Who Can Benefit?
GEO-FUNDING TM offers a financial option specially designed for Real Estate market, MUSH sectors, property owners and developers of multi-residential condominiums and commercial properties. MUSH stands for Municipalities, Universities, Schools and Hospitals.
GEO-FUNDINGTM arrangement offers several benefits to both the initial property developer and
also the subsequent occupant/owners of the building who may or may not be one in the same. GEO-FUNDINGTM provides the incremental capital to property developer/owners to construct the
system, in return for a fixed Geothermal Energy Supply Fee paid monthly, by the building
occupants, over a forty year term under Geothermal Energy Supply Agreement (ESA).
Therefore developer/owners can install geothermal systems for “net zero cost”, gaining significant marketing benefits from providing a premium “green” building, without any increase in their initial investment or any need to increase their subsequent selling price.
Building owner/occupants or in the case of a condominium, condominium unit purchasers, enjoy the increased comfort of geothermal heating and cooling, enjoy contributing in a very meaningful way to GHG and carbon emission reduction and pay 60% to 70% less than they would with a conventional HVAC system while never having to worry about increasing fuel costs for the life of the building.
In the case where the building is sold, the new owner assumes the Geothermal ESA which is registered similar to a utility easement against the property.
In the case where the property developer sells condominium units in the building and when completed the property ownership is assumed by the newly formed condominium corporation, the condo corp. assumes the Geothermal ESA along with title of the property. Purchasers of condominium units in a building, built with a geothermal system, under a Geothermal ESA are fully informed before purchase and a copy of the Geothermal Energy Supply Agreement is given to them with condominium disclosure documents at the time of purchase.
The Key features of the ABS Group Services:
- Site and project feasibility assessment for geothermal energy use – Feasibility Study and Pre-Engineering.
- Engineering & design of a complete Geothermal Energy Fields complete with equipment mechanical and electrical design for permits and approvals from authorities having jurisdiction.
- Prepare required documentation and financing plan.
- Building Energy analysis and Engineering Design
- Geothermal systems Integration with building conventional systems
- Geothermal system construction & Integration
- Geothermal system commissioning
- Support LEED® Certification applications
- Ongoing Monitoring and Maintenance (Service Level Agreement)