Pala receives largest On-Bill Financing loan in California for energy efficiency initiatives
May 14, 2015 (San Diego)-- San Diego Gas & Electric (SDG&E) presented a $1,246,692.70 check to the Pala Band of Mission Indians and Pala Casino Spa & Resort for energy-efficient equipment scheduled to be installed in the nearly 630,000 square feet property on May 4th, , making it the largest On-Bill Financing loan ever issued in California.
Funded through SDG&E’s On-Bill Financing and Energy Efficiency Business Rebates and Incentives programs, SDG&E estimates that the improvements will save Pala nearly $250,000 in electric costs each year. The loan period will last just over 4 years and funds will be repaid from the energy cost savings produced by the equipment. Government-funded customers such as Pala are eligible to finance projects that meet the payback period of up to 10 years. Given the project size, it is estimated that it will be paid back in less than three and a half years.
“On-Bill Financing helps our business customers invest in improvements that will help them save on their energy bills and reduce their carbon footprint,” said Caroline Winn, vice president of customer services for SDG&E. “Today’s milestone is an example of SDG&E’s commitment to providing our customers with the resources and opportunities to develop affordable and reliable energy options, while achieving their energy efficiency and sustainability goals.”
With rebates totaling over $76,000 through SDG&E’s Energy Efficiency Business Rebates Program, Pala has acquired a Demand Control Ventilation System for Commercial Kitchens and an Economizer. This new system will help cool the building by using smoke and heat sensors in the kitchen to control the exhaust hood airflow and bring in cool air from the outside.
Furthermore, Pala also added an Energy Management System in order to monitor energy usage through SDG&E’s Energy Efficiency Business Incentive Program. In general, Pala is estimated to save 145 kilowatts (kW) of electricity annually.
“Our recent energy efficiency investments continue Pala’s long tradition and commitment to preserve the environment while providing our guests with a complete entertainment experience,” said Bill Bembenek, Pala’s chief executive officer. “SDG&E has been a great energy partner and we are looking forward to the significant future cost savings.”
On-Bill Financing has helped over 1,400 non-residential customers since the utility pioneered the program in 2007. More than $46.6 million in energy-efficient equipment has been financed through On-Bill Financing, which lends funds to commercial non-residential customers in good standing with the utility to purchase qualifying equipment with no money down and no interest payments. To learn more about On-Bill Financing, visit sdge.com/busin