all water distribution systems. Oversized pipes and the location of the fixture compared to the heating source can increase the amount of energy your system needs to heat water. Adjusting the locations of these features and sizing piping diameter correctly can reduce that energy spend. Additionally, ensuring that hot water recirculation loops are sufficiently insulated is a critical part of reducing domestic water costs.

Irrigation

If irrigation is your biggest energy spend, upgrading controls should be a priority. Irrigation controls can help you monitor consumption in real time, as well as more accurately deliver water where it’s needed. Delivering the right amount of water at the right time is the key to efficient irrigation.

HVAC

You can learn more about the history, basics, and future of HVAC retrofits in our previous blog posts here.

Besides decreasing carbon fuel usage, major water reductions are often a great side effect of upgrading an outdated heating system. In particular, transitioning away from steam heating can yield both huge water and energy savings. If eliminating steam is not an option, upgrading and replacing steam traps or condensate return systems can still have major impacts in a large system.

Additional Water Conservation Methods

Beyond the basics, retrofits can include more specialized technology such as dishwasher and garbage disposal replacement for buildings that have kitchens and food waste. More efficient closed loop dishwashers can use significantly less water and energy than older steam driven ones, providing plenty of energy savings.

Water controls are also a crucial element in sustainability projects. Smart water meters deliver consumption and temperature data in real time in order to educate building owners and provide the opportunity for long-term behavioral changes. Smart leak detection technology, as well as humidity detectors, can easily detect leaks that need to be addressed in a retrofit. In addition, they send out alerts as soon as a new leak happens, thus preventing more damage from occurring and minimizing maintenance costs. Water control technologies can deliver significant savings for customers and new products are continuing to be developed and introduced to the market.

Other campus water improvements can include leak monitoring as well as replacing any grass lawns with drought-tolerant or native landscaping.

Conclusion

By pairing water savings with a larger energy saving retrofit, you can simultaneously decarbonize and reduce your energy bills. When paired with buildings controls, clients can monitor their water use and identify maintenance issues in real time.

Reducing your buildings water demand will also benefit your greater community by reducing demand on communal water infrastructure.

No matter how you decide to improve your water system, energy savings retrofits projects require funding. In order to fund an energy saving retrofit for your building(s), RENEW Energy Partners offers our own energy service agreement (ESA). The Energy Service Agreement:

Can be treated as an off-balance sheet transaction. You do not own the asset or carry it on your balance sheet. (You will consult with your accountant on this).
RENEW provides preventive and corrective maintenance in the service agreement.
Your payment to RENEW will be based on the energy savings confirmed once the system is operational.

Unlike a lease or a loan, which are on balance sheet, do not include maintenance, and may or may not deliver energy savings, the service agreement provides all of the above and then some:

Executing a service agreement is fast – once the project is scoped by an energy professional (and we can recommend one), you execute a simple service agreement contract and RENEW will fund the project.
Executing a service agreement frees up your capital budget for your other priorities, allowing you to focus on growing your core business.
Executing a service agreement now means your net cash flows are higher than waiting and doing it yourself in a year.
And finally – executing a service agreement means flexibility. Perhaps you buy another building or look at additional efficiency measures–with a one-page addendum to your existing ESA you can have those new lights, HVAC, plumbing, and controls at your new building, and you simultaneously reduce your operating expense!

The RENEW Energy Service Agreement allows businesses to focus on what they do best, while ensuring that their facilities are performing at their peak with brand new, and high-efficiency equipment. In this current climate of cost control and resource allocation, the energy service agreement is the perfect solution to help businesses meet sustainability goals and keep facilities in top condition. Reach out to RENEW and talk to us about funding your energy saving retrofits today.

Employee Profile: Carter Kupchella

February 23, 2023/2 Comments/in From the Blog /by renew

RENEW’s newest employee profile blog series features our employees who make us great. This month we interviewed one of our talented Project Engineers, Carter Kupchella.

Q: How long have you worked for RENEW Energy Partners?

A: I started with RENEW in December 2022.

Q: What sort of work do you do for the company?

A: I work as a Project Engineer, so I support all our projects with my technical background. I wear a lot of hats, from helping analyze the potential of projects in development, to supporting our EPC contractors through construction and operation of equipment.

Q: Where are you from? What is one aspect that you enjoyed about the place that you grew up?

A: I grew up on the south shore of Massachusetts, in Scituate. I will always love the ocean, and small coastal fishing towns. I grew up learning to sail, spending summer days at the beach, and eating fried clams and lobster – I wouldn’t trade it for anything.

