New $10 million Fund to Finance Energy Storage Projects Nationwide TIP Capital and Green Charge Networks Bring Zero-Down Energy Storage to the Masses
BLOOMFIELD HILLS, Mich. and SANTA CLARA, Calif., March 4, 2014 /PRNewswire/ -- TIP Capital, a leading provider of equipment finance and asset management solutions, and Green Charge Networks (GCN), a leader in Power Efficiency, have announced a program to offer $0 down financing for GCN's retail, municipal and industrial customers. The initial commitment will consist of an unprecedented $10 million fund dedicated to $0 down energy storage financing.
TIP Capital has developed an effective energy-efficient financing program, which allows building and property owners to leverage their utility savings to earmark for TIP Capital's fixed rate monthly financing payments for lighting retrofits, HVAC upgrades, energy storage and other qualified energy-efficient projects.
"With Green Charge Networks' savings track record for their customers and pipeline of deals, TIP Capital is excited to be partnered with GCN," said Ross Reida, VP of National Accounts for TIP Capital. "Our flexible programs will allow GCN's customers to pay $0 down, provide energy savings above what they pay, and protect against rising demand charges."
"For buildings to be more power efficient and to optimize the potential for environment benefits, intelligent energy storage must be financially affordable and accessible for business owners," said Brian Asparro, CFO for Green Charge Networks. "Commercial buildings account for 18% of US CO2 emissions. Through GCN's GreenStationTM, building owners can save 15% or more on their electric bills."
About TIP Capital
TIP Capital is a leading independent equipment financing and asset management company headquartered in Bloomfield Hills, Michigan. TIP Capital specializes in providing customized "lifecycle management" financing solutions for their clients' equipment acquisitions throughout the United States, Canada, Mexico, and Puerto Rico. For more information, visit www.tipcapital.com.
About Green Charge Networks
Founded in 2009, Green Charge Networks is a leader in intelligent customer-sited energy storage. The company gives commercial and industrial customers control of rising demand rates on their electric bills. The GreenStation™ was developed in partnership with leading utilities around the country, the U.S. Department of Energy, and Fortune 500 customers. GCN is headquartered in Santa Clara, CA with office in NYC.
SOURCE Green Charge Networks