Also in this playlist...
This transcript is automatically generated
For homeowners making energy efficiency upgrades often sounds more expensive -- its work.
But sealed CEO Andy frank -- it's just not true and he's willing to guarantee statements.
Thinking so much for training expecting to get real.
We -- -- you're basically guaranteeing home owners that if they make these upgrades they'll save money on their energy bills.
How exactly does that work exactly right and we're guaranteeing savings and peoples energy bills from home efficiency upgrades.
I'm in the way it works is.
After you install improvements like insulation -- -- race stock upgrades well actually replace your utility bills with a single -- energy bill -- Bill that's guaranteed to be lower than normal.
Still never have to pay another utility bill again you know get a single bill each month which you can see your savings on every single time.
What does the average savings that homeowners can expect that they -- field.
Church so we're gonna -- right now in Long Island and the average savings that -- guaranteeing about 800 dollars per year.
Which means it's 300 dollars that's in your pocket.
But she didn't have before each and -- recently.
What happens that the upgrades don't exactly work ethics that -- the risk that we take on it turns out there's actually a lot of variance in how much someone's gonna say it's a while an average home might save a hundred dollars that we're guaranteeing.
I'm each -- each individual home might only -- 300 dollars or that same -- -- -- 14100 dollars and we're taking that risk -- those savings are going to be there.
And how concealed make money out so we take a small part of the savings and so we're basically -- our business that you're gonna save energy and if you don't say if we don't make money.
This isn't your first time running an Energy Star that.
Coming a little bit more about your previous company efficiency can point out -- so prior to starting sealed I was one of the early employees at a company called efficiency to -- -- we created software that help people save energy giving them really good information.
And rewarding them based on saving their energy we sold to utility companies across the country and one thing that I really -- there is it's not just enough to get people -- information that's a great first step.
But really what people want is certainty and they want -- guarantee that they're gonna get the savings of their promised on all the research backs that up.
Efficiency can point out with a fired cracked up we -- required time in 2012 by a company called C three energy which is -- out in California.
Based on your successful and that was it easier to raise funding -- -- Makes little easier yeah I mean I think you know every business -- go out front is is judged on its own merits but -- you know having having a successful exit.
I was able been able to prove to others that I can that I know how to build the business and I knew create revenue and audio manage things properly.
What are the upgrades that save homeowners the most -- church said that's number one thing that everyone should do.
-- air seal their house on it turns out that there is.
Thousands of tiny air leaks run every single person's house that you can't see we can't -- -- -- -- a special equipment.
I'm it's the equivalent -- -- keeping a window open all year long so you're wasting a lot of energy.
There is coming in and out here I'm comfortable.
I'm and so one of the reasons I mean the company sealed is because that's one of the major things that work on helping people do to their home and guaranty savings based on.
What are the average cost of the upgrade -- I'm sure so you know depending on what you wanna do it can be a couple thousand dollars.
All the -- -- to you know 25 or 30000 dollars depending if you need to replace.
-- boilers air conditioning systems in your home -- we're seeing an average cost of about 101000 dollars.
I'm -- usually that can actually be financed so that your cash flow positive immediately that the amount of money that sealed guarantees that you're gonna save.
Is actually going to be greater than the amount that you're going to be spending each month on those upgrades who's financing -- upgrade.
So there's a variety of on state utility programs -- across the country here in New York this program called on bill finance and that will give you a fifteen year 3.5 percent interest free -- on to -- qualified improvements.
-- just moved on to the finals of the US clean tech open how to prepare for competition like.
You prepare with a lot of time getting a lot of feedback on and practicing a lot.
I mean we've been we've been lucky to have -- some amazing mentors so far and a lot more folks that were that were involved in and the northeast down.
-- regional competition that we're able to give us additional feedback and help so.
Can be practicing hard sharpening the pencil and now hopefully I'll do -- -- sinners that what we're winning the competition mean for the company.
Our first and foremost -- -- great let it be great recognition.
You know obviously is a small company the hardest thing.
Is to get someone to notice you -- to develop the partnerships and track investors and all that good stuff on the -- also be great recognition of a new movement that's been -- -- really growing in the energy space called clean lab.
I'm which relies on software and business model in addition to basically take the next step.
In meeting our energy challenges rather than just relying on hardware and answered traditional technologies.
Think -- so much for joining me here -- Yeah.
For Fox Business -- com I'm Dan Brown hair out.
Filter by section