Eutectics® has helped facilitate over $86,340,059 in energy efficiency and renewable energy projects since 2012. We have helped small business owners utilize Property Assessed Clean Energy (PACE) financing for solar and energy efficiency projects, and we have helped affordable housing operators leverage solar energy to reduce operating costs and minimize future utility pricing risk.
Eutectics has worked with commercial office buildings and with non-profit organizations to implement cost-effective energy efficiency solutions ranging from LED lighting projects to HVAC upgrades. We have helped local governments – including school districts, cities, counties and special districts – save substantial tax dollars and make significant environmental progress through smart energy projects.
Further, Eutectics has worked on many historic “firsts:”
- In 2012, we facilitated the first community-funded PACE project.
- In 2014, we helped several projects secure the first PACE financing through the PACE of Minnesota program, a program Eutectics helped design and launch with the St. Paul Port Authority.
- In 2015, we helped Cuyahoga County (OH) launch the country’s first county-led green bank – the Clean Energy Financing Hub, a public-private partnership between Eutectics and the County.
- In 2015, we secured the first large public subscription to Community Solar Gardens, for the St. Paul Public Housing Authority.
- In 2016, we helped The Rose achieve Net Zero Energy status and the first Living Building Challenge certification for an affordable housing unit.
Throughout our work, Eutectics serves as “owner representative” ensuring that project owners have access to the technical information and financing options to further their enterprise and their core business – whether a precision manufacturer or a local government.
We believe our record of successful projects speaks to the effect of this commitment – to be an honest broker for project owners, as we mobilize capital to achieve the public good of sustainable economic development.
University Enterprise Laboratories (“UEL”) is a nonprofit bioscience incubator located in St. Paul. UEL renovated an existing office building on the busway connecting the University of Minnesota’s Minneapolis and St. Paul campuses. In 2005, they began leasing wet-lab space to small, high-growth bioscience and biotechnology companies, many coming directly out of the University of Minnesota. Now fully occupied, UEL has supported the creation of more than 1,300 jobs.
As a nonprofit committed to high-technology job creation, UEL embraced the opportunity to upgrade the building’s energy performance and replace aging HVAC equipment. UEL leadership engaged Eutectics to manage the process, from the initial whole-building energy audit to structuring and securing attractive financing for the project.
Crankshaft Supply, Inc. is a 50-year, family-owned company in north Minneapolis. An “enormous recycler,” Crankshaft’s team receives rusted and damaged automotive and industrial crankshafts, cleans and re-machines them from one end to the other, and returns them to service “as good as new.”
Crankshaft Supply is a clean and lean operation, helping industries all over the work save money and reduce their environmental footprint. In 2013, Crankshaft Supply owner Jay Miller wanted to get even greener, and began exploring solar electricity for the company’s roof. Crankshaft worked closely with Cedar Creek Energy to design and construct a 40- kilowatt solar electric system, using Minnesota-made tenKsolar panels.
While Crankshaft Supply secured substantial incentives for using Made-in-Minnesota solar equipment, the company still faced a daunting task: how to finance the upfront cost of the solar equipment. Like many other small- and medium-sized precision manufacturers, owner Jay Miller needed to focus his own capital on equipment that could grow his production.
Excelen – Center For Bone and Joint Research and Education is a nonprofit research and education organization, operating in downtown Minneapolis adjacent to Hennepin County Medical Center. They educate and assist orthopedic researchers in developing innovative surgical and rehabilitative techniques. As an advanced research organization, it was important to their leadership to invest in efficient and sustainable building systems.
Excelen owns their 60,000 sq. ft. building, and enjoys a stable tenant base of more than 80% leasable space. Excelen works hard to provide the best space and operations to their tenants, of whom a majority are in the medical field. Working with an aging building presented Excelen with multiple challenges, particularly balancing the cost of deep retrofits and upgrades with the increased performance and reduced operating expenses.
To assist in this growth, Eutectics® facilitated attractive financing to allow Excelen to double its investment in new mechanical equipment and building controls. The proposed control upgrades provide significant environmental and financial benefit to Excelen, with nearly $60,000 in energy, operations and maintenance savings in the first full year of implementation.
The first project of the new financing program “SolarNote” became a reality in late December on the rooftop of United Noodles grocery store and deli in south Minneapolis.
SolarNote is the brainchild of Jeremy Kalin, president of Eutectics Consulting LLC and a former DFL legislator. The biggest roadblock to the expansion of solar power, he said, is the difficulty that building owners encounter getting bank financing and understanding the various tax credits and rebates available to investors.
“SolarNote gives our clients access to capital to pay for a smart investment in their building in the medium and long term, ” he said. “It solves that problem and removes the complexity.”
Thanks to a City of Edina financing program and help from Eutectics, Salut Bar Americain is saving energy, saving money, and doing good for the planet – all while staying focused on their core business.
Salut Bar Americain is one of Edina’s most popular neighborhood restaurants known for great service and an ecletic french menu. Salut’s owner, Parasole Restaurant Holdings, actively works to be good stewards of the planet and conserve energy. And, like any business, they watch their expenses closely – especially their utility bills.
Salut’s parent company, Parasole Restaurants, had installed energy-efficient LED lights and mechanical system sensors in new restaurants in Galleria and in Maple Grove, and they liked the results. The LED lights show off the great food, and the range hood fans operate at far greater efficiency. The utility bills are lower, and the food looks great, and as it always has, tastes even better at Parasole restaurants.
Salut Bar Americain was a natural next step for Parasole to try installing LED lights and kitchen hood controls as part of a retrofit in an existing restaurant space. Working with EnergyMisers LLC’s president Bill Bieganek, Salut discovered that the Xcel Energy efficiency rebates would reduce the total upfront cost to $39,308 – and the energy and maintenance savings would provide a simple payback of just 2.5 years.