Funding energy storage projects ‘as a service’ offers a degree of flexibility otherwise unavailable to customers. It allows businesses to avoid certain barriers by reducing or avoiding upfront costs, and the terms can scale up or down as required, at any point in the agreement. This means that the project in place can easily respond to accommodate changes to the business’ requirements,
(a) without the need to raise further capital to secure additional equipment, or,
(b) if the equipment is suddenly no longer required, without significant financial loss, providing a future proof solution that offers a level of security not available with outright purchases.
The STaaS model has been designed to provide customers with a flexible funding option that allows them to take advantage of the benefits without investing capex.
It offers a fixed payment service for the delivery of a Powerstar VIRTUE solution, this provides the customer with the ability to match use with benefits resulting in a cash positive position, whilst de-risking the investment with Powerstar’s performance guarantee and warranty.
Powerstar provides a service-based solution that delivers benefits over time and allows customers to pay for the service provision without any capital outlay.
The below example outlines a typical STaaS funding model, highlighting how VIRTUE energy storage projects can be funded through this framework with no initial outlay cost to the customer.
The below example is based on a 5MW output with 8.2MW storage.
Service credits are paid to the customer in the unlikely event of any system downtime.
VIRTUE energy storage projects can be financed through an ESCO funding model to enable clients to benefit from improved efficiency, financial savings and enhanced performance as a result of installing a VIRTUE energy storage system, without any of the capital outlay.
ESCO funding frameworks are a proven strategy for companies who are looking to invest in energy saving technologies whilst minimising the risks and financial outlay perceived with such high level projects.
Through the ESCO funding model all up-front investment required for a VIRTUE energy storage project is fully provided to enable the project to be implemented, with the investment recouped from the client through the savings generated via an agreed payback period. the ESCO funding model for VIRTUE energy storage solutions has 5 simple stages:
Stage 1 – Analysis:
Of the current business operations, energy usage and examination of sit and facility
Stage 2 – Viability:
Feasibility calculations are carried out on the project including costs, savings and payback periods
Stage 3 – Finance Package:
A clear and concise financial package is created with all details agreed upon
Stage 4 – Implementation:
The project is undertaken with the project carried out as agreed, at no initial cost to the client.
Stage 5 – Verification:
An ongoing savings verification reporting service is provided to monitor performance
The below example outlines a typical ESCO funding model, highlighting how VIRTUE energy storage projects can be funded through this framework with no initial outlay cost to the customer.
The below example is based on a 5MW output with 8.2MW storage, figures are recalculated annually (1st April) as they are dependent on annual consumption, recorded Triad demand and the DUoS rates.
All purchases through ESCO are subject to eligibility
Powerstar is proud to announce that, in late 2017, it signed a framework agreement with multinational utility company Centrica plc, owner of British Gas. The terms of the agreement outline Powerstar as a preferred supplier, and highlights Powerstar’s commitment to provide Centrica with behind-the-meter (where a client utilises energy storage onsite) energy storage systems during...