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Some utility service providers offer On-Bill Financing for businesses that utilize the utility service providers Rebate and Incentive Programs for energy efficient upgrades and retrofits. Utility service providers offer On-Bill Financing at a 0% interest rate to qualified customers. Below are some frequently asked questions regarding On-Bill Financing:

What is On-Bill Financing?
On-Bill Financing (OBF) helps qualified commercial and taxpayer-funded customers pay for energy-efficient business improvements through their utility service providers bill.

Who is Eligible?
Customers that are eligible for On-Bill Financing must meet the following criteria:

  • The customer must receive a rebate or incentive through the Utility Service Providers Rebate or Incentive program.
  • The customer must have had an active Utility Service Provider account for the past two years for the same business.
  • The customerís Company account must be in good standing
    • Customers must have at least two years of history at the service account
    • Customers cannot have any disconnect notices
    • Customers cannot have any 48-hour shut-off notices
    • Customers cannot have returned checks 2 months prior to loan agreement
    • Customers must not have had to post a deposit to establish or re-establish credit

Will On-Bill Financing Affect the Measure Rebate Amount?
Rebates and incentives awarded to customers who complete non-comprehensive projects will be reduced by 10%. Comprehensive projects are defined as two or more different end uses. End uses are categorized as Refrigeration, Lighting, Food Service, HVAC, etc.

How is the Loan Term Calculated?
The loan term for the project is determined by the repayment period of the equipment selected through the eligible program(s) and is calculated based on estimated annual energy savings not to exceed the maximum loan term. Loan funds must be used for the purchase and installation of qualifying energy efficiency measures.

What are the Loan Limits?
The project cost (after reduced rebates or incentives are applied) must be a minimum of $5,000. Loan maximums per meter are:

  • $100,000 for business customers with a 5-year maximum loan term
  • $250,000 for tax-payer funded customers with a 10-year maximum loan term

What are the Loan Terms?
0% interest - 5-years or Not-To-Exceed Extended Useful Life for Business Customers.

Estimate OBF Calculations - SAMPLE

Project Upgrade Costs$23,314.00
Rebate/incentive amount$5,856.00
10% OBF Reduction (if applicable)$585.60
Loan Amount$18.043.60
Estimated annual savings for retrofit$15,586.62
Simple payback period (ROI)14 to 16 months
On-Bill Financing loan installment1,127.72 to 1,288.82