3 min. read
Our Expert Insights series brings you real-world perspectives from our Commercial Markets experts on navigating energy upgrade and transition decisions.
In this video, Sheilla Hadayat, Grands and Incentives Manager, Commercial Markets, overviews how incentive programs can make energy projects more financially possible, but the most common pitfalls commercial businesses make during that process.
Watch the full video or read the transcript below.
Q: Why do incentives matter for energy project decision making?
SH: My name is Sheilla Hadayat. I’m the grants and incentives manager at SitelogIQ.
Incentive planning is crucial because when it comes to energy efficiency projects, we can actually show you what the energy savings would be if you were to upgrade your lighting systems and controls.
When it comes to EV projects, if you capture the funds early on, it’s substantial versus waiting and potentially not having those funds available anymore.
Q: Why do organizations typically explore incentive programs?
SH: The driving factor of an organization moving forward with an incentive is typically when they’re able to see how much an incentive will help offset their costs. And that allows them to justify using their budget upfront to work on this project and to move forward with the project.
Q: What are the risks of waiting on an incentive program application?
SH: The risks for waiting too long for incentives, and we’ve seen this happen in the past, is there were lots of incentives available to make upgrades, and now they [have] become the norm. So, the funding doesn’t exist the same way it did 15 years ago. We are going to see that same trend with EV.
Eventually it’s going to be an amenity that everybody wants and the programs that are offering these incentives will not feel the need to fund this anymore because it’s standard. So, it’s important to act now when incentives are higher versus waiting when it’s required of everybody.
Q: What are the most common mistakes organizations make when approaching incentive programs?
SH: The most common mistake I have seen organizations make when it comes to incentive is waiting for an additional round to open up or believing that a new round of funding will open up. But sometimes when a program closes, it’s done. There is always the option of being put on a wait list, but that’s not guaranteed.
Q: How does SitelogIQ help with incentives?
SH: That’s why we bring the program to you as soon as we hear about it, as soon as we know it’s opening so we can apply for those funds for you or work with you to get your application in.
SitelogIQ is there to alleviate that administrative burden when it comes to incentives. We have captured millions of dollars of funding. We’ve worked with utility providers. We’ve worked with state and federal level programs. We understand what’s needed and what is required. And we want to capture incentive dollars for your project.
SitelogIQ is your one-stop partner for energy efficiency, renewable, and electrification solutions. We handle all project steps, from design and installation, through incentive management. Let’s see what opportunities you have to reduce your energy costs and usage.