Energy services company UrbanVolt has announced the launch of Solar as a Service (SOLaaS). This marks the first time a zero capital expenditure solar solution is being offered for commercial buildings anywhere in the world in order to help businesses permanently cut their energy costs.
UrbanVolt’s Solar as a Service is also part of the company’s plan to take 1 in 5 of its clients off the grid entirely within the next 5 years.
SOLaaS will operate along the same lines as the company’s Light as a Service model whereby UrbanVolt invests its capital installing energy-efficient lighting for businesses with an agreement to share the energy savings between both parties over a five-year period.
Solar as a Service will operate under the same model and will help companies protect themselves against rising energy costs. UrbanVolt’s partners include Swiss specialist investor SUSI, which provides funding and Munich Re which insures their service.
Company CEO Kevin Maughan said businesses in Ireland have been crying out for solar solutions and UrbanVolt has already signed up their first clients for the new service.
“Before companies install solar, they must first look at reducing their consumption. The most effective way to do that is via LED as they will immediately cut lighting consumption by 75 per cent or more. Once consumption has dropped, it is time to start looking at generating energy on site via solar.
“Our Light as a Service clients are following this roadmap and because they have cut their consumption by upgrading to LED, they are now ready to start producing their own energy on site.
“Once a client site is deemed suitable, we will make the capital investment, carry out the installation and maintain the solar panels. While the amount of energy generated via solar panels will vary depending on location, roof angle, roof size and orientation, we estimate an average sized warehouse of 50,000sqft could save up to €10,000 or approximately 90,000kWhs every year via SOLaaS. That’s €10,000 which could then be reinvested into growing their core business.”
Pictured above: Graham Deane and Declan Barrett, co-founders of UrbanVolt .