Use Michigan Made Products and get a 15% incentive bonus!
The DTE Energy Michigan-Made bonus is designed to reward customers who use Michigan-made products in their energy-efficient projects, while also helping boost our state's economy.
What's eligible: Business customers who install Michigan-Made products, such as Electro-Matic's LED Street Lighting, LED Parking Lot Lights, LED High Bay Lights, LED Canopy Lights or LED Wall Pack Lighting, at their locations in 2013, will qualify for a 15% bonus on each eligible measure; installed. Both Prescriptive and Custom measures are eligible for this offer.
To receive a Michigan-Made bonus in addition to base incentives:
- Download and complete the latest version of the 2013 Program Application. 2014 forms will soon be available.
- Check the Michigan-Made box for each incentive that meets the requirements (see above).
- The interactive PDF Application will calculate the Michigan-Made bonus automatically! An Electro-Matic LED Lighting representative can help you with the process.
- Submit your application.
See the Authorized Michigan Manufactures List
Why Leasing Makes Sense
You pay only for the use of the asset, not for the ownership. This avoids tying up capital in assets. You receive 100% financing, eliminating the need for a down payment. You can use this cash elsewhere in your company for expansion. You receive longer-term, fixed-payments, and potentially lower payments as the Lessor receives the tax benefits of ownership.
Your existing bank lines of credit, which are limited, are not impacted. Leasing also is a less restrictive form of financing. You can improve ROE, ROI, ROA, and many other financial ratios by utilizing leasing instead of borrowing. You can avoid certain tax limitations. Lease payments are expensed and do not contribute to Alternative Minimum Tax exposure or to Mid-quarter depreciation penalties.
You avoid the risk of owning equipment that is no longer technologically useful or valuable. This risk is assumed by the Lessor.
You can include many services in the lease payment, such as insurance, installation, engineering, maintenance, and taxes. Leasing generally involves less "red tape" and time than conventional financing. Additional equipment can be acquired without renegotiating existing loan covenants. Creative structures also are available to meet your specific needs.
You can acquire needed equipment outside of the capital budget. Lease payments usually are paid out of the operating budget.
The Typical Nine Steps of the Leasing Process
- INTRODUCE AND OFFER LEASING: As a cost effective, convenient alternative to obtaining capital equipment.
- QUOTE MONTHLY PAYMENTS: If you choose to quote, use the rate schedule to calculate monthly payments. Quoting monthly payments allows you to overcome total equipment price barriers.
- PRESENT CUSTOMER WITH LEASE APPLICATION: Present the application by itself, during equipment presentations, or with your proposals. Recommend that the customer fill out the application at that time.
- FAX, EMAIL OR PHONE CREDIT INFORMATION TO FINANCE COMPANY: Finance company will contact customer and take credit application by fax, email or phone upon your request.
- FINANCE COMPANY MAKES CREDIT DECISION: Within 1-2 day of receipt of all credit information, the finance company will approve or decline the customer credit.
- FINANCE COMPANY PRESENTS CUSTOMER WITH LEASE CONTRACT: The necessary documentation is signed for lease contract and UCC filing form.
- FINANCE COMPANY ISSUES PURCHASE ORDER: Upon completion of properly signed lease documentation a purchase order is phoned and followed with written confirmation.
- VENDOR INVOICES FINANCE COMPANY: Vendor then can deliver and install equipment.
- FINANCE COMPANY PAYS INVOICE IN FULL: Upon delivery and acceptance of equipment, vendor will pay the full invoice amount with 1-2 working days.
Electro-Matic understands that the implementation of a green lighting initiative requires not only considerable forethought and product planning but also a plan for financing. Fortunately, the federal and state and local governments as well as the utility industry have all come together to offer numerous opportunities for funding. The following sites list funding, rebate and incentive opportunity resources:
Federal, state, local, and utility incentives
US Department of Energy
USDA Rural Development Energy Program
Commercial Building Tax Deduction
Commercial funding for your lighting project