EnergyWise Partners LLC was awarded $95,000 in state funding for its financing model for renewable energy, company officials said Monday.
The funding was awarded June 4 by the New York State Energy Research and Development Authority, the company said.
The existing cost recovery model requires a significant initial investment from customers, with smaller monthly payments, officials said. The Rochester company is changing the model to one with a smaller initial investment, with customers purchasing only the energy they use.
Customers will not pay for the technology providing the energy, thereby eliminating concerns about advances in technology and the need to upgrade their equipment, officials said.
“We believe everyone should have access to a clean, renewable alternative to fossil fuels without digging deeply into their pockets,” EnergyWise business manager David Neale said in a statement. “Our business model explores a new utility style approach to residential financing.”
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