This page outlines commonly asked questions relating to Websters Group co-investment in energy efficiency upgrades.
What percentage of project funding is available?
No limit on funding is placed on funding any individual project. This is a decision made between the business owner and Websters Group. Given it is a Partnership a suitable share of cost is appropriate. Consideration is also given for whom assumes Technology and Performance risk relative to their direct financial investment. If Websters Group provides 80% funding for a project, the value of these risks would be calculated within our expected return.
How do you make money?
Yes we are a business and we do make a financial return off our investments. While we have encouraged energy retailers to adopt our business model, we feel they are only interested in charging high energy prices and not reducing their margins. Within a solar project, we undercut energy retailers by selling solar energy at a guaranteed lower price long term. This is then used to pay off the system. The fact that our business model exists and your are able to get valuable equipment upgrades, instead of wasting your money on day time energy without something for it, is testament to the high margins retailers charge. A new model is now possible!
Do you have customer service?
Of course! Our friendly and knowledgeable customer services reps are available to answer your questions 24/7/365.
Is this Government Funding?
No, we are a private company.
Can I pay for my upgrade and exit the partnership?
Yes, you are able to pay off the upgrade at any point by paying the remaining balance of savings.
Why would I not just pay upfront for the upgrade?
Of course you can, we do want to demonstrate however that we are able to be financially accountable for the savings estimates put forward. There is value in sharing technology and performance risk. We believe the 'upfront sale' model is dead and suppliers should be financially accountable for the savings performance of upgrades - that is exactly why we created Energy Efficiency Partnerships (EEP).
What happens if we sell the business?
We take care in whom we invest in. If we have decided to co-invest in an upgrade at your site we are making a direct investment in you and your business. We do not transfer contracts to new owners and require the balance of equipment cost to be paid out. We ask our clients to consider this when deciding to enter a EEP contract. Fortunately our contract terms are 3 - 5 years given we are able to find high return energy savings projects to reduce this risk for both parties.
What if the price of energy reduces?
Pending on the contract, we typically charge you less and absorb this risk. We are reasonably expected to understand future energy pricing and will make clear in our contract whom assumes this risk, all factors considered.
Can my electrician or supplier perform the install?
A core part of our business model is supplier due diligence, compliance and insurance. We are not able to use vendors outside of our very carefully selected group. Given the large investments and risks we are taking in bringing this model to market, we are sure you can appreciate that there needs to be a very strict supplier compliance program. Given we are funding projects, we have a direct vested interest in ensuring installations also meet our insurance requirements. This has benefits for the customer in that you can trust our vendors as they have passed a robust assessment process and also comply with our values of transparency, accountability and integrity.
Can I apply next funding round?
No, this is the last funding round (5th December). We will be verifying savings until 2020 before we consider expanding.