Serious Energy Inc., parent of Serious Windows, is joining with Grubb & Ellis Co., a real estate services and investment firm, to identify opportunities with occupiers and owners across the U.S. interested in making energy efficiency upgrades to their buildings. Based in Sunnyvale, Calif., Serious Energy has formally launched SeriousCapital to offer a service that cuts energy and maintenance costs and creates more comfortable and efficient properties for building owners and tenants–at zero upfront cost, the company reports.
“Just give us your utility bill. We will do the rest,” says Kevin Surace, Serious CEO. “We’re changing the way people think about upgrading buildings. Now, with no out-of-pocket costs, building owners, cities, states, and schools can upgrade the efficiency and comfort of their buildings immediately. No reason to wait. The upgrades will be cheaper, better, and easier than anyone else. This is the breakthrough in delivering efficiency upgrades that building owners have been waiting for.”
“This is the type of project a number of owners and occupiers will find great value in, for their businesses as well as to the benefit of their employees,” says Ken Di Scipio, a managing director at Grubb & Ellis, who will lead the site selection process. “We’ve initially received strong interest since launching the project with Serious Energy and look forward to helping reduce energy costs at properties across the U.S.”
“We are happy to work with Grubb & Ellis to bring our building upgrade service to the commercial real estate market,” says Claire Broido Johnson, SeriousCapital general manager. “We must make it simple for building owners to make improvements to their buildings and eliminate the roadblocks that have traditionally stood in the way of creating more comfortable, efficient, valuable properties.”
The financial concepts behind SeriousCapital–building upgrades at no upfront cost–were in part adopted from the successful solar power purchase agreements which have proliferated in the past few years, company officials note. Johnson was active in the development of solar power purchase agreements as a co-founder of SunEdison.
In the new program, Serious Energy will use a variety of its products and services. Its SeriousEnergy Manager is a cloud-based enterprise software system that monitors, optimizes, and controls building energy use using advanced algorithm technology. Its SeriousWindows and iWindow can significantly improve building envelope energy performance, improving comfort and reducing heating and cooling costs.
With the the building upgrade service, the building owner receives immediate and continuing reductions in energy costs, backed by third party insurers to guarantee that savings now and into the future, the company explains. Serious Energy identifies, installs, and pays for efficiency upgrades. For the owner, it all happens off-balance sheet, with no lien loans and no tax implications, it is reported.
“We do everything for our customers–from start to finish," says Johnson. "We designed the program to eliminate all roadblocks to improving our buildings–for everyone. For the first time, this is an efficiency program where the interests of all parties are aligned, and everyone wins.” said Claire Broido Johnson, General Manager of SeriousCapital.
- Source:Glass Magazine
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