- Energy as a Service
- Energy Management
Using EaaS to Support Critical Operations and Sustainability Goals
Businesses are facing many difficulties while navigating our current reality. Nonessential companies are forced to reduce operations while those deemed essential—such as hospitals, grocery stores, and utility companies—face continuity challenges despite strains on their current capacity. These pressures are throwing new light on the potential for energy as a service (EaaS) solutions to not only help businesses better manage and procure energy but also upgrade their facilities to increase operational resiliency.
EaaS Provides Numerous Benefits for Businesses
Even before the pandemic, businesses recognized the value that EaaS solutions have in supporting their operations. In February 2020, Bernhard and ProStar Energy announced an agreement with HealthTrust to provide EaaS solutions to member hospitals nationwide. Bernhard and ProStar Energy will offer hospitals “a comprehensive choice of services, including engineering design, construction, operations & maintenance, and financing that are designed to reduce energy consumption.” The deal is expected to generate over $50 million in energy savings due to potential operational improvements in member hospitals while enhancing resiliency and reliability in current operations.
EaaS solutions provide support for critical infrastructure by providing customers cost-effective, flexible, and enterprisewide energy deployment and management solutions. By outsourcing energy management to these third parties, organizations can utilize personalized financial models, extensive technological capabilities, and deep expertise in the energy industry. These providers can help manage energy costs in a variety of ways, from identifying cost savings opportunities and gaining access to a reliable source of energy to installing green energy technologies and offsite energy management. Importantly, clients can transfer operational, financial, investment, and technological risks to service providers that take over management of energy procurement and use. These EaaS solutions enable companies to ensure a reliable source of energy and achieve their financial and sustainability goals. EaaS solutions are taking on a new relevance in the context of the current COVID-19 pandemic, as these services can provide necessary infrastructure upgrades and support that ensure operational continuity to critical businesses.
Different Companies Require Different Solutions
To take advantage of these EaaS solutions, organizations first need to take stock of their current priorities and needs. Organizations may have different goals when employing EaaS solutions. Some prioritize increasing the resiliency of operations by drawing from energy off-grid. Others prioritize reducing their carbon footprint, so they will likely include installation of renewable technologies such as solar panels. To learn more about the EaaS Market, read Guidehouse Insights’ Energy as a Service Overview report. In addition, look forward to an upcoming report on EaaS solutions for the manufacturing and logistics industry.