NEIF Acquires Full Ownership of RebateBridge™ to Enhance Utility Rebates Funding

NEIF Takes Ownership of RebateBridge™

The National Energy Improvement Fund (NEIF), a certified B Corporation dedicated to improving energy efficiency for home and building upgrades, has recently announced its full acquisition of RebateBridge™, an innovative platform designed for advanced funding on utility and program rebates. This strategic move enhances NEIF's existing operations and aims to streamline funding processes for utility rebate programs.

In collaboration with RKB Capital, NEIF originally formed RBFunding LLC in 2018, a company that has significantly impacted the landscape of energy efficiency financing. Together, they have successfully provided over $360 million in advance funding to contractors and program implementors. This funding has facilitated rebates from major utility companies, including Con Edison, PECO, PPL, PSEG, Eversource, LADWP, and California's TECH Clean program, among others. This acquisition marks a pivotal moment in NEIF’s evolution as they gain complete control over a platform essential for bolstering cash flow in the energy efficiency sector.

Enhanced Operational Efficiency

Matthew H. Brown, NEIF Co-Chair and Managing Member, emphasized the advantages of this acquisition, stating, "Our RebateBridge™ program accelerates cash flow for program implementors and contractors who participate in utility and other rebate programs. The rebate is assigned to us, and we advance funds to our program partners when the project is complete, bridging the gap between project completion and final rebate funding. With RebateBridge™ fully under the NEIF umbrella, we can now access lower costs of capital and streamline operational efficiency for this fast-growing market."

This acquisition not only strengthens NEIF's financial position but also their capacity to launch new rebate programs across various states. Recently, NEIF introduced several new RebateBridge™ initiatives aimed at expanding utility programs on a national scale, while also securing a contract to fund the upcoming electrification rebate program in New Mexico. This demonstrates NEIF's commitment to being at the forefront of enhancing energy efficiency and reducing barriers for contractors and implementors.

Future Prospects of RebateBridge™

With RebateBridge™ now wholly owned by NEIF, the organization looks forward to leveraging its existing resources and expertise to enhance the platform further. The potential for integrating lower-cost capital into the program is expected to create additional opportunities for the funding of energy-efficient projects. This is particularly crucial as the demand for energy efficiency solutions continues to grow in both residential and commercial sectors.

Potential partners interested in leveraging the RebateBridge™ platform for their projects can reach out to Jensen Handwork, the Senior Director of Program Development, for further inquiries. NEIF remains dedicated to fostering relationships with contractors and entities aiming to improve energy systems through effective financing solutions.

NEIF’s acquisition of RebateBridge™ represents a significant advancement in the energy sector, showcasing their innovation and commitment to facilitating energy improvements that contribute to a sustainable future. As the company embarks on this new chapter, stakeholders can expect exciting developments aimed at empowering energy efficiency initiatives across the nation.

Conclusion

In summary, NEIF's acquisition of RebateBridge™ stands as a testament to their dedication to driving advancements in energy efficiency funding. With this strategic move, they are well-positioned to respond to the growing demand for utility rebate programs, providing contractors and implementors with the needed resources to effectively manage and execute energy improvements. The future looks promising for NEIF as they continue to lead the charge in the clean energy landscape.