August 13, 2019
The commercial and industrial sector requires large amounts of energy to operate efficiently — which means the cost of electricity is high. These costs can eat into your business's wallet, sacrificing profits for utility costs. With energy costs so high, you can offset your electric bill by switching to a renewable energy source like solar, while also storing the extra energy that is not being used.
Renewable energy sources are expensive in terms of upfront cost, but you can explore ways to reduce your electricity bill and profit from the excess energy produced by your system. By installing a large solar system you can connect your business to power at peak times and store the energy when demand is low. Solar systems are reliable, energy storage-friendly, and can be a source of profit when excess energy is being generated under the hot summer sun.
The cost of power is rising for the commercial & industrial sector due to the change of utility tariffs for many of these companies. Despite company investments on more energy efficient vehicles, many of the issues lie on the power grid. Particularly in peak times during the business day, when there is stress on the grid. On top of this, businesses also need to think about lessening their usage of fossil fuels. Many utility companies brought in tariffs for energy, hoping to reduce energy use during peak hours. The goal of these tariffs was to shift energy use to off peak times, like early morning or late at night. The issue with this though, is that many of these businesses need energy 24/7 — whether they're open or not. Supermarkets, for example, will always need energy running through the night to keep the fridges cold. Many of these companies have been targeted for demand management, but with limited effectiveness because of the high energy demand of such facilities.
Choose Solar Systems & Solar Storage
Choosing a system with significant solar PV capacity could be the answer for a business looking to save money on electricity. Using solar panels and solar battery storage will allow you to store significant amounts of energy for peak times — as well as keeping you safe in the event of a blackout. This would be exceptionally useful for facilities who need refrigeration or energy usage for long hours of the day. Using solar systems and solar storage will also allow your business to generate an abundance of energy — maybe even more than your store would need. When excess energy is produced, it can help reduce the cost of your electricity bill. In fact, you could even profit from this process. As well as saving moeny, solar and storage can help reduce the excess fossil fuel waste that is polluting the earth. Importantly, this type of solar battery storage also typically lasts longer than your standard lead acid battery.
Solar battery storage is a great way to save electricity for scenarios like power outages, or even just a regular day requiring an abundance of energy due to hot, humid weather. These batteries are controlled by intelligent software that will predict peak battery usage by charting use over time. The software of these batteries reduces costs by adjusting the supply of energy accordingly. Commercial & industrial companies can save according to their required energy usage.
Rebuilding a Strong Energy System
Many companies are switching to solar energy and solar batteries — not only to reduce the cost of their utility bill, but also to put the reliability of their energy source into their own hands. Due to the frequent power outages that cities are experiencing, the reliability of the traditional grid has decreased over time. In the coming years, power outages will be more frequent due to aging infrastructure and impending climate change. With the weather triggering more violent storms and freezing blizzards, potential issues for transmission lines and substations are likely. Natural disasters and wildfires — like those seen in California lately — have been a wake up call for many big utility businesses, who need to find ways to shut off high voltage electric lines. This means that many businesses will lose a lot of power, not just on the day of a natural disaster, but for the days that follow.
From weather issues to wildfires, older energy models have become less and less reliable. Having a reliable, durable, and safe energy source is vitally important for the C&I industry. In the years to come, reducing costs, saving energy, and having a renewable energy source will be an invaluable asset for a company looking to keep things running smoothly.
By Kasey Liu
Interested in cutting costs for your business? Get in touch with YSG today — call us at 212.389.9215 and we can plan the right solar-plus-storage project for your needs.
Sources:
https://www.utilitydive.com/spons/storage-efficiency-for-ci-demand-management/548508/
https://pv-magazine-usa.com/2017/06/29/energy-storage-is-already-cost-competitive-in-the-ci-sector/