How to Waste Money on an Energy Retrofit
There’s no shortage of ways to make an energy retrofit more expensive than it needs to be. Most of them don’t involve bad technology — they involve bad funding decisions.
Here are three of the fastest ways to waste money on a good project:
1. Ignoring Incentives, Rebates, and Credits
If you start a project without checking for available incentives, you’re probably leaving free money on the table. Utilities, governments, and other programs regularly fund upgrades that reduce carbon and energy use — but they won’t call to remind you. Missing out on a 20–40% rebate because you didn’t look into eligibility is one of the most expensive oversights a building owner can make.
2. Choosing the “Cheapest” Financing
Lowest interest rate? Sounds great — until you read the fine print. The true cost of financing depends on much more than the rate. Security requirements, renewal fees, and repayment terms can all drive up total cost. A loan that looks cheapest upfront can end up costing thousands more over its lifetime. Comparing total cost, not sticker price, is the only way to know what you’re really paying for your money.
3. Not Optimizing the Funding Stack
The smartest projects don’t rely on just one funding source. They use a mix — grants, rebates, low-interest loans, and internal capital — to minimize out-of-pocket costs. Getting the mix wrong can leave you paying more than necessary, or worse, disqualify you from additional programs. The challenge is that every funding source has its own eligibility rules and limits.
A Smarter Way to Pay for Retrofits
At GRCL, we’ve developed a new tool to help building owners identify, compare, and optimize all their available funding options. It’s designed to show how different combinations of incentives, loans, and grants affect the true cost of your project — so you can make informed decisions before spending a dollar.
Energy retrofits are not just about saving energy. They're about saving money — and knowing where not to waste it. Check out our new financing tool before you put together funding for your next energy efficiency project. Because if you’re not managing your energy, who is?
2-Minute Payback is GRCL’s blog of energy-saving tips and tools for busy building managers. This post was written by Chuck Faulkner.
