Energy Smart Launches New Financial Incentive Structure For New Orleans Commercial Businesses

Press release from the New Orleans Chamber:

February 23, 2022

Energy Smart, the comprehensive energy efficiency program developed by the New Orleans City Council and administered by Entergy New Orleans, has implemented a new bonus incentive structure that offers companies more money the earlier they apply to complete energy-saving facility upgrades in 2022.

The ‘step-down bonus’ provides different quarterly bonus incentive levels to help business customers make energy-efficiency upgrades to their buildings or facilities and is available for new projects submitted and approved during the first three quarters of this year. The bonus incentive rate is based on the quarter in which a company’s application is approved, with the highest project cost savings going to businesses that apply and are approved now through March 31.

“We’re encouraging all commercial customers seeking to make energy-saving upgrades this year to apply now in order to secure the most money for their project,” said Derek Mills, manager of Entergy New Orleans' demand-side management programs. “By locking in now, before March 31, you will receive the higher bonus and have until December 31, 2022 to complete the project.”

Following application approval, program participants will have until December 31 to complete projects in order to receive their bonus incentive at the locked in rate. The 2022 ‘step-down bonus’ offers a 25% bonus rate for projects approved during the first quarter, 15% during the second quarter and 5% during the third quarter. These bonus incentives are in addition to the standard cash incentives offered by the program for approved energy-efficiency projects and are applied to the overall total project incentive.

“Don’t delay those projects,” Mills says. “This is a great opportunity to prioritize energy-saving upgrades, reduce long-term operating costs for your business and take advantage of the $6.3 million in available incentives from Energy Smart this year.”

Commercial businesses interested in learning more or applying should visit the Energy Smart website or complete this form to receive a call from an energy advisor.

This press release was produced by the New Orleans Chamber. The views expressed here are the author’s own.