While the clean energy revolution may be well underway, many businesses still hesitate to transition to a decentralized electricity system. Will having your own energy storage system or clean generation resources actually be reliable, meet sustainability mandates, and stay within budget?
We get it — you need to ensure profitability to begin reaching your environmental goals. At a high level, you know that deploying an energy storage system will help ensure your organization is doing its part to tackle the climate crisis, but how will it help your business financially?
Today, we’re breaking down the myth that clean energy technology has to be expensive. It’s possible to reach your environmental targets without breaking the bank. Not only can the initial investment be subsidized (or even financed), but the transition to clean energy paired with energy storage can improve NOI, cut operational costs, and even provide new revenue streams depending on your utility and jurisdiction. Let’s get into it.
Cut Electricity Costs
From powering machines to keeping HVAC running efficiently, commercial and industrial buildings require an immense amount of electricity. When looking to reduce operational costs, many facilities believe these costs are hard to reduce and that they’re already done what they can with efficiency measures like changing to LED lighting.
Electricity is a major operational cost and can drastically decrease the financial performance of a business. But with our energy storage software, we can help you anticipate and respond to peak demand events. The reason why anticipating peak demand is so critical brings it back to basic supply and demand fundamentals: the higher the demand, the higher the price.
By anticipating the peak demand events, we can ensure you charge your battery when electricity prices are low so that you can discharge that stored electricity when prices are high.
At Peak Power, we’ve got a strong performance record for forecasting peak demand events in Ontario, New York, Massachusetts, and California. By implementing energy storage systems paired with our software, our customers have realized over $5 million through cost savings or revenue.
Our energy storage software can help you continue to reduce energy costs without affecting output.
Create an Additional Revenue Stream
Besides powering your own facility, your facility can become a resource for those around you. With your energy storage system, electricity is stored in on-site batteries and can respond to grid signals and demand events. When demand for energy spikes, many grid operators will call on resources, like your battery storage system, to respond. In turn, you create a new revenue stream for your business as a “demand response” resource for the grid.
Many facilities have space that currently goes to waste. From vacant land to rooftops, your business can use this seemingly unviable space to capture energy from solar to power your facility, store the excess, and generate additional revenue.
Increase Energy Reliability
Grid reliability is a growing problem. Most facilities rely on the electricity generated from power stations that can be hundreds of kilometres away. The energy must make its way through transmission and distribution lines before it gets to your facility. It becomes increasingly unreliable the further it goes, increasing the chances you’ll experience outages as the intensity of weather events increases.
Even going twenty minutes without power can seriously affect your facility’s output and revenue.
With energy storage solutions, you can reduce the risk of a power outage by providing ride-through resiliency capability. In an ideal situation, your facility could generate the entirety of its electricity needs with rooftop solar and store that excess power in energy storage systems.
Jump On Energy Incentives
One of the biggest questions we get is, where will I get the capital to invest in battery energy storage systems?
It doesn’t have to be costly to turn to cleaner and more reliable energy. Most electric utilities offer energy incentives in addition to incentives provided by the government at a municipal, state/provincial, and federal level. This can drastically improve the business case for organizations aspiring to reach net zero.
At Peak Power, we’re pros at navigating these incentives and programs. For instance, New York State allows a 15-year tax exemption for any increased value that arises from a property with clean energy systems. In California, you can receive funding for installing a public EV charging station. These are just a few of the many incentives your business can benefit from.
Contact our team to learn how we can help you secure the financing needed to shift to clean energy technologies.
Net Zero Can Be Profitable
In an age when operating costs continue to rise, many facilities can struggle to put environmental issues first. But you shouldn’t have to choose between pursuing net zero goals and ensuring a healthy balance sheet.
With the help of incentives, the initial investment into battery storage, solar, and many other technologies becomes much more feasible for commercial and industrial facilities. Then, these facilities can immediately reduce their energy costs while providing additional resources to the grid when demand is high.
Our Peak Synergy energy software can help you do all of that.
Connect With Peak Power
Between aging infrastructure and rising electricity costs, the current centralized electricity system isn’t sustainable.
At Peak Power, we can help you pursue your clean energy goals with energy storage systems and software, allowing your business and the environment to reap the rewards.
Get in touch with one of our energy storage experts today!