March 28, 2014: New $10 Million Fund to Finance Energy Storage Projects
TIP Capital and Green Charge Networks to Offer Zero-Down Financing
BLOOMFIELD HILLS, Mich., and SANTA CLARA, Calif. — TIP Capital, a leader in equipment financing and asset management solutions, and Green Charge Networks (GCN), a provider of intelligent customer-sited energy storage, have announced a program to offer zero-down financing for GCN’s retail, municipal, and industrial customers. The initial commitment will consist of a $10 million fund dedicated to zero-down energy storage financing.
TIP Capital has developed an energy efficiency financing program that allows building and property owners to leverage their utility savings to earmark for TIP Capital’s fixed rate monthly financing payments for HVAC upgrades, lighting retrofits, energy storage, and other qualified energy efficiency projects.
“With Green Charge Networks’ savings track record for their customers and pipeline of deals, TIP Capital is excited to be partnered with GCN,” said Ross Reida, vice president of national accounts for TIP Capital. “Our flexible programs will allow GCN’s customers to pay $0 down, provide energy savings above what they pay, and protect against rising demand charges.”
“For buildings to be more power efficient and to optimize the potential for environment benefits, intelligent energy storage must be financially affordable and accessible for business owners,” said Brian Asparro, CFO for Green Charge Networks. “Through GCN’s GreenStation™, building owners can save 15 percent or more on their electric bills.”
Publication date: 3/24/2014