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The energy used to heat, cool and power buildings is responsible for 28% of energy-related carbon emissions globally. Reducing the energy consumed in buildings, therefore, is an effective way to mitigate the climate impact of the building stock.

Installing power-efficient lighting, improving heating, ventilation and air conditioning systems, and introducing smart building solutions will not only cut climate-harming emissions but can save building owners significant costs through lower utility bills. The addition of solar panels and battery storage can further lower a building’s carbon footprint.

However, these energy-saving measures are often expensive to install, requiring a sizable upfront investment which may be outside of the reach of some building owners.

To address this, an “Energy as a Service” approach is proving increasingly popular to make it easier for building owners to cover the initial capital investment necessary to make their building more energy efficient. Essentially, the cost of the installation is financed over time by the savings generated by the energy efficiency measures themselves.

The approach has already been implemented in sites around the world. In the Javits Convention Centre in New York City, German engineering company Siemens installed the largest rooftop solar array and battery storage system ever seen in Manhattan. When finished, the centre will have more than 2000 solar panels, allowing it to primarily use cheap, clean energy.

Constantin Ginet, executive vice president of sustainability at Siemens Smart Infrastructure Buildings, joins The Urban Report to discuss how Energy as a Service can help lower buildings' carbon footprint by blending the costs of greater energy efficiency with the financial reward.

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