With the worsening and widespread effects of climate change, it has never been more important to take action that ensures a sustainable future for our environment. Energy efficiency upgrades can make a huge difference by reducing carbon emissions, promoting renewable energy sources, and protecting natural resources. However, these upgrades often require significant investment, which can be a challenge for any business. At WiseCap, we understand the limitations of cashflow. Our commercial financing experts work with clients to secure the working capital they need to make important changes, both for their businesses and the planet. In this blog post, we will explore how commercial financing can facilitate sustainability projects that reduce energy consumption, cut costs, and create a better future for our environment.
Commercial Financing & Sustainability Projects
Commercial financing is a type of loan that allows businesses to acquire things like equipment, machinery, supplies, inventory, and real estate, with the express goal of increasing their profits. This type of financing differs from consumer financing in that it typically involves much larger loans, which are secured by collateral. Commercial financing agreements also generally last longer periods of time and carry lower interest rates than consumer loans. By harnessing competitive rates and longer repayment terms to secure the capital needed to make large upgrades, commercial financing can offer a lifeline for businesses looking to fund sustainability projects. Furthermore, it can allow business owners to take advantage of favourable tax rules and the growing number of government incentives around energy efficiency. Ultimately, commercial financing can play an important role in helping businesses achieve their sustainability goals, while also providing them with flexibility and financial security.
What Types of Upgrades Can I Make?
Commercial financing can be used to make a variety of impactful upgrades in your workplace. Lighting retrofits, for example, can be an important step toward both energy efficiency and cost savings. By upgrading to more efficient lighting technologies, such as LED lights, you can significantly reduce your energy consumption and thus, the greenhouse gas emissions of your business. In addition to helping the environment, reduced consumption leads to lower electricity bills, while LED lights also have a longer lifespan than traditional lighting options, meaning reduced lighting maintenance costs over time.
Installing solar panels, meanwhile, is a smart investment for business owners looking to reduce their carbon footprint, save money on energy bills, increase the value of their property, and achieve energy independence. In addition to those cost savings, solar panel technology can actually allow you to sell excess energy back into the grid for profit. What’s more, financing solar technology allows you to access a litany of government incentives and tax credits, meaning solar energy has never been a more accessible option for your business.
Commercial financing can also be used to upgrade your Heating, Ventilation, and Air Conditioning (HVAC) systems, resulting in a number of positive impacts. Firstly, newer systems are more energy-efficient, which translates into reduced emissions and lower heating costs. Additionally, proper ventilation provided by an HVAC system helps control indoor air quality and reduces the number of pollutants that can accumulate indoors. By improving air circulation and reducing the concentration of harmful particles in the air, you are contributing to a healthier living environment for your team.
Contact WiseCap Today to Learn More
Financing energy efficiency upgrades makes for a smart business investment. By improving your energy efficiency and reducing greenhouse gas emissions, you are contributing to a healthier environment for yourself and future generations. Doing so also lowers your monthly utility bills, creating significant cost savings in the long run. Commercial financing through WiseCap leverages competitive rates and repayment terms to enable you to make big changes that can otherwise be too expensive to afford outright. This allows you to take positive action for the future of our environment without delay while creating savings for your business in the short and long term.
At WiseCap, we work with a variety of lenders and can find the right financing option to fit the needs of your business. Contact us to learn more today!