CPA & Business Advisory Blog

Energy Save Ohio Helps Companies Decrease Their Energy Costs

First Energy, along with other electrical power generation companies throughout Ohio, is offering a significant rebate program called Energy Save Ohio.

This program offers incentives on the purchase of high efficiency equipment and other energy-saving measures. The main benefit is a pre-qualified, pre-approved rebate program, where by a lighting contractor will come in to your facility, perform an inspection of your current fixtures and bulbs, perform an analysis of the overall energy savings, and submit an application to your electrical provider for a rebate.  The key to the process is that the rebate dollars are physically segregated into separate accounts – this means that there is little risk that a company would invest in this type of infrastructure improvement, without realizing their expected returns.  Within weeks of the project being completed and passing the final inspection, the rebate check is issued.

Initial analysis of the program has shown that rebate checks of up to $500,000 have been issued already.  Coupling the rebate dollars, with the increased savings in overall energy costs, projects have been shown to have a repayment period of as little as eight months.

Have questions about Energy Save Ohio? Post a comment below or contact our Real Estate and Construction Group at 440-449-6800.

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