On September 2, 2015, Virginia Governor Terry McAuliffe announced a $20 million program to improve energy efficiency in Virginia. The VirginiaSAVES program is designed to reduce the cost of qualified energy efficiency projects through repurposing of unused Qualified Energy Conservation Bonds assigned to the commonwealth in 2009.
Southland successfully captured the first award under the VirginiaSAVES program for a private school client in central Virginia. By teaming with the school’s finance, facilities, and operations staff, Southland developed a holistic solution for the school’s end-of-life equipment needs in their older buildings. The project provides infrastructure renewal across multiple campuses and leverages the VirginiaSAVES program, utility rebates, and efficiency enhancements to fully offset the project’s costs.
For facility owners that are interested in securing VirginiaSAVES funding for their project, projects must be performed at commercial, industrial, institutional or municipal facilities in Virginia. Eligible improvements include:
- High-Efficiency HVAC Upgrades and Replacement
- LED and High-Efficiency Lighting
- Building Automation and Controls
- Retro-Commissioning and Optimization
- Building Envelope and Weatherization
- Distributed Energy Generation (solar, wind, cogeneration, biomass)
Projects must use proven technologies, achieve simple payback targets, and be installed by a qualified contractor.
Southland Energy is currently offering no-cost assessments to prospective clients interested in determining their eligibility for program funding. Through VirginiaSAVES and similar programs, many facilities can now complete projects with zero up-front investment and a net-positive impact to the operating budget.
Southland Energy’s innovative project finance expertise adds value for our clients through capturing grants, rebates, and incentives while leveraging low-cost financing and guaranteed energy savings. This development strategy when combined with Southland’s design, build, maintain expertise allows clients to implement innovative and fully self-funding facility improvements while eliminating the need for up-front capital investment. In many cases, the improvements save significantly more than they cost and thereby deliver positive annual budget impact along with improved system performance.
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