4 ways that onsite renewables could help your business post-Brexit
21st March 2019
Whatever the eventual outcome of Brexit, energy market volatility could still affect your business. With this in mind, we explore how you can take matters into your own hands and mitigate the impact.
Read more below:
While Brexit brings with it a degree of uncertainty, recent reports suggest that it’s unlikely the trend of rising energy prices will end any time soon. What’s more, Haven Power’s latest research also concludes that market and price volatility is possibly with us for the short term at least.
For this reason, many businesses in the UK are choosing to reduce the risk of market volatility by installing renewable electricity generating capacity on their own premises.
And, if your business also invests in onsite battery storage, you can benefit in at least four ways:
1. Security of supply and price predictability
Having a secure supply of electricity at a predictable price makes budgeting simpler and protects your business from the effects of rising Third Party Costs. It can also enable your organisation to continue “business as usual” in the event of any interruptions to your power supply coming from the Grid.
Adding battery storage to the mix also gives your business greater flexibility, since you get the option of making the most of wind and solar power when it’s available. That’s because you can either use these renewable sources to match your immediate demands or to charge the battery; either can help you reduce your Grid-related costs.
2. Additional income, from the Grid…
Onsite renewable generation allows you to add an income stream to your business. You can profit as a prosumer simply by selling any of the surplus electricity you generate onsite back to the Grid.
3. ... and from suppliers plus other third parties
If you’re a large-scale business, you may find it advantageous to use Power Purchase Agreements (PPAs) - contracts that allow you to sell any surplus electricity you have to suppliers and other third parties.
This means that as a prosumer, with or without a PPA, you can turn electricity from a cost into a potential source of revenue.
4. Carbon reduction and more
Onsite renewable generation can also help your business meet its corporate social responsibility (CSR) targets by reducing carbon emissions. In fact, if you’re not quite ready for generating your own renewables, you can boost your CSR credentials simply by switching to a supplier that provides renewable electricity.
With or without battery storage, the idea of installing renewable generating capacity on site may seem daunting. This is especially true if you don’t have an in-house energy expert, and if you’re worried by the uncertainty around energy market volatility in the light of Brexit. If these sound like familiar concerns, you should explore the options with an energy services partner.
Find out how Haven Power can help your business reduce the risk of energy market volatility through self-generation - get in touch with our contact form.Contact us
How will Brexit affect your business energy? Get certainty in an uncertain world.
As the deadline for leaving the EU approaches, we consider the implications for business energy, and show how fixing your third-party electricity costs could...
Weekly Energy Report - Brexit uncertainty increases UK prices
For an update on changes in the energy market over the previous week, read our Haven Power market report. Here’s a summary of the...
Why more businesses are switching on to the benefits of battery storage
Battery storage is now more economical than it’s ever been. According to the experts, battery pack prices have fallen by more than 75 per...