PRESS RELEASE: Colorado Clean Energy Fund and National Energy Improvement Fund Partner to Finance LED Lighting for Colorado-Based Businesses at Below-Market Interest Rates
Leading Energy Finance Experts Partner to Offer Low-Cost Financing for LED Building Retrofits.
ALLENTOWN, PA, and DENVER, CO, July 14, 2023 —
Colorado Clean Energy Fund (CCEF) is partnering with the National Energy Improvement Fund (NEIF) to finance LED lighting projects for Colorado-based companies. Financing for commercial LED projects is provided by CCEF and program-qualifying updates are performed by NEIF-approved contractors through the NEIF portal.
This LED lighting offer is a limited-time opportunity for commercial businesses to take advantage of a low 3.45% interest rate for their lighting project. Because NEIF’s work spans nationally and CCEF is equipped with a niche knowledge of the Colorado market, the organizations’ collective mission is to cover more of the state and provide greater opportunities for commercial businesses to update their lighting.
For most commercial buildings, energy is the single largest operating expense. Businesses that upgrade to LED lighting are able to reserve working capital, receive tax deductions, access utility rebates and save money.
The partner program is especially advantageous for commercial entities in rural areas of Colorado with less access to financing, as well as nonprofit organizations who can now benefit from inexpensive capital—allowing them to save on operating costs and put more profit towards other ventures.
“Replacing outdated and inefficient lighting with the latest LED technology is one of the most cost-effective improvements a business can make to its building and operations—the financial payback is almost immediate,” said Paul Scharfenberger, CEO of Colorado Clean Energy Fund. “We’re excited to partner with the National Energy Improvement Fund and couple its contractor network with our attractive financing to provide energy bill relief to small businesses across Colorado.”
The commercial financing portal helps contractors lead with cash flow-positive monthly payment proposals to make attractive offers to consumers. The portal’s ease of use, security and efficiency expands the ability for commercial entities and nonprofits to take advantage of low-interest rates with just a few simple steps.
“We are excited to partner with the Colorado Clean Energy Fund to offer this unique, low cost lighting financing to the Colorado market. The monthly payments that this low-rate financing will provide should make investing in new, efficient lighting an easy decision for property owners,” said Matthew H. Brown, Co-Chair and Founder of National Energy Improvement Fund.
CCEF and NEIF are committed to providing financing solutions to businesses and contractors throughout Colorado by offering flexible terms and low interest rates. These loan terms will change after December 31, 2023. Visit the program page for more information.
About Colorado Clean Energy Fund:
Colorado Clean Energy Fund (CCEF) was born out of a three-year collaboration among the Colorado Energy Office (CEO), the Department of Energy (DOE), and the Coalition for Green Capital (CGC). This collaboration aligned to create CCEF with a shared belief that a specialized,
nonprofit intermediary was necessary to identify barriers to financing clean energy projects, bridge the gap between clean energy projects and traditional capital providers, and drive demand for these solutions by performing market engagement and development activities.
Former Colorado Governor John Hickenlooper announced the formation of CCEF in December 2018, following its incorporation as a 501(c)(3) Colorado nonprofit. CCEF then received its initial funding from the State of Colorado in 2021 after the passage of Senate Bill 21-230 (SB 21-30)
and its signing by current Colorado governor, Jared Polis. Learn more at www.cocleanenergyfund.com and follow the organization on Facebook, LinkedIn, and Twitter.
About National Energy Improvement Fund:
The National Energy Improvement Fund, LLC (NEIF) neifund.org is the nation’s only Certified B Corp™ lender specializing in improvements that make homes and buildings stronger, healthier and more energy-efficient, provided through a national network of contractors, manufacturers, utilities and governments. With a lending heritage dating to 1947, NEIF, founded as a benefit corporation in 2018, provides fair and transparent fixed point-of purchase financing for essential energy and resilience improvements like heating, cooling, roofing, insulation, lighting & battery storage. Founded by energy financing pioneers Peter Krajsa, Matthew Brown and Laura Nelson, the NEIF team has been responsible for over $800 million in financing. NEIF has completed over 12,000 energy upgrades to date. NEIF is supervised and regulated as a consumer lender and servicer in 26 states and operates a commercial financing platform nationally in partnership with 12 utilities. NEIF was named a Home Improvement Expert Partner by the U.S. Department of Energy in 2019.