Q: What activities/hobbies do you enjoy in your daily life? How do you relax?

A: I love anything that gets me outside. In the winter that’s usually skiing, and in the summer, I’ll go hiking, mountain biking, or out onto the nearest body of water. I’m also a car nut, and while I don’t have anything to wrench on right now, you can usually catch me researching or browsing eBay for a project. In 2023 I am relocating from Boston to Utah, and I can’t wait to spend even more time outside doing those things I love.

Q: Have you ever worked in another field? What was it and why?

A: I spent a year after college working in construction management for a nonprofit, building housing in a disaster recovery zone. I wanted to build something physical and make a concrete positive impact on the world. I would say I did that, as we built more than 50 homes in that year, and I made a lot of personal connections with the people and families we were able to assist.

Q: What is one fun fact about you?

A: I’m getting married in September 2023, but because of our move out west (which we didn’t have planned when we got engaged) it will be a “destination” wedding for us– to Massachusetts!

Q: Why is sustainability/decarbonization important to you? How did you get started in this career/field?

A: I knew from when I was in college that I wanted to make an impact on the energy economy, but it took some exploring before I found the niche where I could be useful. I worked for a design-build engineering firm for 5 years that specialized in energy reduction and decarbonization projects, and that experience helped me see just how huge the issues we face as a society are. It also helped me learn how to approach projects within operating institutions and businesses, and how implementation is never as simple as having the most efficient design.

Q: What sustainability practices have you seen that have surprised and/or excited you?

A: I get excited about optimized energy systems and eliminating waste. In the past, the projects I’ve worked on that excite me the most involve using “waste” heat for a novel application – like using the heat removed from a chiller to reheat ventilation air, or combined heat and power projects. However, what’s surprised me is that even if you have a really optimized design or idea, it’s typically a financial or administrative factor that can hold up a great project.

Q: Why do you choose to work with RENEW?

A: Being a part of RENEW allows me to be close to major carbon and energy reduction projects and truly measure my impact. I’m also happy to be around people every day who share that feeling of accomplishment associated with helping to save the environment.

Q: What are you most excited about for the future of the energy industry?

A: I’m excited because I feel that progress really is possible and happening around us. The financial incentives are finally aligning with the moral necessity of addressing climate change, and the number of people in this space just continues to grow. It’s an exciting time to be here!

To be continued next month. We are lucky to be growing our team with exemplary individuals. We are lucky to be growing our team with exemplary individuals. Last month’s featured employee profile included Michael Savage. If you are interested in joining RENEW, you can find our current career opportunities here.

RENEW Energy Partners specializes in funding energy saving retrofits for your commercial, industrial, and institutional buildings. For more information contact us today!

The Future of HVAC Retrofits

February 16, 2023/in From the Blog /by renew

RENEW Energy Partners specializes in funding energy efficiency retrofits for your commercial, industrial, and institutional buildings. There are many different technologies we can install to make your buildings more efficient and reduce your energy bill. One strategy for significant savings is to upgrade to your commercial HVAC systems to heat and cool your building more efficiently.

The Future of HVAC Retrofits

For our last two blog posts we have talked about HVAC, its history, current technology, and its important role in energy efficiency retrofits. But beyond the basics, there is newer technology that promises to be the future of HVAC retrofits. This technology shift is often referred to as electrification.

HVAC Electrification:

Electrification, or converting your heating from fossil fuel burning systems to electric, is a common and effective energy efficiency retrofit that will further decarbonize your building and could eliminate your gas, oil, or steam utility bills. Just like the rapid advancement of electric vehicles, there is no point of use emissions. Your buildings environmental impact is now tied to the local utility grid carbon intensity. Combining full building electrification and either on-site or off-site renewables allows buildings to be carbon net-zero.

The two most common HVAC retrofit projects include heat pump and electric boiler installations. Heat pumps in particular are a revolutionary invention because they can address both heating and cooling, sometimes simultaneously, and are always more energy efficient than burning a fossil fuel on site.

What are Heat Pumps?

In simple terms, a heat pump moves heat from a cold place to a warm place. They are powered by electricity and transfer heat using compressors and a refrigerant. In cooler months, this can mean pulling heat from the cold outdoor air and transferring it indoors. In warmer months, they can pull heat out of indoor air to condition a space. In colder climates, a secondary electric heat source can be added for additional or backup capacity. Heat pumps do not burn fossil fuel like an oil or gas furnace does, making them more environmentally friendly. Additionally, because they move heat instead of generating it, heat pumps will only consume between 20% and 50% of the energy input that a boiler or furnace (even an electric one) would need to provide the same amount of heat.

