Austin Energy Rebate Incentive
Why is Austin energy giving my business a rebate for installing PEAK+ adiabatic cooling technology?
Because the City of Austin has high-priced energy for electricity on the hottest days of the year, Austin Energy is offering substantial rebates to customers who make energy efficiency investments to reduce peak energy demand, like installing the PEAK+ adiabatic cooling system on your commercial air-cooled HVAC equipment.
In 2019, Austin Energy issued a $300,000 rebate, its largest in 10 years, to Riata Corporate Park, an eight-building, 61-acre office campus in North Austin, for retrofitting its air conditioning system with PEAK+ adiabatic cooling, improving the comfort of its tenants and their employees and cutting electricity consumption statewide on the city's hottest days. The retrofitting was estimated to save Accesso $15,800 monthly or $190,000 annually off their energy bill.
To understand the financial impact of the Austin Energy rebate program, we must discuss the two ways commercial business are charged by the City of Austin utilities. Commercial electricity is based on two measures: consumption & demand. Consumption is based on the amount of electricity the building consumes during a month, measured in kilowatt-hours (kWh). Demand is the peak energy use at one time, measured in kilowatts (kW). Demand charges range from $8-40 per kilowatt per month, which represents almost 75% of the entire utility bill. When building owners and facility managers are striving to improve the efficiency of the building, they must consider reducing peak demand to be of upmost importance.
Almost 75% of a commercial building’s energy bill is due to the peak energy demand the building requires. What is the single biggest driver of peak energy demand on a commercial building? Your HVAC system. How do you reduce the peak energy demand of your commercial HVAC system? PEAK+ adiabatic cooling system is your energy-saving solution.
When the outside air temperature increases, the air conditioner works harder to cool the incoming air, using more electricity and elevating head pressure inside the compressor. PEAK+ adiabatic cooling system modernizes your HVAC system by cleaning and cooling the intake air flowing into the condenser coils. Ultimately, the Peak+ reduces peak energy demand, protects HVAC compressors and coils, extends the life of equipment, and most importantly, saves building owners a substantial amount of money.
The best time to invest in an energy efficiency technology for your building is…NOW. In an increasingly competitive commercial real estate market, buildings with high energy performance outpace their neighbors on operating expenses, rent premiums, occupancy, and asset value. By significantly reducing utility costs, upgrades result in dramatically increased NOI and drive new revenue that is capitalized into increased asset value.
If you are in the planning and design phase of your project, we encourage you to reach out to your PEAK+ Account Executive and an Austin Energy representative to ensure the best possible New Construction Rebates, like the Peak+ demand reduction incentive, for your new facility.
Contact Kelley Klingaman, Texas Account Manager with PEAK+, at kklingaman@peakplus.energy to help estimate your dollarized energy savings and rebate or request a quote here!
