Looking for payment options?
Here is an overview of different payment options to take advantage of.
Option 1: Cash. You buy the upgrades outright and get all the savings. We cover installation, warranties and applicable energy monitoring. You manage available tax credits or rebates. Note: these can be very tricky and difficult to manage.
Option 2: Loan. You get a bank loan to invest in the cost of the system and save over time. With a $0-down payment, simply pay for your upgrades every month at a low, fixed cost. We cover installation, warranties and applicable energy monitoring. 3fficient offers up to 60 days no interest loans for online purchases, available at checkout.
Capital loans will affect your credit rating. Some government-backed loans, such as PACE, are off balance sheet but still affect your credit. PACE loans can provide up to 10% of the appraised property’s value in funding and “green” upgrades. When you sell the property, remaining finance payments are added to the property tax (and no longer your responsibility). This may be undesirable for future property buyers.
Option 3: Lease. 3fficient can help you arrange a low, fixed monthly payment with predictable costs and consistent savings. Choose to prepay your lease partially, or in full for added savings. We cover installation, warranties and energy monitoring. Note: Cities and other public agencies routinely use municipal leases. A capital lease will affect your credit rating.
Option 4: Energy Services Agreement. 3fficient can help you get a low, fixed monthly payment with predictable costs and consistent savings. We cover installation, warranties and system monitoring. Options include: energy, power, lighting, comfort or comprehensive energy savings as a service. Note: this will not affect your credit rating as this method is truly off balance sheet since the “assets” are owned by a third party entity and professionally maintained by 3fficient. See Steps for securing ESA Funding through 3fficient. >
Notes:
- For smaller projects, limited to certain (utility-promoted) lighting and controls technologies, utility bill financing may be offered.
- For select energy supply projects, a power purchase agreement (PPA) may be offered.
- For larger infrastructure or civic programs, Certificates of Participation (COPs), Sale Leaseback agreements or other finance agreements may be offered.
See the table below for a quick comparison
| CASH | LOAN | LEASE | ESA | |
|---|---|---|---|---|
| Down Payment | Full | $0-partial | $0-partial | $0 Down |
| Ownership | You | Lender | 3rd Party | 3fficient |
| Tax Credit(s) | You | You | NA | NA |
| Monthly Payments | None | Fixed* | Low, Fixed* | Low, Fixed* |
| Performance Guarantee | optional | optional | optional | included |
| Energy Management w/ Fácil | optional | optional | included | included |
| Maintenance | optional | optional | included | included |
| Warranty | limited | limited | included | included |
| Payment Term | Paid in full | 5, 10 or 20 years | 5, 10 or 20 years | 5, 10 or 20 years |
| Off Balance Sheet | no | no | no | yes |
*3rd party loans are arranged between owner and lender. Term may vary. Lease and “as a Service” payments are fixed and may have low annual escalation, between 0-2.9%. Custom terms may be available upon request. 3fficient services include integrating available grants, incentives and rebates where feasible.