There are a few different types:

Air Source Heat Pumps: Air source heat pumps absorb heat directly from the air. They are not as effective in cold weather, as there is a minimum air temperature at which they can operate (depending on the refrigerant used). Air source heat pumps generally work best in mild climates or during the “shoulder season” – temperatures between 5 and 25 degrees Celsius (between 41 and 77 degrees Fahrenheit), though some can operate below freezing at a reduced capacity.
Ground Source Heat Pumps: These heat pumps absorb heat from the ground. In cold weather, ground source heat pumps are more effective than air source heat pumps, because the ground retains heat through the winter. In most cases, the ground temperature will stay above 5 degrees Celsius (41 degrees Fahrenheit) allowing for year-round operation. This can also be called a geothermal heat pump.
Water Source Heat Pumps: In addition to pulling heat directly from the air and ground, heat can be conducted via water from almost any other heat source. Water can contain more heat than air can (think about a cast iron pan cooling in the air vs being doused with cool water), which is why many buildings already distribute heat with water. By integrating with the existing building infrastructure, these heat pumps can make use of energy that may currently be going to waste, such as the heat rejected from refrigeration or a data center. In this case, the name can be confusing because “water source” is misleading – the water is the medium but not the ultimate “source” like air or ground are for the other examples above. A water source heat pump is a general term for a heat pump that uses any other heat source as an input, conducted to it via water piping. There are also true “water source” heat pumps that can pull heat from a lake or river, but they’re uncommon. Four-pipe heat pumps can heat and cool, but not simultaneously. Six-pipe heat pumps (and some specialized “heat recovery style” four-pipe systems) can heat and cool at the same time, which is ideal for buildings that require heated office space as well as significant amounts of freezer storage. Read more about water saving retrofits here.

What are the Electric Boiler Options?

Electric Boilers: Electric heaters are powered by electricity, whether from the electric grid or stored in batteries. Typically, electric boilers can transfer 100% of their provided electrical energy into heat, though there are slight losses in the electric and heat distributions. They are safe, energy efficient and affordable. Cons include that they are affected by power outages.
Electric Infrared Heaters: An infrared heater is typically more efficient than a standard electric boiler, as there are fewer losses in distribution. 100% of the energy produced can be kept in the conditioned space. An infrared heater also has more power options. They can be powered by electricity, but also by propane and natural gas (which would bring up the carbon footprint and is not recommended for an energy efficiency retrofit).

Conclusion

To summarize, when contemplating an energy efficiency retrofit project, implementing HVAC retrofits to your systems is a crucial way to decarbonize and save money. While you can update more traditional fossil-fuel-powered heating and cooling modules to be more energy efficient, the most progressive update you can make is to electrify your HVAC. This will lower your bills, decarbonize your building, and will benefit the health of all employees. It will also clearly position you and your company as a leader in carbon reduction.

No matter how you decide to increase your energy efficiency and decrease your carbon footprint, these kinds of project require funding. In order to fund an energy efficiency project for your building(s), RENEW Energy Partners offers an energy service agreement (ESA). The Energy Service Agreement:

Can be treated as an off-balance sheet transaction. You do not own the asset or carry it on your balance sheet. (Renew does not provide accounting advice. Our customers consult their own accounting teams on accounting treatment).
RENEW provides preventive and corrective maintenance in the service agreement.
Your payment to RENEW will be based on the energy savings confirmed once the system is operational.

Unlike a lease or a loan, which are on balance sheet, do not include maintenance, and may or may not deliver energy savings, the service agreement provides all of the above and then some:

Executing a service agreement is fast – once the project is scoped by an energy professional (and we can recommend one), you execute a simple service agreement contract and RENEW will fund the project.
Executing a service agreement frees up your capital budget for your other priorities, allowing you to focus on growing your core business.
Executing a service agreement now means your net cash flows are higher than waiting and doing it yourself in a year.
And finally – executing a service agreement means flexibility. Perhaps you buy another building or look at additional efficiency measures–with a one-page addendum to your existing ESA you can have those new lights, HVAC, and controls at your new building, and you simultaneously reduce your operating expense!

