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5 opportunities to manage rising energy costs and sustain your net-zero plans

1) Get moving on net-zero or it will become more costly

Avoid the growing cost of inaction on net-zero by getting ahead of increasing energy costs and carbon taxes plus tighter regulation, such as the upcoming Taskforce on Climate-Related Financial Disclosures (TCFD). In this way, you’ll guard against risk and protect long-term commercial success, while also capitalising on advanced energy opportunities and incentives.

2) Use advanced data analysis for greater efficiency

Advanced energy insights technologies provide full visibility of site-wide energy consumption – right down to an equipment and process level. This identifies hidden efficiency opportunities; pinpoints operational vulnerabilities for improved resilience; and informs investment and optimisation opportunities.

The Altex Group is using our IoT energy insights solution to cut energy costs by 8%, while reducing CO2 emissions by 53,553 tons.  

3) Shift to on-site solar and energy storage

In recent months, we’ve seen the return on investment for solar photovoltaic (PV) projects increase by a third, which is largely due to higher wholesale energy costs. For one client we were predicting annual energy savings of £43,000 six months ago, but this has risen to £78,000 today.  

In addition, extreme market volatility and record high energy prices provide the perfect opportunity to deploy solar battery storage systems for peak power avoidance and to capitalise on flexibility revenues. This zero-carbon energy infrastructure will also give you a green emergency power supply, while supporting the cost-effective transition to electric heat pumps or installation of electric vehicle charging points.

4) Maximise battery optimisation revenues

Exploit higher rewards from battery optimisation by accessing the revenue opportunities across ancillary Services, wholesale and balancing Markets, Capacity Markets and future services introduced by National Grid from 2022.

Managing flexibility is increasingly complex, but there’s a big opportunity to fully exploit faster response revenue stream opportunities across multiple markets using multiple decentralised assets. As experts in developing and operating Virtual Power Plants (VPP), we use our award-winning AI technology to monetise distributed energy flexibility from the most lucrative markets.

5) Shift to electric vehicles

Take advantage of financial incentives and economies of scale to lead the move to EV ahead of the 2030 ban on ICE vehicles.  As we progress the electrification of our 12,500 strong-fleet, we’re finding that lack of fuel costs and lower maintenance requirements mean that running electric vehicles is cheaper overall. Indeed, BloombergNEF analysis predicts that rapidly falling lithium-ion battery costs will bring EV purchase prices in line with petrol and diesel cars by as early as 2023.

Advances in smart charging and Vehicle to Grid (V2G) charging technology will increase opportunities to optimise on-site power generation and further improve the economic returns of shifting to sustainable power and transport.

Act now

Why wait to pursue net-zero? Build a sustainable business model now to capitalise on the commercial benefits of decarbonisation. Download our report.

© Faversham House Ltd 2022 edie news articles may be copied or forwarded for individual use only. No other reproduction or distribution is permitted without prior written consent.

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