Energy Efficiency Financing
Working with you and your energy efficiency supplier, Barrett Capital underwrites the financing. And, since the savings represent the source of repayment, Barrett Capital can independently verify and monitor your savings initially and throughout the term of the contract. In addition, Barrett Capital provides assistance to customers in searching for grants, rebates (state and/or utility-funded), and subsidized financing programs that offer below-market interest rates. Barrett Capital is a Participating Lender with New York State’s Energy Research & Development Authority (“NYSERDA”) in connection with the Green Jobs Green NY (GJGNY) Financing Program and NYSERDA incentive financing and is a Lending Partner with the New York City Retrofit Accelerator.
Types of Energy Efficiency Projects
Barrett Capital funds and finances all types of energy efficiency and infrastructure projects. Among the leading energy efficiency projects we finance are:
- Lighting Retrofits
- Boiler Conversions
- Fuel / Gas Conservation Systems
- Combined Heat & Power (Cogeneration) Systems
- Water Conservation Systems
- Building Management Systems
- Master Meter / Sub-meter Systems
- Demand Response
- Energy Management Systems
- Building Controls
- HVAC Upgrades
Barrett Capital understands that energy upgrades and retrofits can translate into millions of dollars in capital expenditures, which amounts you may be reluctant to spend or, for which you are unable to gain “capex” approval from top management or existing lenders. So Barrett Capital offers all types of funding structures to enable you to achieve substantial savings with no upfront costs, including:
Senior Loans – Underlying Mortgages and Condo Association Loans
Junior Loans – Lines of Credit and Unsecured Financing
Leases – Capital and Operating Leases
Shared Savings Plans – You share in the savings with no risk or up-front costs.
Barrett Capital’s Shared Savings Plans provide that savings are shared from the beginning. You immediately start saving from our energy savings arrangement. And, for your benefit, Barrett Capital will independently verify the projected savings.
Power Purchase Agreements – Performance based service contracts that convert the savings derived from reduced energy consumption into dollar savings
Barrett Capital’s shared savings plans offer a pay for performance solution to reduce your energy costs. We have created a performance based service contract that uses the savings derived from the implemented energy savings measures (“ESM’s”) to cover the cost of the energy efficiency undertaking. All project costs, including ESM’s, design, materials and equipment, implementation, maintenance, verification and monitoring are covered.
Barrett Capital’s shared savings plans provide that excess savings above a specified level are shared with you, the customer, from the beginning. In this manner you immediately start to benefit from the energy savings arrangement. And, Barrett Capital brings in an independent engineer to verify and insure that the projected savings will be realized.
After Barrett Capital has recovered its contracted amount, all of the ongoing savings can accrue to you through an option to buy the ESM’s at a set price or at a favorable fair market value. One of the side benefits of shared savings plans is that, unlike straight financing, these service contracts are not required to be included as liabilities and, therefore, are considered “off balance sheet” financing, even under the just released new accounting regulations.
Work with an analyst team that understands every client is different. Barrett Capital proudly provides tailored energy efficiency financing assistance to companies nationwide.