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
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term.
The technologies behind big data and cloud computing are converging quickly, offering businesses new capabilities for fast, easy, wide-ranging access to data. However, to capitalize on the cost-efficiencies and time-to-value opportunities of analytics in the cloud, big data and cloud technologies must be integrated and managed properly. Pythian's Director of Big Data and Data Science, Danil Zburivsky will explore: The main technology components and best practices being deployed to take advantage...
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
CloudEXPO New York 2018, colocated with DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busi...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
Today, we have more data to manage than ever. We also have better algorithms that help us access our data faster. Cloud is the driving force behind many of the data warehouse advancements we have enjoyed in recent years. But what are the best practices for storing data in the cloud for machine learning and data science applications?
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
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...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists examined how DevOps helps to meet the de...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science" is responsible for guiding the technology strategy within Hitachi Vantara for IoT and Analytics. Bill brings a balanced business-technology approach that focuses on business outcomes to drive data, analytics and technology decisions that underpin an organization's digital transformation strategy.
A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to great conferences, helping you discover new conferences and increase your return on investment.
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...