The results are in: Ouachita Electric’s switch to a tariffed on-bill investment program, HELP PAYS®, has proved more inclusive and successful than their previous best-practice on-bill loan program, the Home Energy Lending Program (HELP).
Some highlights from the results are below. Download the complete two-page briefing here.
When comparing the best quarter with the HELP on-bill loan program to the first quarter with the HELP PAYS® tariffed on-bill investment program, Ouachita Electric found:
1. Participation doubled with no additional marketing.
2. Participating customers benefited from immediate positive cash flow by keeping 20% of the estimated savings, averaging $150 a year – compared to zero in a bill-neutral loan program.
3. Renters accounted for 1/3 of the participants in the first quarter, rather than being ineligible to participate in the previous loan program, and their landlords readily supported the program.
4. In more than 60 multi-family housing units assessed in the first quarter, the utility identified cost effective investment opportunities, and 100% of those residents accepted the offer by opting into the tariff.
5. The average scale of the utility’s investments doubled compared to the on-bill loan program, reaching $6,000 and yielding average estimated savings over 30%….
Continue reading the complete two-page briefing here.