Energy-as-a-Service (EaaS) isn’t a completely new idea, but it still falls into the “emerging market” category. The energy marketplace is becoming more complex, and in order to be successful, businesses need to find a way to navigate through all the changes. The expertise needed to manage between shifting regulations, the latest technologies, and advancing business models, is vast. This is where EaaS becomes an intelligent business strategy.
EaaS companies are able to view energy as a whole using data collected through intelligent sensors. The goals are to reduce complexity, cut costs, boost returns, and increase sustainability. Maryrose Sylvester, CEO of Current by GE stated, “Think of energy-as-a-service as the great simplifier – it shifts the burden (management, implementation, updates, ongoing technology evaluation and selection) to the vendor, makes your enterprise run better, and saves you money with little or no capital expense.”1
A Strategic Energy Plan
An Energy-as-a-Service company can analyze a business’s data and has the expertise to identify the most beneficial strategy. A big picture approach using extensive knowledge in the newest technologies, as well as regulatory requirements, means a customized plan can be developed for every business in every location. This comprehensive approach includes the: saving of energy, creation of energy, and storage of energy. “Companies need to manage all this complexity with scalable, holistic solutions that can keep pace with change while making them greener, more efficient and more nimble. And they need to do it without breaking the bank. Only one way offers these benefits: energy-as-a-service.”1 Instead of investing capital in large equipment upgrades and technology that will change, EaaS companies are providing their services for a consistent monthly cost. Constant monitoring and management helps businesses stay up to date with the newest software and technology and to continually improve their energy systems over time.
Steven Avadek, director and global head of sustainability for Citi Realty Services at Citigroup, spoke about EaaS at the 2017 Environmental Leader Conference. “This is a completely different way of looking at energy,” Avadek told Energy Manager Today. “A lot of firms could take advantage of this. They may not be the large manufacturers with large fixed sites, but firms that want to engage, be green, and don’t know how.”2