The self-storage industry has been growing in recent years, but operating costs can add up quickly. CPACE financing can help you invest in systems and technologies that can help reduce energy costs to enhance profitability.
PACE is a program that helps property owners finance energy-efficient building systems to help reduce environmental impact. These systems can also equal major savings in regular operating costs and even offer a great marketing point to help boost revenue for your storage facility.
Use CPACE Financing to Upgrade to Energy Efficient Lighting
Most of the energy costs for storage facilities come from lighting. Therefore, many facilities are looking for better solutions to reduce costs and their environmental impact. CPACE financing can help provide the funds you need to invest in lighting systems that can significantly lower your operating costs.
Consider installing LED lighting because the bulbs use less energy than other alternatives and need replacement less often. This helps reduce routine costs for electricity and for supplies.
Also, motion sensors or lighting timers are a great option for storage facilities. This helps save money on lighting costs by turning lights off when no one is around and turning them on as needed for people getting into their units.
Implementing new energy-saving light systems throughout storage facilities is a great idea for future profitability, but can quickly eat up available cash flow. Instead, consider using PACE funding to help finance these upgrades. This financing option is low cost and long-term to help you keep capital available for other ventures. The payments even stay with the property if you decide to sell in future!
PACE Funding Can Help You Invest in Money-Saving HVAC Systems
Another thing you can often use CPACE financing for is energy efficient HVAC systems. Climate controlled storage is in higher demand in recent years. Customers want to make sure their belongings aren’t exposed to extreme temperatures and humidity. Unfortunately, HVAC systems can use up a lot of energy, costing your storage facility big expenses each month.
However, there are systems available that can help reduce energy costs. First, ensure your HVAC system design is energy efficient. Also, look for equipment that helps reduce energy consumption. Don’t forget to make sure your facility has great insulation to keep all that climate-controlled air inside!
In many cases, you can use CPACE financing to help finance the costs of an HVAC system upgrade for your storage facility. When systems help save significant amounts of energy, they often qualify for CPACE loans. The great thing about using less energy in your storage facility is you’ll also be spending less on utility costs for your facility!
Talk to our PACE Lenders Today for Low-Cost, Long-Term Financing Options
Ready to get started with PACE? Call our PACE lenders today at Stonehill PACE! We’re a direct lender for commercial properties offering cost-effective loan solutions for your needs. Our PACE loans offer low costs, fixed rates, long terms, and non-recourse funding. Call us at (678) 823-9313 to set up a consultation with our team!