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Commercial Finance Support that Bolsters Xcel Energy’s Demand Side Management programs
Xcel Energy is one of the nation’s leading investor owned utilities (IOU’s) and ranks 5th overall in terms of annual savings from energy efficiency. Xcel Energy has a long history of providing demand side management (DSM) program to its ratepayers. In 2012, HB&C began a contract with Xcel Energy to assist in developing a finance program to support its DSM goals.
HB&C has performed a number of energy efficiency finance-related tasks under our consultation agreement with Xcel Energy over the past three years. Yet the experience of certain clean energy finance delivery market gaps, as a result of this engagement has become the reason we created our sister company, HBC Energy Capital.
HB&C spent time researching, gathering information and provided information to Xcel Energy regarding the needs and gaps, as they pertain to energy efficiency finance in the markets that they serve. HB&C’s research showed that a great number of financing products exist to serve the market, yet a gap existed when it came to connecting those financing products to specific projects. Contractors and project developers lacked the time and financing expertise required to decide on the right financing product from the right lender for any given project.
For years, HB&C helped Xcel Energy form relationships with existing capital providers serving the market to integrate financial products, such as loans and leases, with Xcel Energy’s contractors and program implementers. HB&C provided marketing support by drafting finance information for web and print, performing outreach to registered trade allies, and providing education to program implementers and internal DSM support staff. Yet the gap remained that projects in need of financing were not connecting with the many products and lenders set up to specifically serve the market.
In many ways, the engagement with Xcel Energy was the impetus for our formation of HBC Energy Capital, which we created to provide one stop shop energy efficiency financing concierge services to overcome market gaps. By acting as a conduit to multiple capital providers, and using project rebates to reduce monthly payments, HBC Energy Capital is able to provide trade allies with a simple financing offer to include in their bids. HBC Energy Capital works across a plethora of financing products, with multiple lenders providing bids to find the right financing situation at the best rates for any given product. HBC Energy Capital is rolling out its services in Xcel Energy Colorado territory-wide, as well as across 8 other states represented by 3 other utilities.
Interested in working with us or have a project you’d like to finance? Get Started now!
Our programs include: PACE, ON-Bill Financing, ESA/MESA Agreements,
Green Funds & Banks, and Sustainable Energy Utilities
Harcourt Brown & Carey (HB&C) is a national consulting firm with unrivaled experience maneuvering the clean energy marketplace. We deliver energy efficiency finance solutions that work in the real world.