SolMicrogrid has introduced a new energy-as-a-service (EaaS) program aimed at developers seeking quick exits from solar and microgrid projects nearing completion, offering upfront capital in exchange for project handover.
The program enables developers to transfer projects while providing host customers with no-capital-expenditure energy under long-term service agreements, the company said on Monday. SolMicrogrid added that it has capital to acquire a range of assets, including rooftop solar, battery storage, generator sets, electric vehicle infrastructure and advanced microgrids.
EaaS agreements allow businesses to pay for energy services without owning or maintaining infrastructure, either through subscription or pay-per-use models. According to SolMicrogrid, the agreements typically offer renewable energy at discounted rates compared with traditional utility tariffs.
“Project originators receive a clean, fast exit and upfront payment. Host customers get predictable energy savings without ownership complexity, and SolMicrogrid assumes long-term operations, maintenance and performance responsibility,” CEO Kirk Edelman said in a statement. “It’s an elegant solution to a common challenge.”
EaaS models have long been used in capital-intensive sectors such as healthcare but are now gaining traction in commercial and industrial markets, where financing and project complexity have slowed adoption of clean energy. The National Renewable Energy Laboratory estimates solar operations and maintenance costs can range between $15 and $25 per kilowatt annually, with expenses increasing as equipment ages.
Earlier this year, Chick-fil-A signed an EaaS agreement with SolMicrogrid for an onsite solar array and storage system, expected to cut energy costs by about 10% and supply a third of the location’s power needs without upfront expense or maintenance obligations. SolMicrogrid also launched its “Array to Microgrids” service, allowing business owners to sell aging solar assets for cash while transitioning to managed microgrid systems.
