Centrica Business Solutions launches capital-free energy generation product
Published: 3 July 2020 - Rachael Morling
Centrica Business Solutions (CBS) has extended its range of financing options with the launch of an Energy as a Service bundle that includes the design, installation and financing of on-site power generation.
The new service offers businesses seeking greater control over their energy usage guaranteed cost savings without the need for upfront capital expenditure on equipment.
Designed specifically for firms looking to take investment in energy saving technology off their balance sheet, a typical project would see Centrica Business Solutions design, install and maintain energy solutions alongside the supply of gas and top-up electricity, to deliver guaranteed energy savings. Projects would then be repaid from the energy savings made over the contract term, while simultaneously ensuring reduced energy costs for the customer from the outset.
Energy as a Service deals typically include on-site generation technology such as Combined Heat and Power units (CHP), helping customers to reduce energy costs and improve energy resilience on site, as a result of being less reliant on grid power. Centrica Business Solutions’ best in class energy trading services, deliver additional savings through operating in wholesale and demand response markets.
In addition, the company will monitor energy usage within the customer’s premises, ensuring the overall mix is optimised.
By delivering significant cash savings in the short term, it aims to help businesses to recover more quickly from the COVID-19 shutdown. Such savings can then be used to fund additional carbon saving measures - such as solar PV, energy efficiency measures and electric vehicle (EV) enablement - which typically take longer to make a return on investment.
Alan Barlow, director of UK & Ireland for Centrica Business Solutions, said: “For many organisations, the last few months have been extremely challenging and so reducing costs and improving business resilience will be critical to recovery.
“By helping with the upfront investment in energy solutions, we can support them towards improved energy security and cost savings. Our aim is to support customers who wish to Build Back Better, by transitioning to a sustainable future without the need for significant capital.”