RBC launches Energy Efficiency Lending pilot program for retail clients
August 27, 2013 - RBC recently launched the RBC Energy Efficiency Lending pilot program for retail clients in Ontario (national rollout expected later next year), saying it is the first bank to market this type of energy retrofit lending solution whereby business clients can use the resulting cost savings to pay back the loan, leaving their cash flow intact.
By Anthony Capkun
“Our specialists can help assess your potential energy-saving opportunities, and lend you the funds to help realize those savings,” explains the bank on its website. “The loan or lease will be set up to reduce the impact on your existing cash flow by including the expected energy cost savings into your repayment schedule.”
Energy retrofits might include:
• Lower-energy lighting
• Improved insulation and roofing
• Air sealing and draft-proofing
• New furnaces, boilers and windows
The bank adds it can connect businesses with resources that can help them further maximize returns through the use of available rebates, incentives and tax credits.