Light as a Service (“LaaS”), Off-Balance Sheet Finance Option
CorEnergy’s ‘Light as a Service’ (“LaaS”) allows you to benefit NOW! from the installation of world-class lighting equipment in return for a fixed monthly operating expense. Structured as a simple & transparent Managed Service Agreement, there is no upfront capital expenditure and no balance sheet / gearing impact. Light as a Service (LaaS) therefore allows you to focus completely on your core business operations, all whilst benefiting from a completely new, fully compliant, energy-efficient lighting scheme.
Should Light as a Service be the most appropriate option for your organisation, CorEnergy will first and foremost design, supply & install a fully compliant lighting solution. By entering into this type of agreement, we are providing you with the ‘Service’ of ‘Light’ so we also take full responsibility for maintaining and optimising the lighting scheme over the lifetime of the contract.
As your monthly operating expense will be smaller than the immediate energy savings generated by our carefully designed solution, Light as a Service projects are instantly cash positive.
For a fixed monthly operating expense therefore, you will benefit from immediate improvements to your existing lighting scheme whilst achieving substantial energy savings as part of the upgrade itself. Also, as you are freed from the constraints of traditional capital budgets, CorEnergy is able to supply & install the world’s best lighting equipment meaning there is absolutely no compromise on quality to ensure budget requirements are met.
Light as a Service contract terms are flexible, from 4 to 15 years. You never own title to the lighting, but this type of agreement allows you to budget with complete certainty by outsourcing the responsibility and financial risk of maintaining your lighting scheme over the long-term. At the end of the term, we provide you with the option to cancel or extend the existing contract, or enter into a new contract with the latest generation energy-efficient lighting equipment.