Three Instant Incentives to Increase Business Savings
Cape Light Compact recognizes that the financial and operational impacts of the COVID-19 pandemic continue to be felt by businesses and residents of our local community. Temporary capacity and gathering limits, coupled with the inherent seasonality of many businesses on Cape Cod and Martha’s Vineyard, have led to unprecedented challenges for business owners. Of the approximately 400 Cape Cod business owners who were surveyed by the Cape Cod Chamber of Commerce and Cape Cod Commission in August of 2020, over 50% cited being open but in a limited capacity, and more than one-third of businesses anticipated being able to remain operational for only six months or fewer with their existing cash flow and reserves.
In light of these circumstances, the Compact has designed several limited-time, enhanced incentives to support businesses across the Cape and Vineyard with reducing operational costs. Energy-efficient technology provides an often over-looked, yet effective tool for reducing overhead expenses. Therefore, the Compact has worked with distributors to offer instant incentives on qualifying equipment, meaning customers will receive discounts directly at the time-of-purchase. In this blog, we’ll explore three types of high-efficiency equipment – lighting, HVAC, and foodservice – and the benefits that can result from upgrading to this technology.
Brighten Your Day with Efficient LEDs
Many businesses, such as storefronts, also often have lights on throughout the day. Therefore, lighting is a great place to start an efficiency upgrade. The Compact is currently offering instant rebates on a selection of LED lamps, fixtures, and lighting controls for both indoor and outdoor spaces at your business. Lighting control products, which can be integrated into LED fixtures at a low cost, utilize dimming, occupant control, or daylight sensing to lower energy costs. By converting your traditional light bulbs to LED lamps, your new fixtures will use up to 90% less energy and last up to 15 times longer.
Achieve Comfort with Updated Heating and Cooling Equipment
According to the U.S. EIA (Energy Information Administration), space heating is responsible for around 25% of the total energy consumed by commercial buildings. By choosing a high-efficiency HVAC system, the average commercial customer can save up to $2,600 in lifetime energy costs. The Compact currently offers incentives for ducted and ductless heat pumps so you can find the equipment that best meets your business’s energy needs. Heat pump technology offers the unique advantage of providing both heating and cooling for your place of business, often at a lower cost than traditional heating and cooling equipment.
Cook Out Energy Waste with High-Efficiency Commercial Kitchen Equipment
Most commercial kitchen appliances are very energy-intensive. In fact, food preparation and refrigeration, on average, account for a combined 41% of energy consumption in a restaurant. Upgrading a commercial kitchen to ENERGY STAR® certified equipment can lead to savings of up to $5,300 annually. Converting to higher efficiency commercial kitchen equipment can bring with it many added benefits too, besides just energy-savings. For example, new oven equipment often enables faster and more uniform cooking.
To help offset the upfront cost of purchasing this new technology, the Compact has increased its incentives on qualifying commercial kitchen equipment purchased through participating foodservice dealers. These direct incentives apply to dozens of items, such as high efficiency ovens, refrigerators, freezers, dishwashers, broilers, ice machines, and more. You can find more details on qualifying items through our Business Offers page.
Other Tips and Resources
If you’re not sure where to start or what equipment you need most, the Compact recommends you begin with our no-cost energy assessment. This assessment includes a visit to your business from an energy specialist and recommendations for energy-saving upgrades and relevant incentives. For a limited-time, the Compact is offering incentives up to 100% off the cost of recommended improvements. An energy specialist can also provide you with tips to optimize your equipment’s performance, including during unique circumstances like those posed by the COVID-19 pandemic where your energy use patterns may vary from their norm. To learn more about how the Compact aims to make your business as efficient as possible, check out our Business Resources page for detailed guides on ways to save energy.
Use Seasonality to Your Advantage
As we look toward several more months of winter and the “off-season” on the Cape and Vineyard, now is a great time to take advantage of these opportunities to work with the Compact. Because foodservice, HVAC, and lighting equipment can make up such a large portion of operating expenses, purchasing more energy-efficient equipment, with the help of our incentives and services, presents a key opportunity to reduce these costs. Don’t let these limited-time offers pass by, and instead get started today by calling 1-800-797-6699 or signing up online here.