For those of us in the building industry, we know new buildings have strict building guidelines to create more sustainable and efficient communities. Groups and organizations around the world are working toward more sustainable building practices and incentive programs have been put in place to encourage building owners and companies to build better buildings for the overall health and wellness of our communities. One such incentive program has recently been released from Indiana Power and Light (IPL), an AES Company. This new incentive offers savings for strategic building and sustainable efforts. We’ll break down the specifics of the new incentive program, help you identify ways to utilize these savings, and give you the resources to get started!
What is the IPL New Construction Incentive Program?
The IPL new construction incentive program is designed to reward efficient building. You can earn up to $100,000 in incentives for your new project when designed to exceed Indiana’s state energy code requirements. The program was created to help new builds succeed in earning these incentives by providing program engineers to work with you every step of the way to maximize your energy savings. Opportunities for earning initiative compensation include energy savings in lighting, HVAC, reduced air leakage, building envelope components and more.
What are the financial details?
IPL released information about the incentive program and details of the savings. Through the program, you can earn $0.08 per kWh saved. This incentive is based on the projected first-year savings of the new project. These projections are based on the processes and materials used in the build. One way to help build your first-year savings is with a team of professional third-party inspectors who can give guidance on better opportunities for energy savings, and detail the energy efficiency of the building. To be eligible for the program, the project must be in the design phase and must exceed minimum building code standards as set by the state of Indiana.
Do I Qualify?
Not all new buildings will qualify for this incentive program, so it is important to understand the requirements, strategy to meet the requirements, supporting documents required and more to benefit from the program. Meeting the requirements is only part of the process for the IPL New Construction Incentive Program. You will also need to apply for the program and work with IPL to secure authorization to benefit. The application for the program can be found in the information document here Download IPL Incentive Program Details. While the new incentive program is the topic of today’s blog, be sure to get more information and see if you qualify for other programs.
How do I get started?
Your first step is taking a close look at your plans for your new commercial building and identify which upgrades will have the biggest impact on your energy efficiency. Building Envelope Allies can help you create a plan to reduce the air leakage in your building and demonstrate that reduced air leakage to qualify for a rebate.
You will want to enlist the help of other skilled professionals to help you decide how and where you can implement upgrades to reduce overall operating costs. Once you have decided how you are going to reduce energy consumption, you will want to verify how these savings will look for the first year and start compiling all of the documentation you might need for approval. Once IPL has your application, you will receive a letter of intent. This serves as both the green light for the project and the incentive amount reserved for your project.
It’s important to have the proper inspections and evaluations done on your building, just like in any build, but critical to proving the building does reduce costs and is more energy efficient to ensure you receive your incentive.
As more builders and owners look toward more energy-efficient alternatives, companies and organizations see an opportunity to further those efforts with incentive packages like this one. When starting a new commercial build, be sure to talk through your options, look for incentive opportunities, and talk with professionals who know how to help you achieve your goals. Are you thinking about a new commercial build? Our team of professionals can help you with your inspection needs and offer expertise in energy efficiency. We’re standing by ready to help! Read the details of the IPL energy program and give us a call to see how we can help!