Introducing EnPowered Payments - closing energy projects has never been easier!
By Mike Kirkup, CTO - October 14, 2021
EnPowered Payments is the key to unlocking project backlog, increasing sales, and saving money on your electricity bill
Companies looking to purchase energy assets often don’t know which projects to pursue, or whether the promised savings will actually materialize. One option is to finance the project, but keeping track of billing and performance data is an added hassle — different bills in different places makes the process unnecessarily complicated. This means many firms are risk averse when it comes to considering energy upgrades or equipment — that means more energy wastage, higher electricity bills, and more missed opportunities. Not only that, but for energy solution providers it's hard to differentiate your offering from those of your competitors, since customers often do not have sufficient information and experience to discern between offerings.
Working with large energy users, such as manufacturing facilities, colleges, or high-rise buildings, has given EnPowered an unique insight into the hurdles facing companies looking to reduce emissions, costs, and adopt cleantech solutions. Having listened to the needs of our customers and partners, EnPowered has developed an exciting offering — EnPowered Payments.
What is EnPowered Payments?
EnPowered Payments is an on-bill payment platform that unlocks cleantech projects that are currently held back by risk aversion, capital hurdles, and a confusing energy marketplace. Payments lets energy users pay for equipment and upgrades through their electricity bill, simplifying bill tracking and payment. With Payments, the industry is able to offer energy projects as operating expenses directly on the electricity bill rather than as capital expenses, which has the added benefit of avoiding time-consuming and complex capital approval processes.
Let EnPowered do the legwork on the backend so you can focus on running your business
By removing these barriers, Payments helps the industry exponentially increase the adoption of cleantech solutions. EnPowered manages all the work needed to integrate with the energy markets and providers, and even has financiers able to convert energy assets into monthly payments — this ensures a simple one-stop solution for the industry.
How does EnPowered Payments help energy solution providers?
EnPowered Payments helps energy solution providers drive new sales by unlocking many of the projects in their backlog — projects that have been held up due to customer hesitation and capital barriers. Our Payments platform helps energy solution providers reduce the barriers to entry for hesitant (or financially limited) customers, increasing sales and competitive advantage. Upon joining our partner network, solution providers can begin placing charges on their customer’s electricity bill.
Specifically, Payments allows energy solution providers to sell their solutions as operating costs instead of capital costs - avoiding complex capital approvals in the process. Solution providers are therefore able to ensure the monthly operating charge is less than the monthly savings, delivering savings to the customer on Day 1. At the same time, customers benefit from increased transparency and the ability to use future electricity savings to buy assets today in order to harness the power of cleantech and lower their electricity bills.
How does EnPowered Payments help customers?
Payments allows large energy users to pay for their electrical upgrades and new assets through their electricity bill. Holding out for the perfect interest rate or capital can drag-on for months and leads to project backlogs - and every passing month leads to thousands more in missed savings. Payments lets customers save more money by moving faster on important upgrades while not having to pay anything upfront. Specifically, Payments lets customers see their asset payments on their electricity bills, and use their future savings to pay for new equipment or upgrades instead of spending their limited capital on risky assets. EnPowered’s bill capabilities makes it simple for customers to track and pay for energy projects, with less paperwork and more clear, actionable data on how much they are saving and how their asset is performing.
Payments simplifies energy projects, saving customers money from Day 1
For purchasers of energy assets, after having chosen an asset from an energy solution provider that leverages EnPowered Payments, they will be enrolled in the Payments platform. After confirming with the customer and after the asset has been installed, EnPowered will work with the local utility to add asset payments as a line item on the customer’s electricity bill. The asset can be paid off based on a percentage of savings which flow to the energy solution provider until the asset is paid off. Customers will see an initial, partial decrease in their electricity bill that reflects the savings accrued from their energy investment, minus the recurring payment. Once the asset has been fully paid off, customer’s bills will drop even further, as they begin to enjoy the full savings potential of their energy asset.
Waiting is expensive, reach out today
Savvy businesses recognize the importance of increasing energy efficiency, reducing emissions, and slashing electricity bills. All these steps make both environmental and economic sense, but actually realizing these ambitions can be fraught with hurdles. EnPowered’s Payments platform removes those hurdles, allowing energy solution providers and their customers to leverage the cleantech revolution to boost their bottom lines. Actualizing your energy projects has just become far simpler, more convenient, and more transparent. Reach out to our team today to discover how EnPowered Payments can boost your sales, capture new opportunities, and distinguish you from your competitors.