Shared Savings program available to business customers
Lake Mills Light & Water is offering local business customers financial assistance to fund electrical energy efficiency upgrades through its Shared Savings program.
With funding provided by its nonprofit power supplier, WPPI Energy, Lake Mills Light & Water established the Shared Savings program to pay business customers upfront for up to five years of annual cost savings associated with energy efficiency projects. The advance payment will be used to cover the purchase and installation costs of the project. Customers will then repay the funding in monthly installments on their utility bills. In most cases, the energy cost savings will be greater than the monthly repayments, resulting in a positive cash flow for the customer.
Lake Mills Light & Water is offering the Shared Savings program to provide customers with additional opportunities to reduce energy costs. As a result, Lake Mills Light & Water will enhance the economic value of its membership in WPPI Energy and help businesses in Lake Mills improve the efficiency of their commercial facilities.
“Helping businesses save energy and money is good for the economic well-being of our community,” said Ben Dickson, Energy Services Representative. “Many businesses delay the replacement or improvement of inefficient equipment and building components because the initial purchase costs are perceived as an obstacle. The Shared Savings program helps our customers overcome initial cost barriers to making energy efficiency improvements in their facilities. Funding projects with advance savings can make expensive projects feasible for small businesses.”
Under the terms of the program, Shared Savings funding will include a two percent annual service fee, compounded monthly. Funding may range from $2,500 to $50,000 based on the cost of the improvements. Eligible customers must have three years of established bill payment history with Lake Mills Light & Water and pass a comprehensive credit review.
Lake Mills Light & Water will work with interested customers to identify eligible electrical energy-saving projects and complete the application. For additional guidelines and eligibility requirements, contact Ben Dickson at 920-648-4026 or firstname.lastname@example.org.