Options for Improving Your Business's Sustainability
CEI is a mission-driven lender providing loans to small businesses in Maine and beyond. We also support the small business community through free advising, technical assistance, and policy advocacy. From providing resources to help understand sustainable swaps in your business to financing solar and efficiency upgrades, we’re here to help you navigate the often-overwhelming world of sustainable business practices.
Energy costs represent a large portion of small businesses’ expenses; one-third of small businesses listed energy as a top three business expense. Energy costs can also be unpredictable; Maine’s electricity prices grew at the third fastest rate in the U.S. In addition to high utility rates, Maine has one of the oldest building stocks in the country. What does this mean for small businesses in Maine? Business owners are operating out of inefficient buildings and paying high rates to heat and power those buildings.
On this page you will find resources on how you can get started in making your business more energy efficient and sustainable. Please reach out to emily.wood@ceimaine.org if you have questions about financing efficiency upgrades for your business.
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Addressing Energy Efficiency in Your Small Business
Small businesses that invest in energy efficiency can save 10-30% annually on energy costs, helping to improve their bottom line. Energy efficiency upgrades that make sense for your business require having the ability to compare costs over time in a spreadsheet.
Getting Started
Energy Assessments
Before you make any changes or purchases, it is helpful to get a baseline understanding of your energy usage.
Determine your annual expenses for electricity, heating, and cooling. What percentage of your annual business expenses are spent on those energy costs?
This data will help an energy auditor, should you hire one, determine where the opportunities for energy savings are in your usage.
Do-It-Yourself Methods
This resource walks you through a series of things you can check yourself to help determine where your building or home is losing energy. It is a step you can take before hiring a professional to help get a head start.
You can input your current heating system and compare what annual heating costs would be with a different system. To fill out the calculator you need to know what type of system you have (boiler, furnace, heat pump, etc.) and your annual heating bill.
You can also compare Maine heating fuel prices by type and region here.
This tool can provide recommendations on sustainable changes for a building retrofit.
Professional Energy Audits
Find an energy auditor through Efficiency Maine’s registered vendor list.
Tips on how to prepare to get the most out of your audit.
Sustainable Solutions
For some ideas on sustainable cost savings changes you can make in your business, click through our deck of solutions below or download a PDF of the entire deck:
Resources
Guides to Solar and Energy Savings
We have created and gathered some to help you navigate solar and energy savings.
CEI Guides
Small businesses that invest in energy efficiency can save 10-30% annually in energy costs and improve their bottom line. This guide highlights practical options for energy efficiency, whether you rent or own your building.
Is solar right for your small business? Follow this step-by-step guide to discover the costs and benefits to switching to solar.
Landlords are able to save money each month and increase the value of their property by making the switch to solar.
Department of Energy Guides
Efficiency Maine Guides
Energy Star
Financing
We know that financing these upgrades can be a challenge. Here are some options to help finance energy savings upgrades for your small business.
Grants
Loans
Does your small business want to go solar? As part of a pilot program, we are offering 3.5% interest loans for small businesses in Maine looking to go green and install solar panels on their business. We can also get you in touch with local solar installers for a quote.
Loans up to $1 Million
CEI’s Wicked Fast Loans offer up to $15,000 for start-up businesses and up to $30,000 for existing businesses, with a loan decision in 3 business days.
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