Welcome!

News Feed Item

Noesis Unlocks Energy Efficiency Market with Breakthrough Project Financing Fund

Modeled after the highly successful solar power purchase agreement (PPA), and backed by an initial fund of $30mm underwritten by a leading provider of energy efficiency financing, the new Noesis Shared Savings Agreement provides a long-awaited performance

AUSTIN, Texas, March 26, 2014 /PRNewswire-iReach/ -- Noesis Energy, the leading financing and savings platform for energy efficiency projects, has launched performance-based financing designed specifically for commercial and industrial energy efficiency project developers. The Noesis Shared Savings Agreement (SSA), an industry first, is ideal for efficiency projects ranging from $500k to $2–3 million. It is optimized for mid-size to large project developers that want to offer off-balance-sheet performance contracting to their customers.

Photo - http://photos.prnewswire.com/prnh/20140326/MN89936

Last year, Noesis launched Noesis Financial Services to help its customers overcome capital budget constraints by providing them with an outsourced financing desk that helps them evaluate and secure third-party financing for small to mid-sized efficiency retrofits. Initially providing basic brokerage services, Noesis Financial Services has signed up more than 30 energy efficiency product and service providers, and quoted over $37 million in energy projects. Today's announcement—the innovative Shared Savings Agreement—builds on that momentum by expanding Noesis' available financing options to meet the varying needs of building owners, from basic capital leases to off-balance sheet shared-incentive contracts.

"Aligning the financing with the actual energy savings realized has been a model that has been hugely successful in residential solar. With Noesis Shared Savings Agreement, we're applying that same model to the commercial and industrial energy efficiency market, only at a much larger scale," said Scott Harmon, CEO of Noesis Energy.

Noesis Shared Savings Agreement enables energy project developers to compete with ESCOs
Until now, the energy efficiency market has been dominated by several, large energy service companies specializing in multi-million dollar, 'turnkey' energy savings projects for mostly government customers — often involving the complete renovation of entire facilities. But recent advances in energy-efficient systems for buildings, such as LED lighting and intelligent building controls, are bringing energy efficiency to the mainstream, in effect creating a 'mid-market' for lower-cost energy efficiency with virtually any commercial or industrial building. What has been missing is a financing solution that allows these mainstream C&I customers to pay for their efficiency projects and retrofits according to how much energy they actually save, making the projects cash-flow positive from day one. Noesis SSA addresses this gap in the efficiency-financing marketplace.

"This new shared savings vehicle from Noesis is the latest example of technology-based underwriting closing the gap between energy efficiency projects and innovative financing," said Matt Golden, senior energy finance consultant and director of Environmental Defense Fund's Investor Confidence Project (ICP). "This new financing option is a great example of how standardizing and streamlining the technical underwriting process can connect capital sources with a stream of consistent and reliable energy-efficiency project deal-flow."

The SSA is similar to a solar power purchase agreement, in that it allows the customer to pay only for the energy they actually save from the project. Similar in concept to the PPA 'net meter' payment, the SSA customer pays a variable payment based upon the amount of avoided energy measured, a concept sometimes referred to as 'negawatt pricing.' However, SSAs are much simpler and more flexible than traditional large-scale guaranteed performance contracts, making them more attractive to mainstream commercial and industrial CFOs. In addition, the SSA is designed for mid-sized projects and the contractors and developers that sell them, so they allow mid-sized firms to position themselves as 'virtual ESCOs' and greatly extend their customer reach, all without over-burdening their balance sheets with risk.

What energy project developers say about the Noesis SSA
"The biggest challenge we always face, and that holds back energy efficiency projects from moving forward, are budget constraints and perceived risk with return on investment from savings," said Pete Kramer, Energy Service Sales Leader of TraneOregon. "The Noesis Shared Savings Agreement model directly addresses both of these barriers. Having a simple solution where the customer only pays if the project delivers the promised savings just makes sense."

"Our lighting efficiency projects are great investments for our customers," said Chad Palmer, CEO of Energyficient Lighting Systems. "Delivering them with low-risk, off-balance-sheet financing vehicles like the Noesis SSA makes them 'no-brainer' investments."

"No budget and lack of trust in savings forecasts are two of the most common reasons why CFOs don't approve energy efficiency projects," said John Byers, CEO of Infinilume Corp. "The Noesis SSA allows you to overcome both objections by providing third-party financing where the building owner only pays if the project delivers the promised savings. We believe the Noesis SSA is the financing vehicle that can significantly unlock the commercial mid-market energy efficiency retrofit market."

To learn more about the Noesis Shared Savings Agreement, sign up for this free webinar:
https://www4.gotomeeting.com/register/598085583

ABOUT NOESIS ENERGY
Noesis Energy helps efficiency professionals get more projects approved and implemented by providing turnkey financing services and SaaS-based software tools to accelerate and streamline their efficiency project analysis and proposals. Noesis Energy is backed by Black Coral Capital and Austin Ventures, and maintains offices in Austin, Texas and Cambridge, Ontario, Canada. For more information, visit www.noesisenergy.com and follow @noesisenergy. Learn how the Noesis Energy platform works here. Use our site to find incentives at incentives.noesisenergy.com.

Media Contact: Tim Cox, Noesis Energy, 650-369-7784, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE Noesis Energy

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Michael Maximilien, better known as max or Dr. Max, is a computer scientist with IBM. At IBM Research Triangle Park, he was a principal engineer for the worldwide industry point-of-sale standard: JavaPOS. At IBM Research, some highlights include pioneering research on semantic Web services, mashups, and cloud computing, and platform-as-a-service. He joined the IBM Cloud Labs in 2014 and works closely with Pivotal Inc., to help make the Cloud Found the best PaaS.
The “Digital Era” is forcing us to engage with new methods to build, operate and maintain applications. This transformation also implies an evolution to more and more intelligent applications to better engage with the customers, while creating significant market differentiators. In both cases, the cloud has become a key enabler to embrace this digital revolution. So, moving to the cloud is no longer the question; the new questions are HOW and WHEN. To make this equation even more complex, most ...
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: implemen...
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...
In a world where the internet rules all, where 94% of business buyers conduct online research, and where e-commerce sales are poised to fall between $427 billion and $443 billion by the end of this year, we think it's safe to say that your website is a vital part of your business strategy. Whether you're a B2B company, a local business, or an e-commerce site, digital presence is key to maintain in your drive towards success. Digital Performance will take priority in 2018 for the following reason...
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, provided a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services with...
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discussed how a new approach is neces...
What's the role of an IT self-service portal when you get to continuous delivery and Infrastructure as Code? This general session showed how to create the continuous delivery culture and eight accelerators for leading the change. Don Demcsak is a DevOps and Cloud Native Modernization Principal for Dell EMC based out of New Jersey. He is a former, long time, Microsoft Most Valuable Professional, specializing in building and architecting Application Delivery Pipelines for hybrid legacy, and cloud ...
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"I focus on what we are calling CAST Highlight, which is our SaaS application portfolio analysis tool. It is an extremely lightweight tool that can integrate with pretty much any build process right now," explained Andrew Siegmund, Application Migration Specialist for CAST, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We were founded in 2003 and the way we were founded was about good backup and good disaster recovery for our clients, and for the last 20 years we've been pretty consistent with that," noted Marc Malafronte, Territory Manager at StorageCraft, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.