Bloom Energy offers 10-year contract for cheap energy off the power grid

Bloom Energy, operating from the Silicon Valley, is pioneering a clean power source dubbed the Bloom Box. Until now only major corporations have had the budget to implement Bloom Boxes for clean power off the grid. To solve that issue Bloom Energy has created the Bloom Electrons program to eliminate the Bloom Box’s upfront costs. This could help many individuals get Bloom Box without needing a cash advance to sign up.

Details about the Bloom Electrons program

Bloom Energy made a splash within the clean energy industry last fall with its introduction of the Bloom Box. The Bloom Box is an “energy server” that produces electricity with a chemical reaction and extremely low carbon footprint. Each Bloom Box costs more than $700,000. The price has brought on the number of Bloom Energy customers to be fairly low. Businesses consist of Bank of America, FedEx, eBay and Google. More people might want Bloom Boxes with the Bloom Electrons being created. In order to do this, Bloom Energy has partnered with Credit Suisse and Silicon Valley Bank. There are 10 year contracts for electricity offered by Bloom Electrons that will give a fixed rate for onsite Bloom Boxes.

Bloom Electrons powered by clean energy subsidies

There are not upfront costs for businesses to use Bloom Box meaning the corporations can go off the power grid with Bloom Electrons. Companies that have already purchased Bloom Boxes up front expect to recoup the cost of the unit anywhere from three to six years after they are installed. Corporations can use Bloom Electrons to start saving 20 percent immediately with Bloom Energy. What is being paid in CA is what can be saved. At present, Bloom Electrons only pencils out in California. Electricity currently costs about ten cents per kilowatt-hour. This is average within the U.S. Bloom Boxes can produce power at about 14 cents per kilowatt-hour. Bloom Electrons energy comes down to about 7 cents per kilowatt-hour with the CA subsidies and federal clean energy incentives.

Using the Bloom Box global

Bloom Energy said the Bloom Box will offer companies a competitive power advantage without the need for subsidies in three to five years. The Bloom box production will have to go up first so that the Bloom electrons system demand could be met. One Bloom Box a month was created by Bloom Energy two years back. One Bloom Box a day could be shipped now. The developing world might be able to start getting clean energy if Bloom Energy can be able to increase production however decrease production price.

Information from

Business Week

businessweek.com/technology/content/jan2011/tc20110120_212633.htm

TechCrunch

techcrunch.com/2011/01/20/bloom-launches-financing-service/

Reuters

reuters.com/article/idUS9777404420110120