Energy and money flow savings are the number one priority for businesses right now. We had a great honor to meet inspiring building technology entrepreneurs Lasse Impiö, CEO, and Hannes Kokko, CTO of Terawatt to get insights into how to save energy and money.
It was a beautiful Thursday afternoon in September when we had a Teams meeting with the inspiring building technology entrepreneurs, Lasse Impiö CEO, and Hannes Kokko, CTO of Terawatt. They both have over 10 years of building technology experience.
Terawatt is a trusted partner offering high-quality electrical and automation services helping companies, households, and housing associations to succeed in building technology projects.
"Our team is extremely committed to the project, which means that we at Terawatt keep both the budget and the project deadlines. Getting our long track record into the project back from day one allows us to bring significant savings to our customers," tells Hannes.
Terawatt's business is divided into new housing production, business and commercial premises construction, renovation services, and repair services. Renewable energy services, like electric car charging and solar power services, are an interesting growth area for Terawatt.
"We have built our business services portfolio so that it is not sensitive to the economic cycles."
You are working in the construction industry. How do you balance your business risks over the economic cycles?
"We just went through the latest macro indicators with our sales team," Lasse tells. "The consumer confidence indicator is now at its weakest level since 1996 and inflation and interest rate pressures will probably weaken it further. The crisis in Ukraine boosted the rise in material prices, but still, the volume of the construction industry was 13% higher in July than a year ago, which is an interesting situation." Lasse tells.
"At Terawatt, we have built our business services so that it is not sensitive to the economic cycles. When the pandemic started, the renovation projects fell because it was not possible for families and households to leave their homes during the renovation. At the same time, the construction projects grew when families had time to start building their own homes." Hannes tells us. "And recently, due to higher energy prices, the renewable energy projects have become an interesting growth area for Terawatt and people are asking a lot about it."
"By taking riskrate in use, we saved a significant amount of euros on an annual basis."
How do you keep your finger on the pulse of money flow?
"We operate in a cyclical construction industry, and so we have to be smart at every stage of the project," Lasse tells.
"Before a new project, we go through customers' financial resources before we are making an offer. Our business model is project business, so we carefully consider the payment terms, payment posts, and credit control by the project. And we react instantly." Lasse continues.
"We keep our customers close and take good care of the customer relationship. If our customer has challenges, it is important that we are the first ones who know because then we can find a solution together. At the same time, we ensure that our receivables are on top of our customer's priority list." Lasse tells us.
"We saved a significant amount of money back from day one with riskrate. Thanks to live risk profiles, we were able to resign credit insurance services. In addition, riskrate was connected to Microsoft NAV quickly, no expensive integration project was needed." Lasse tells. "riskrate tells us the critical business and money flow insights in real-time, and we actively monitor business analytics from Power BI as well."
"Renewable energy services, like the electric car charging and the solar power services, is an interesting growth area for us."
What does the renewable energy market look like at the moment?
"Right now, there is a major transition ongoing in the renewable energy markets," Lasse tells us.
"The higher electricity prices have reduced the payback time of the solar electricity from 20 years to a few years in a short time. Demand is strong and so is the shortage of components." Hannes tells. "We have advised buyers of solar panels to verify the terms of delivery and to work with reliable suppliers."
Electric car charging stations are on the agenda of many households right now. The electric car charging industry is young and so are the value chains, too.
"We have advised our customers to carefully compare solutions and to pay special attention that they will have the freedom to choose the operator and the components also in the future," Lasse tells us.
"We recommend investing in a good infrastructure, which makes it easy for each user to build an apartment-specific charging point themselves. You should pay special attention to power management and choose the type so that all charging stations go through the OCCT interface. This way, the charge of billing and the power management is in control." Lasse advised us.
How are you saving energy at Terawatt or at home?
"It's important that all of us try to shift energy consumption to nighttime, which in turn smooths price spikes. At home, we have turned on our machines, for example, dishwashers and washing machines, as late as possible." Lasse says: "In addition, Fingrid's free app, is a great way to monitor live electricity prices, for example."
"Each of us can save energy with small everyday actions. Lowering the home temperature to 19 degrees brings instant savings. Good seals and a door pump keep the heat inside. Wool socks can be changed already on the door, so in practice, you won't even notice the difference if the room air is cooler." Lasse tells us.
"It’s good to switch off the extra lights now. Led lights and sensors, for example, on a cloakroom or warehouse pays the investments back quickly. When leaving from home for a day, you can switch the ventilation to position "away" and turn it back to position "back", when you come back home." Hannes advises.
Terawatt, an experienced building technology service, pays your investment back very quickly. If you need an experienced electrical professional who is committed to your project and meets the budget and deadlines, contact Lasse and Hannes here.
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