Lighting: The Easiest Energy Saving Retrofit

November 4, 2022/in From the Blog /by renew

RENEW Energy partners specializes in helping fund your energy saving retrofits for your commercial, industrial and institutional buildings. There are many different technologies we install to make your buildings more efficient and reduce your energy bill. One of the best places to start is with an energy saving LED lighting retrofit.

A Brief History of Lighting:

Illumination has come along was since 1880, when the Edison Electric Company started marketing their newest product, a lightbulb with a carbonized bamboo filament. Eventually, the bamboo filaments changed to tungsten, and after a while the first incandescent bulbs were invented, which began to be distributed in the 1940s.

Modern incandescent bulbs, like their predecessors, are not energy efficient – less than 10% of electrical power supplied to the bulb is converted into visible light. The remaining energy is lost as heat. These low-efficiency incandescent bulbs are still commonly used today because they are widely available, have a low first cost, are easily incorporated into electrical systems, and have a low voltage operation in battery powered devices.

These incandescent bulbs could easily be the ones lighting your buildings. If that is the case, 90% of your lighting bill is being wasted! The good news is, a lighting retrofit is one of simplest ways to increase your energy efficiency, save money on your energy bills, and lower your carbon footprint. RENEW Energy Partners is here to provide the funding you need to do so.

The Future of Energy Saving Lighting:

A great energy savings retrofit starts with lighting. The best way to reduce your lighting costs is to switch to LED lighting (LED stands for light-emitting diode). Although once known mainly for indicator and traffic lights, LEDs are today’s most energy-efficient and rapidly developing lighting technology. LEDs use up to 90% less energy and last up to 25 times longer than traditional incandescent bulbs.

LED lights are such a great energy saving retrofit that most if not all new buildings use LED lights. However, 1,000’s of buildings have yet to convert. Energy-saving LED retrofitting is great because they have great payback (usually less than a few years), are now a proven technology with little performance risk, and they offer significant maintenance savings since they last 50 to 100 times longer than incandescent bulbs.

If you are exploring an energy savings retrofits start by looking up, if you don’t see LED lights than that is where you should start.

Once you have installed new bulbs, the next step to make your building more energy efficient is to install lighting controls. The technology varies, but these are effectively a dimmer switch. Instead of only two options for lighting (on and off), building operators can have lights running anywhere on the gradient between 1%-100% use). This allows for more efficient lighting settings, in addition to more efficient bulbs. In fact, using dimmable LED lights doubles the life of your bulb, saving on energy costs even further.

Another way to enhance your energy saving retrofit is to install motion sensors. Motion sensors allow your lighting to turn on when they detect movement and to turn off if they have not detected movement for a while. This helps save energy by automatically shutting of lights in empty rooms. The same effect is achieved with lighting timers if your building runs on a regular schedule.

Dimmers, motion sensors, and lighting timers are controlled using a smart lighting system. When these are incorporated into your building management system, they allow you to control the lighting for your entire building on one screen. In addition, some smart lighting systems have analytics tools so you can monitor your energy use in real time and compare it to your past energy use.

Implement Energy Saving Lighting with an Energy Service Agreement

No matter how you decide to increase your energy efficiency and decrease your carbon footprint, these kinds of project require funding. In order to fund an energy efficiency project for your building(s), RENEW Energy Partners offers an energy service agreement (ESA). The Energy Service Agreement:

Is an off-balance sheet transaction. You do not own the asset or carry it on your balance sheet.
RENEW provides preventive and corrective maintenance in the service agreement
Your payment to RENEW will be based on the energy savings confirmed once the system is operational.

Unlike a lease or a loan, which are on balance sheet, do not include maintenance, and may or may not deliver energy savings, the service agreement provides all of the above and then some:

Executing a service agreement is fast – once the project is scoped by an energy professional (and we can recommend one), you execute a simple service agreement contract and RENEW will fund the project.
Executing a service agreement frees up your capital budget for your other priorities, allowing you to focus on growing your core business.
Executing a service agreement now means your net cash flows are higher than waiting and doing it yourself in a year.
And finally – executing a service agreement means flexibility. Perhaps you buy another building or look at additional efficiency measures–with a one-page addendum to your existing ESA you can have those new lights, HVAC, and controls at your new building, and you simultaneously reduce your operating expense!

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How can a Master Service Agreement be the “key to decarbonization”?

Structure of a Master Service Agreement

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How this high-tech manufacturer uses RENEW’s Master Service Agreement:

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A Brief History of Lighting:

The Future of Energy Saving Lighting:

Implement Energy Saving Lighting with an Energy Service Agreement

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