Slipstream and EEtility join forces to bring Pay as You Save (PAYS) inclusive energy efficiency investment programs to the Northeast and Midwest
FOR IMMEDIATE RELEASE
February 1, 2022
Rachel Dortin, PhD
Slipstream and EEtility announced today that they have entered a strategic agreement to scale Pay as You Save® (PAYS), a proven inclusive utility investment model that catalyzes access to comprehensive energy efficiency upgrades without imposing debt on consumers.
Slipstream is a nonprofit that accelerates climate solutions for all. EEtility is a majority woman-owned public benefit corporation that works alongside forward-thinking utilities to bring affordable and impactful energy efficiency opportunities to all.
"We need to find and deliver projects that pay for themselves and ensure everyone can participate. The PAYS model lets homeowners and renters upgrade their homes without incurring debt,” says Frank Greb, CEO at Slipstream.
The PAYS model is not a loan. Rather, utilities invest in energy efficiency upgrades at a customer’s home or business and recoup their investment through a monthly on-bill charge limited to 80% of projected annual energy cost savings. The customer benefits from—and pays for—the upgrades while lowering their energy bill.
The PAYS program reaches a comprehensive group that includes multifamily tenants, homeowners, and renters. Over 80% of cost-effective PAYS offers are accepted—a far higher rate than utility-driven comprehensive energy efficiency upgrade programs typically achieve.
"By linking arms with Slipstream, we now have the ability to bring the PAYS program to utilities and their customers across the Midwest and Northeast. I could not be more excited," says Tammy Agard, co-founder and CEO of EEtility.
Forward-thinking utilities can work with Slipstream and EEtility to make energy upgrades more accessible for all customers. Slipstream and EEtility will focus their PAYS outreach to utilities in Connecticut, Illinois, Iowa, Kansas, Massachusetts, Minnesota, Michigan, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, and Virginia.
For media inquiries, contact Rachel Dortin.
To discuss how we can scale PAYS in your market, contact Claire Cowan.
About EEtility: EEtility is a majority woman-owned public benefit corporation that works alongside forward-thinking utilities to bring affordable and impactful energy efficiency opportunities to all. With six consecutive years of experience solely operating successful PAYS programs beginning with rural electric cooperatives in Arkansas, Tennessee, and North Carolina, EEtility is considered the premier PAYS program operator in the country. Laser-focused on scaling the model for all utility types, EEtility has also launched PAYS programs for investor- and municipally-owned utilities in California, Georgia and Missouri.
About Slipstream: Slipstream is a nonprofit that creates, tests, delivers, and scales the next generation of energy efficiency and renewable energy programs, technologies, and financing models that move us farther, faster toward a clean energy economy. Slipstream partners with utilities, local and state governments, regulatory agencies, and other organizations to inspire new solutions to big energy challenges.