U.S. Virgin Islands
Beginning in May, businesses with electric usage of 30,000 kWh monthly or less can apply for admission to the program on a first-come, first serve basis. The program features a one-stop contracting process to analyze opportunities, project cost savings, and install energy-saving equipment to Territory businesses which own their buildings or have long term leases. Successful applicants will be eligible for a 40% rebate against the total cost of any project offering 15% utility savings or better.
The maximum rebate to any one customer is $80,000 (based on a $200,000 project). To qualify, businesses must provide in their application:
- At least the last 12 months of utility bills from WAPA;
- A building description, square footage, and a list of key energy efficiency improvements;
- A bank letter or bank balance statement demonstrating that the customer cost-share can be financed
Once reviewed and approved by the SEEA project administrator, the island-based energy services company selected to assess the building for cost-effective utility-saving opportunities will call to schedule an energy audit at a cost of several hundred to several thousand dollars, depending upon the size and complexity of the building. The audit fee to the applicant building is refundable and covered by the rebate as long as the customer goes forward with many of the measures recommended in the audit.
The rebate funds, provided from a DOE grant from ARRA dollars, are not expected to last beyond the fall of this year, so businesses should take advantage of this offer right away. While not available until this summer, there will be a SEEA-provided revolving loan program for customers denied approval by local banks, but otherwise acceptable credit risks. The loans will be structured such that annual savings meets or surpasses debt service obligations.
Renewable technologies are eligible for inclusion in the program, if energy efficiency measures are installed first.
