Today’s businesses not only face the challenges like rising costs and uncertain utility prices, but also has being tasked to do more with less money and fewer resources. UAE-based solar developer Yellow Door Energy aims to address these issues by helping save money, control energy costs, reduce carbon emissions, and enhance customers’ sustainability objectives. “The ability for local and centralised solar generation has been steadily decreasing, while the cost of ‘plug-power’ -(the cost paid for power someone consumes from the grid)has been increasing,” explains co-founder and CEO Jeremy Crane.
Noting that capital is often a barrier to implementing new energy solutions, Crane, along with Adenium Energy Capital. It is one of the leading solar investor in the Middle East, which has funded US$500 million in solar projects globally, partnered to launch the startup in 2015. “I believed then, and I still do today, that energy is best provided as a service,” says Crane. “This enables consumers to focus on their core business, while paying for the energy they need. We serve commercial and industrial businesses that share this philosophy.”
Crane, the CEO of the leading solar developer company. He has a Bachelor of Applied Science in Mechanical Engineering from the University of Waterloo, Canada, and an MBA from INSEAD in France. He brings with him his past entrepreneurial experience to the enterprise he has previously run four companies. His first solar venture in Canada in 2009 developing and financing $40 million rooftop solar projects. “I believe that I was drawn to engineering, because I enjoy the challenge of trying new ideas, building on them until they became a reality,” he says. “The metrics of success in solar energy are easily measured: the impact on people (employees, customers), the environment, and the value creation through equity appreciation of assets.” With this mindset, it aligns perfectly with the enterprise’s two core offerings.
First is its solar lease- a performance-based long-term contract wherein Yellow Door Energy manages all stages of the solar plant from financing, to designing, procurers, building, operating, and maintaining the solar project. The customer pays no upfront investment, stays connected to the grid, and only pays a monthly solar bill once the solar plant starts producing electricity, with the customer being able to focus on their business, manage electricity costs on a long-term basis with a known solar lease payment, and also own the plant at the end of the lease. Next are its shared energy savings contracts, which Crane explains as a contractual arrangement between the customer and Yellow Door Energy. Where the company in takes in all the financing and operational risks to support the energy retrofit and manages the project with a qualified energy services company. The customer pays Yellow Door Energy a portion of the energy that is saved.
Story Source: https://www.entrepreneur.com/article/334658