Businesses Urged To Combat Energy Price Hikes
With energy prices becoming increasingly volatile, businesses across the regions are being urged to consider onsite energy and heat generation to save money, while also protecting natural resources.
Andrew Rollo, Head of Energy at George F. White, said: “Subsidies are reducing while energy costs are rising. The government FIT scheme for wind turbines is currently fully subscribed and grants for technologies such as solar have been greatly reduced over the past three to four years. This has dramatically reduced the attractiveness of projects which create and export energy.”
“At the same time, purchasing energy is more expensive than ever for businesses across all sectors. Onsite generation can create power for as little as 3p per kWh, which is why looking into generating your own power or heat is an essential element in forward planning for businesses.”
There are several technologies that can protect businesses against the volatility of the energy market, including ground source heat pump systems which provide good returns for those firms currently using fossil fuels to provide heat for processes, working environments and storage spaces. There are other initiatives that help shift consumption away from peak periods such as the emerging battery storage market and Demand Side Response Scheme. These are available at zero capital cost; the investment being made by a third party with benefits being shared between developer and consumer. When businesses generate their own power, they can effectively fix their energy cost for up to 25 years, which not only creates huge savings but also enables effective long term financial planning.
Andrew added: “We work independently with a wide range of businesses that consume large amounts of energy or heat, helping them to identify and deliver sustainable energy initiatives that will benefit their bottom line. We perform feasibility studies which enable clients to understand the specific benefits of the project and any associated risks before embarking on a particular energy project. Once an initiative is under way, we work closely with the client, offering a turn-key service to take the project from initial feasibility to final commissioning. On completion of the project, we can then manage the asset appropriately to optimise efficiency and ensure its profitability and longevity.”