The energy grid is evolving. No longer are a few large power plants pushing energy to consumers in a singular direction. The increase of connected devices, reliance on energy to power our technology and broad adoption of Distributed Energy Resources (DERs) is changing the shape of our energy grid. Leading businesses are finding opportunity in this shifting landscape.
In life and in business, we are more reliant on connectivity and energy than ever before. There are more than 7 Billion* connected devices worldwide, excluding smartphones, tablets and other personal devices. These connections increase productivity exponentially but can also increase the risk of outages, driving businesses to consider resiliency plans, including DERs for on-site energy production and storage.
DERs provide reliable backup energy when needed and can be used as revenue generators when not. According to our own research, more than 2/3 of businesses are generating energy on-site, and of those, 30% are selling some back to the grid. DERs can also be used to participate in Demand Response programs, in which businesses earn revenue by decreasing energy consumption to help to balance the grid in times of high demand. They can also be used to manage cost through Demand Management efforts, in which businesses shift power consumption at times of high costs or grid demand in order to control energy costs.
The multi-directional flow of energy from both central and distributed resources, aggregated and managed digitally, is called a Virtual Power Plant (VPP). In a VPP, multiple sources of energy production, storage and consumption are managed digitally, controlling them remotely and in an automated fashion that allows for real-time balancing of the energy grid. This results in reduced end-user energy costs and a balanced grid, but also an increase in the use of sustainably, locally sourced energy when possible, decreasing the amount of carbon produced through traditional means of energy generation.
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