Commercial Questions

Call an EnergyWorks representative at (215) 496-8157 or email us at chollinger@pidc-pa.org and we will respond to commercial inquiries within 24 hours.  

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Commercial FAQs

What types of building energy loans are available?

We offer construction loans, term loans and lease financing. Loan amounts will generally be between $100,000 and $2,500,000 or more.

What kinds of projects are eligible for financing?

Almost any project has the potential to be an energy project. If you are upgrading your building and thinking about HVAC, lighting, insulation, or other common capital issues, you could be eligible for an EnergyWorks loan. Likewise, if you are considering replacing a major piece of equipment, like an elevator motor or a chiller, you may also be eligible for financing from EnergyWorks. Generally, eligible projects fall into one of the following categories:

  • Single or limited energy retrofits or the replacement of a single piece of equipment or system
  • Extensive whole building energy retrofits
  • Energy efficient gut rehab of an existing building
Who is eligible for a building energy loan from EnergyWorks?

EnergyWorks can provide financing to commercial, nonprofit, government, multifamily residential, and industrial entities throughout the Greater Philadelphia region (Bucks, Chester, Delaware and Montgomery counties and the City of Philadelphia). Applicants may include building owners, developers, or commercial tenants.

How does getting a building energy loan benefit my business?

EnergyWorks provides low-interest commercial building loans to help businesses economize energy use, allowing you to bring more of your resources to what you do best while sending a powerful message to your customers that your company is both concerned and cutting edge. Investing in energy efficiency improvements can help your business to:

  • Reduce operating expenses: Energy use is the single largest operating expense in commercial office buildings, representing approximately one-third of typical operating budgets. Making energy efficiency retrofits directly lowers operating expenses and mitigates the risk associated with rising energy costs. Our experts will work with you to develop a plan that will cut your energy use by a minimum of 25%.
  • Increase property value: Energy-efficiency improvements increase net operating income and asset value. According to ENERGY STAR, a 10 percent decrease in energy use could lead to a 1.5 percent increase in net operating income (NOI), and the potential to increase NOI even more as the energy savings grow. For example, in a 200,000-square foot office building that pays $2 per square foot in energy costs, a 10 percent reduction in energy consumption can translate into an additional $40,000 of NOI. At a cap rate of 8 percent, this could mean a potential asset value boost of $500,000!
  • Increase comfort: Independent studies prove measureable benefits such as quiet office spaces improve employee productivity, and energy efficiency improvements that increase natural daylighting can lead to decreased absenteeism and higher productivity.
  • Demonstrate your leadership in sustainability: Energy use in commercial office buildings accounts for almost 20 percent of the nation’s annual greenhouse gas emissions. Making energy saving improvements helps businesses to reduce pollution and greenhouse gas emissions that contribute to global warming and meet environmental responsibility goals.
  • Take advantage of tax incentives and rebates: Energy measures that reduce your electricity consumption could be eligible for a rebate from PECO. Check with their Smart Ideas program to learn about potential grants for your project. Energy efficiency projects may also be eligible for federal tax credits such as the energy-efficient commercial buildings tax deduction. Visit the DSIRE website to learn about federal, state and other incentives for your project.
What are the terms of a building energy loan?

The term of the loans will be consistent with the life of the improvements financed, up to 10 years. Interest rates on an EnergyWorks commercial loan are as low as 3.5%. Your rate will be set based on the lien position of the loan, the strength of the credit, the loan-to-value ratio, the strength of the collateral and other factors. Loans will be secured by the assets being financed or other such collateral, including personal and corporate guarantees.

What kinds of rebates and tax credits are available for business owners?

Energy measures that reduce your electricity consumption could be eligible for a rebate from PECO. Check with their Smart Ideas program to learn about potential grants for your project.

PGW'S ENERGYSENSE program also has rebates and conservation options. Learn more at http://www.pgwenergysense.com/forbusinesses.html. Commercial customers of PECO gas in the suburbs are eligible for rebates for boiler and furnace replacements at www.peco.com. Energy efficiency projects may also be eligible for federal tax credits. Visit the DSIRE website to learn about federal, state and other incentives for your project.

How do I apply for a building energy loan?

If you are thinking about an EnergyWorks loan, either to fund a stand-alone energy project or to help finance a larger project, contect Chamor Hollinger at 215-496-8157 to explore your options. We will be happy to talk with you about potential projects and help get you started.

If you already have a sense for what you might like to do to, simply complete the Initial Financing Request form and send it to the email address indicated. An EnergyWorks representative will reach out to you within 48 hours to discuss your project.

Finally, don’t be intimidated by the need to do engineering and analysis to get ready for an energy project. We have experts on staff who can help you with those services at a greatly-reduced rate. To find out more, call us at 215-496-8157  or send in your initial financing request.

How long will it take to receive a building energy loan?

Like all commercial lending, the length of time from application to loan varies depending on the status of a project when the application is submitted. More developed projects can be approved within four to six weeks, while those that require additional scoping may require several months.  An EnergyWorks representative will contact you as soon as we receive your Initial Financing Request Form and, once we have the basic information on your project, we will be able to tell you more about what a likely timeline is for your circumstances.