Exploring Innovative Financing Models to Fuel Energy Infrastructure Modernization
Across the United States., there is a push to modernize infrastructure for efficiency and resiliency. In New York City, the need to refurbish and rebuild aging energy systems and transportation networks is evident. New York City is America’s most densely populated city and a nexus of technology, finance, healthcare, media, education, and more. As a result, everything in New York City is highly scrutinized in the U.S. and around the world. As the city has grappled with the consequences of climate change and extreme weather events, it has shown leadership creating a path for a more energy-efficient and carbon-neutral future. The Climate Leadership and Community Protection Act (Climate Act) of 2019 was a landmark measure for setting a path to slow the impact of climate change.
Many companies, facilities, and organizations want to modernize and update energy installations for efficiency and sustainability. However, many lack the financial resources for the large capital outlays required to fund these projects. But there are alternatives to traditional financial approaches, such as debt and leasing. Energy-as-a-service or energy service agreements are innovative new models, allowing organizations more freedom to pursue these projects now. Keep reading below as we explore these flexible funding models for energy modernization projects.