Serious Energy, which counts the Empire State Building as one of its 70,000 customers worldwide – is now offering energy efficiency upgrades with zero upfront costs to building owners.
SeriousCapital says "Just give us your utility bill and we’ll do the rest."
"We do everything for our customers – from start to finish. We designed the program to eliminate all roadblocks to improving our buildings – for everyone. For the first time, this is an efficiency program where the interests of all parties are aligned, and everyone wins," says Claire Broido Johnson, General Manager of SeriousCapital.
As a co-founder of SunEdison – the company that pioneered the successful power purchase agreement model now widely used in the solar industry – Claire is duplicating that model to spur the energy efficiency industry. Solar took off when the upfront costs were removed and the same can be done for energy efficiency.
How it works:
- a SaaS-based energy efficiency platform that analyzes building energy use and establishes a baseline without having to go through an energy audit. The software continuously identifies and drives savings by fine-tuning systems using advanced algorithms, factoring in weather conditions, occupancy, energy costs, etc.
- Identifies, installs, and pays for efficiency upgrades to the building.
- No liens loans, no tax implications. Serious simply securitizes only one thing: future energy payments for a fixed period of time.
About 30% of energy consumed by buildings is wasted, and since US buildings use 40% of all energy, that’s a lot of waste. Building energy costs are about $200 billion a year, according to the U.S. Department of Energy.
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