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Incentive Program Monitoring Nets Additional $1.3 Million Annual Savings

Incentive Program Monitoring Nets Additional $1.3 Million Annual Savings
Issue:
EnergyWatch assisted a financial services firm in receiving an energy incentive program that resulted in savings of an average of $3 million per year. While tracking the savings, EnergyWatch noted that after the first few years the savings were deteriorating.
Result:
EnergyWatch moved the client to an alternative incentive program and the client gained an additional $1.3 million of savings per year vs. the original program.

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Details:
The client was eligible for two different incentive programs, but would be allowed to receive the benefits consecutively, not in combination. EnergyWatch assisted the firm in receiving the program that would render the greatest savings — an average of $3 million per year during the first few years of the program. EnergyWatch was retained to track those savings and make a recommendation as to when (and if) to switch to the alternative program. The switch to the alternative program was dependent on a number of market factors. By monitoring the market and communicating with the various city and governmental agencies managing the programs, EnergyWatch was able to advise the client as to the optimal timing to switch programs and assist with the necessary documentation. The client saved an additional $1.3 million per year.