Siemens Financial Offers ‘Outcome-based’ Financing for Energy Storage
August 7, 2017
Using SIESTORAGE technology companies can defer electricity purchases from peak times to cheaper periods. The modular system, which is based on Lithium-ion battery technology, typically suits customers with on-site consumption of between 1 MW and 100 MW, according to SFS.
Energy storage solutions present a valuable option for many businesses but many lack the financial capital to purchase storage technology outright. SFS says it can help organizations overcome the challenges of energy storage solution acquisition by tailoring financing packages to suit the cash flows of each customer.
The ‘outcome-based’ financial model means that customers’ payments are based of the battery’s output, rather than outright purchase for the battery itself.
Bridgit Hartland-Johnson, Head of Energy Storage - Siemens Energy Management, said: “SFS’ specialist pay-for-outcomes offering, combined with world-class technology, provides an excellent opportunity for organizations to access new and cost effective business solutions. For the majority of companies, electricity is an unavoidable cost, however, these costs can be significantly managed and reduced through careful control and innovative business ideas.”