Utility Incentives: Staying Ahead of the Game
Keeping up with Incentives is a Crucial Part of the Job for Energy Engineers, Building Auditors, and More
By Derek LaClair, MBA
As an energy engineer, building auditor, or other professional working in the energy industry, you know that keeping up with the latest trends, technologies, and incentives is essential. One of the most crucial aspects of your work is staying up-to-date with utility rebates and incentives, which can make a significant impact on your projects and clients’; bottom lines.
Incentives vary from state to state and utility to utility – not to mention that they are constantly
changing; this makes it quite challenging to stay on top of everything. That’s why we’ve put together this guide to help you stay ahead of the game and make the most of the incentives available to your customers.
Why Keep Up with Utility Incentives?
First and foremost, utility incentives can help you close more deals. By offering cost savings to your
clients your projects become that much more attractive. Incentives help make energy-efficient upgrades and renovations more affordable and, thus, reduce the payback period of these investments. Incentives can also help bring in clients by making your services more attractive, especially if they are in a competitive industry.
Another reason to keep up with utility incentives is that they can help you stay on the cutting edge of energy-efficient technology. As utilities look to incentivize new technologies and innovations, staying up to date with those incentives can help you identify the latest trends and keep your skills relevant.
How to Find and Access Incentives
Most utilities have dedicated webpages and databases filled with information about the incentives they offer. These resources provide an excellent starting point and can help you get a comprehensive understanding of eligible projects and application requirements. However, they can be time-consuming to navigate, which is why keeping up with industry newsletters and public policy updates is also crucial.
There are also third-party tools available that can help you find incentives for specific projects,
equipment types, or clients. These tools aggregate incentives across utilities and offer comprehensive
analysis of project feasibility, financial analysis, and more. While they come with a cost, they can be an excellent investment, saving you time and money in the long run.
Benefits of Staying Up-to-Date
Staying up-to-date with utility incentives offers numerous benefits beyond direct cost savings. It can help you improve your project’s overall impact, making it more innovative and sustainable. It can also help increase your efficiency as you become more adept at identifying eligible projects and submitting applications. This efficiency can save you valuable time, allowing you to take on more projects and generate more revenue. Additionally, if customers save cash on projects, it could open the possibility that they use the additional budget to increase the size of their investment with your company through
a larger overall retrofit.
Ultimately, keeping up with utility incentives can be a game-changer for energy engineers, building
auditors, and similar professionals. As the market shifts towards sustainability and energy efficiency,
staying ahead of the game with incentives can help you maintain a competitive edge and stay relevant in a rapidly changing industry.
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