Why should you consider updating your HVAC and refrigeration equipment?
There are several reasons why you may want to consider updating the HVAC and refrigeration equipment at your business:
Improved energy efficiency: Older HVAC and refrigeration equipment may be less energy-efficient than newer models, which can result in higher energy bills. Updating to newer, more energy-efficient equipment can help to reduce energy costs and save money over time.
Improved comfort and indoor air quality: Newer HVAC equipment can provide better temperature control and air circulation, which can improve the comfort of your employees and customers.
Improved food safety: Newer refrigeration equipment may include features such as temperature alarms and monitoring systems that can help to improve food safety by ensuring that food is stored at the proper temperature.
Increased reliability: Older HVAC and refrigeration equipment is more likely to break down and require repairs, which can be costly and disrupt your business operations. Updating to newer equipment can increase reliability and reduce the risk of unexpected downtime.
Enhanced appearance: Newer HVAC and refrigeration equipment can have a more modern and attractive appearance, which can improve the overall look of your business.
What incentives are available to update HVAC and refrigeration equipment?
Incentives to update HVAC and refrigeration equipment are available from utility providers, various government funded sources and local grants to encourage business growth.
Utilities often incentivize upgrades to more energy-efficient equipment as a way to encourage energy conservation and reduce energy demand. These incentives can take the form of rebates, grants, or other financial incentives that are designed to make it more affordable for businesses and homeowners to upgrade to more energy-efficient equipment. By encouraging the use of more energy-efficient equipment, utilities can help to reduce overall energy demand, which can help to prevent the need for new power plants and other expensive infrastructure projects.
Government funded programs mainly supported by the Department of Energy, provides financial assistance or incentives to businesses to upgrade their equipment to more energy-efficient versions.
There may also be a number of local grants available to small businesses that are looking to replace equipment, depending on the location and industry of the business. Some potential sources of grants for equipment replacement include:
Local government agencies: Local government agencies, such as city or county economic development departments, may offer grants to small businesses to help them upgrade or replace equipment. Local government agencies offer these types of grants to help create jobs for local contractors, reduce energy costs and help businesses be more competitive in their market and to improve air quality and food safety for local residents.
Industry associations: Industry associations related to your business may offer grants or other financial assistance to help businesses upgrade or replace equipment.
Nonprofit organizations: Nonprofit organizations, such as Chambers of Commerce or small business development centers, may offer grants or other financial assistance to small businesses to help them upgrade or replace equipment.
How to find grants and incentives to upgrade HVAC and refrigeration equipment?
To find grants and incentives for equipment replacement, you can start by searching online and contacting local government agencies, industry associations, nonprofit organizations, and private foundations to see what opportunities may be available. You may also want to speak with your local small business development center.
There are several ways to find local incentives to update HVAC and refrigeration equipment:
Check with your local utility company: Many utility companies offer rebates and incentives for energy-efficient HVAC equipment as a way to encourage energy conservation. You can check with your local utility company to see what incentives are available.
Search online: There are several websites that list local, state, and federal incentives for energy-efficient HVAC equipment. Some sites to try include Energy.gov and DSIRE (Database of State Incentives for Renewables and Efficiency). There may also be provisions in the Inflation Reduction Act that might be applicable to your small business. Follow this link to learn more.
Contact your state or local energy office: State and local energy offices may have information on available incentives and can often provide guidance on how to apply.
By taking advantage of local incentives, you may be able to offset some or all of the costs of updating your HVAC equipment, making it more affordable to make energy-efficient upgrades.
How can Monaire help?
Monaire can do the work for you to find grants and incentives to help you upgrade your equipment. In many cases, Monaire has been able to help customers get 100% of their upgrade costs covered via such grants.
In addition to securing you grants and incentives to upgrade equipment, Monaire's monitoring platform can help you maintain your equipment and run it efficiently, helping you to reduce energy costs, avoid downtime and save on repairs.