Honeywell

Honeywell provides energy efficiency, automation and energy transition solutions across commercial, industrial and public sector facilities. The company delivers energy savings and decarbonisation projects through a range of structured finance and delivery models, including Energy Savings Performance Contracting (ESPC), Energy-as-a-Service (EaaS), finance leasing and operating lease arrangements.

Honeywell supports organisations to improve building performance, reduce energy use and integrate renewable energy technologies through its building automation, industrial automation and Honeywell Forge digital platforms. The company indicated experience delivering projects across sectors including healthcare, education, manufacturing, logistics, utilities, government buildings, airports and industrial facilities. 

Energy Savings Performance Contracting (ESPC) and Energy-as-a-Service (EaaS)

Honeywell provides multiple financing and delivery structures including Energy Savings Performance Contracting (ESPC), Energy-as-a-Service (EaaS), loans, finance leases and operating lease arrangements.

Projects can include full-service design, build, operate and maintain solutions, depending on customer requirements. Under contingent finance or EaaS models, Honeywell may retain performance and technology risk and can guarantee outcomes such as energy savings or system uptime. In some arrangements, Honeywell assumes upfront capital risk, with recovery through service fees or shared savings mechanisms. 

Areas of expertise

Energy efficiency and management programmes

Honeywell delivers energy savings projects through engineered EPC frameworks using ASHRAE Level II/III audits and IPMVP-compliant analysis aligned with New Zealand and international standards.

Typical energy conservation measures include HVAC recommissioning, advanced building management controls, lighting upgrades, heat pumps, refrigeration controls, solar PV, battery energy storage systems (BESS), EV charging, irrigation optimisation, bioenergy and combined heat and power systems. Honeywell validates savings performance using telemetry, analytics and ongoing measurement and verification processes.

Honeywell Forge digitalisation

Honeywell Forge is a cloud-native building performance platform integrating telemetry from BMS, SCADA systems, meters and IoT sensors to support real-time optimisation, predictive maintenance, anomaly detection and continuous monitoring and verification.

Renewable energy integration

Honeywell’s IONIC battery energy storage platform supports microgrids and distributed energy systems, including peak shaving, load shifting, renewable integration and energy resilience applications. 

Project capability

Project size: NZ$100,000 to NZ$100 million

Honeywell applies a global project delivery methodology using internal project controls, trusted suppliers and subcontractor evaluation processes to manage schedules, budgets and project risks.

Delivery approach: Full-service project delivery including design, engineering, financing, implementation, operations and maintenance support.

Project process

Honeywell typically begins projects with a detailed assessment of existing facility performance, including:

• Energy audits
• Feasibility studies
• Energy management assessments
• Utility data analysis
• Equipment inventories
• Building drawings
• Operational schedules 

Existing control systems, maintenance practices and regulatory requirements are reviewed to establish performance baselines and validate energy savings opportunities. 

Funding and ownership

Repayment and risk

Honeywell offers financing through loans, finance leases and operating lease or rental structures. Payments linked to construction milestones and project delivery requirements may also be considered.

Interest rates are typically fixed and customised to customer and project requirements. Contract terms generally range from 2–10 years depending on the project assets and structure, with fixed monthly principal and interest repayments being standard. Seasonal repayment structures may also be considered.

Risk allocation varies depending on customer credit, project complexity and environmental or delivery considerations. Under EaaS or contingent financing arrangements, Honeywell may retain performance and technology risk and provide contractual performance guarantees. 

Ownership

During the agreement: Ownership arrangements vary depending on the financing structure selected by the customer.

At the end of the agreement: Ownership outcomes also vary according to the finance agreement in place.

Upfront capital required: Honeywell indicated it can fund up to 100% of project value. An upfront contribution based on site studies may be encouraged but is not mandatory.

Financing arrangement: Financing may be managed directly by Honeywell or arranged through third-party finance providers depending on project structure.

All information above reflects details supplied by Honeywell Limited in its February 2026 EECA Service Provider Bio Form response to EECA.