GridPoint and Hannon Armstrong Announce Transformational Pricing Strategy to Expand Commercial Energy Efficiency Opportunities
GridPoint, a smart buildings technology innovator, announced an investment by Hannon Armstrong (NYSE: HASI), a leading investor in climate change solutions, allowing GridPoint to offer a more accessible behind-the-meter energy efficiency solution for small to mid-sized buildings.
GridPoint will now offer its award-winning energy management platform as an all-inclusive service, requiring zero capital down with a monthly pricing structure. This go-to-market strategy eliminates the financial hurdles associated with up-front costs and enables customers to deploy the platform at multiple locations with more impactful energy and emissions savings from day one.
GridPoint's Energy Management as a Service (EMaaS) approach combines installation, equipment, software and service costs into a bundled monthly payment that is designed to be significantly lower than the energy savings the solution provides. As part of the agreement, Hannon Armstrong will provide long-term financing for EMaaS projects across GridPoint's clients' distributed portfolio of sites.
"High up-front capital costs have been a long-time hurdle when selling energy and demand management technology to businesses," said GridPoint CEO Mark Danzenbaker. "The synergies between GridPoint and Hannon Armstrong enable our technology to be more accessible while creating a greater carbon emission reduction and energy savings impact for customers."
"As a longtime investor and advocate for energy efficiency innovation, we are thrilled to support GridPoint with the capital to facilitate their new Energy Management as a Service offering," said Hannon Armstrong President and CEO Jeff Eckel. "The energy efficiency and optimization market for small and mid-sized commercial buildings has historically been underserved, and we believe the potential for significantly reducing carbon emissions through this market, which is poised for high growth, is significant."
Building Optimization Made Simple
GridPoint's platform captures energy and facility data from buildings to better understand patterns, identify inefficiencies, and assess building health across enterprises. GridPoint Energy Manager software then makes the data actionable by leveraging controls and automation tools to optimize energy and facility operations, save money, and reduce the greenhouse gas emissions from buildings that accelerate climate change.
GridPoint's flexible and expandable platform also enables customers to participate in utility-based programs, like demand response, and integrate with other distributed energy resources (DERs) to achieve greater value and support a more reliable and resilient grid. GridPoint's platform is installed in over 15,000 locations, has saved customers over $440 million in energy costs, and has reduced over 5.6 billion kWh to-date.
GridPoint | www.gridpoint.com
Hannon Armstrong | www.hannonarmstrong.com