How manufacturers can profit from energy sustainability
Committing to a net-zero emissions strategy makes perfect business sense for industry. We've joined forces with edie to publish a new insight report to help manufacturers deliver on their sustainability goals.
If 50% of UK manufacturers updated their energy infrastructure with green distributed energy technologies, our financial modelling shows that they could boost UK productivity by £12.9bn and achieve 7.2m tonnes of CO2 savings.
Our latest research also reveals that sustainable business leaders, who see energy as an opportunity rather than a cost burden, are likely to have stronger finances. These forward-thinking organisations recognise the importance of integrating energy sustainability into long-term business strategy to ensure that they deliver on emissions reduction goals.
Read the full report Mission Possible: Achieving a net-zero carbon future for manufacturing
Four steps to profit from sustainability
How can manufacturers take control of their energy strategy to profit from sustainability? We recommend a 4-step approach:
1. Improve your energy intelligence
If you don't have a detailed view of how, when and where you are using energy how do you know where to focus your energy saving strategy? Start by using Internet of Things (IoT) software analytics and monitoring technologies to gain real-time energy insights across your entire sites - right down to equipment and process level. This will uncover hidden energy waste and pinpoint the best carbon and cost reduction opportunities. It will also inform investment in energy efficiency solutions, as well as improving operational performance.
2. Optimise your energy efficiency
The lowest carbon, cheapest unit of energy is the one you don't use, so make sure that you aggressively drive out all energy waste across your site, including your equipment. Consider investing in measures such as LED lighting, and energy control and management systems to ensure you minimise consumption.
3. Shift to low carbon, low cost onsite generation and storage
Use high efficiency Combined Heat and Power (CHP) and solar do deliver cost savings and work towards carbon reduction targets. Enhanced results can be achieved by combining battery storage with solar to create hybrid renewable systems, which typically increases utilisation of renewable solar power by 30 to 40%.
4. Maximise income from power flexibility using Artificial Intelligence (AI)
Take your energy optimisation all the way by gaining even more value from your energy consuming assets, onsite generation and storage. Our AI platform can automate dispatch of your flexibility to monetise the most lucrative market opportunities – from month ahead through to real-time, including demand side response, wholesale markets and grid balancing opportunities.
In this way you will also support the decarbonisation and stability of the grid.