Austin, TX – Noesis, the tech-enabled lending marketplace for financing energy-saving commercial building improvements, worked together with Enviro-Lite Solutions, a leading Texas-based LED lighting company, to get approval on a significant municipality LED retrofit project. The two companies partnered to help Donna, TX migrate its outdated lighting infrastructure to more energy-efficient LEDs, which is expected to generate $140,000 in savings in the first year.
Experienced in selling to municipalities, Enviro-Lite understood the challenges in securing city council approval on measures with energy efficiency (EE) upgrades. EE projects are typically opportunistic and not focused on fixing broken equipment, so winning city approval can be difficult despite the cost and energy savings.
“We evaluated many opportunities to improve our infrastructure and our community by providing more energy efficient lighting throughout the city,” said Sonia Gallegos, mayor pro-tem, Donna, TX. “The City ultimately approved the project because Enviro-Lite and Noesis took the time to understand our specific financial needs and developed a lighting solution that best suited our city.”
Noesis provided Enviro-Lite with a proposal that included three features that were important in securing this LED retrofit project with the Donna City Council.
1. Long-term municipal lease with attractive rate that is cash flow positive
2. Noesis’ Performance Rebate that provides cash back if the first year savings fall short
3. Coordinated presentation and pre-approved financing – combined project with financing decided with one vote, not two
As a further benefit, Enviro-Lite worked with the local utility, AEP, to secure a $47,000 rebate for the LED retrofit project, allowing the city to include an additional $50,000 in lighting without adding to the total project cost. These additional fixtures will be installed in parks and other areas that are currently without lighting.
“City and municipal projects vary greatly from most commercial projects and a one-size fits all approach simply does not work when seeking approval for these types of upgrades,” said Scott Harmon, chief executive officer of Noesis. “Noesis worked alongside Enviro-Lite to create a tailored proposal that included a detailed business case justifying the City’s investment combined with pre-approved financing.”
Noesis is a specialty online lending marketplace that helps the commercial building owners increase the value of their buildings. It does this by helping them make informed investment decisions in energy-related equipment, such as LED lights, and providing financing to upgrade their buildings, generate additional cash flows and increase property values. Noesis meets the needs of the owners of the 5 to 7 million non-residential buildings in the US through in-house project financing expertise, proprietary project valuation technology and a range of innovative financing vehicles.
Noesis is used by local and national commercial building owners, as well as over 200 US commercial equipment and services companies who use the Noesis platform and lending marketplace to help them win more of their project proposals and grow their business.
ABOUT ENVIRO-LITE SOLUTIONS
Enviro-Lite Solutions is a turnkey LED lighting company that focuses on helping municipalities, school districts, counties and commercial facilities save money, and help the environment, by converting old inefficient lighting technology to state of the art LED lighting. Enviro-Lite Solutions offers a free audit and analysis so their clients understand how much they can save in energy costs and what rebates and tax deductions are available to them. With a proven, documented track record Enviro-Lite Solutions has helped clients save up to 25% on energy bills without increasing their current budget, and get thousands of dollars in rebates and tax deductions. To learn more about the many advantages of LED lighting, visit their web site at: www.enviro-litesolutions.com.
Locate networks & distributors in the LEDs Magazine Suppliers Directory
Submit new products, case studies/projects, and other press releases at http://www.ledsmagazine.com/content/leds/en/addcontent.html.
More from Noesis:
Noesis reports lighting upgrades as top energy project trend
Noesis financing service facilitates Titan LED commercial lighting project deals