Octus Inc., a Davis-based resource efficiency company, has announced the debut of RebateWorks, a multi-faceted service focused on simplifying the procurement of utility company rebates and incentives.

“Through RebateWorks, Octus delivers managed utility company rebate services to property owners, utilities and product manufacturers,” said Octus CEO Chris Soderquist in a news release. “Over the past year, Octus has completed dozens of energy and water efficiency retrofit projects, all financed by generous rebates. The continued growth of resource conservation incentives combined with of our finance, technology and real estate expertise positions Octus to be a leader in the management and facilitation of rebates.”

Resource efficiency, particularly when subsidized through rebates, presents hidden value in multi-family and commercial properties. However, the process of identifying, applying for and procuring rebates is complex and time-consuming, dissuading many property owners and managers from pursuing rebates, even when they stand to gain thousands — even tens of thousands — of dollars, the news release said.

Octus has created a system for the rebate process by leveraging its extensive working relationships with energy and water utilities, its understanding of rebates and incentives, its legacy of implementing energy and water efficiency retrofit projects, and its internal information systems.

“This is an established and growing market with latent demand for comprehensive rebate procurement and management services,” Soderquist said. “As the cost of energy and water increases — and financial incentives to increase conservation proliferate — we believe the timing is ripe for RebateWorks.”

According to the California Public Utilities Commission, energy efficiency programs managed by California’s three investor-owned utilities have allocated $3.1 billion of ratepayer funding toward rebate programs in 2010-12, a 42 percent increase over the prior three-year program cycle.

Octus Inc. is a building efficiency company that significantly reduces the utility costs of commercial, multi-family and institutional buildings through the financing and implementation of energy-efficient lighting, HVAC and water management systems and products. Octus’ project development division, Quantum Energy Solutions, has completed more than 1,500 building efficiency projects for clients that include ARCO, Bank of America, Blockbuster, Delta Airlines, Frito Lay, Hewlett-Packard, Home Depot, Ikea, Nabisco, Pepsi, Petco, Safeway, Sears and University of California.

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