Blog Mike Kanellos Press Hones In On Grubb & Ellis, Serious Energy Deal
Press Hones In On Grubb & Ellis, Serious Energy Deal
Serious Energy received quite a bit of press last week when it formally unfurled SeriousCapital and revealed that Grubb & Ellis will help by offering the service to its customer base.
In a nutshell, SeriousEnergy lets commercial property owners upgrade their properties and cut energy consumption with no upfront costs. Overall energy costs go down by around ten percent, so a property owner that has a $1 million utility bill will see his or her bills go down to $900,000. But perhaps more importantly, the lower operating costs allow owners to raise rents. The sale price of buildings can also go up 10X over the amount of savings: $100,000 in savings, in other words, adds $1 million to the value of your capital.
Jesse Berst at Smart Grid News noted that the deal helps finally connect the dots between software providers and software developers.
Ucilia Wang at Gigaom compared these types of arrangements to power purchase agreements, but noted that, yes, getting property owners to listen remains a challenge.
Jeff St. John at Greentech Media surveyed the once and future competitive landscape and honed in on similarities and differences between programs.
Lisa Sibley of the Silicon Valley Business Journal noted that Serious passes along at least 30 percent of the savings to the customer.
Matt Wheeland at Greenbiz also chimed in. Greenbiz also has a great story on Taipei 101.
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