The UK’s green transition is sweeping grid-scale generation and many business energy eco-systems too. However, there is still a large number of businesses yet to leap into a fully-fledged green energy project and take control of their energy use and spend…
Whilst some businesses have fallen into the unfortunate trap of greenwashed electricity supply (we’ll cover this in more detail in another post), the only ways to truly obtain green energy is via:
a) Investment in on-site green energy projects, such as solar, storage and EMS.
b) A renewable investment or partnership tariff supplier (such as Good Energy), not just a purchaser of REGO certificates.
c) A combination of both.
Here’s why there’s no time like the present to invest in I&C on-site green energy projects in the UK:
1. Tax super deductions
In a bid to boost the economy and drive capital expenditure in the industrial and commercial space, Rishi Sunak announced in April a 130% first-year capital allowance for qualifying plant and machinery assets; and a 50% first-year allowance for qualifying special rate assets. This can be applied to solar panels, electric vehicle charge points, CHPs and heat pumps.
2. Competitive advantage
Enhanced brand image gives I&C businesses a competitive advantage. Societal perceptions mean that customers are more inclined to buy from companies with a clear sustainability strategy. Wattstor can help with that, and the portal interface delivers all the analytics a business might need for reporting on % of renewable usage, carbon savings and more.
3. Carbon taxes
Carbon taxes are likely to become more prevalent in businesses, so in addition to reducing the commodity cost of electricity, using a solution like Wattstor’s in tandem with a renewable and storage project will ultimately reduce, if not eliminate, some of these taxes.
4. Employee Retention
Employee retention and overall satisfaction improve when businesses boost their green strategies. According to Adecco, an international HR company, 52% of employed adults feel their companies should be more environmentally aware. This demonstrates a significant shift in how employees value environmental ethics in the companies they work for.
5. Investment in green strategies could mean investment in your business
Green businesses are more likely to receive investment. “The Investor Revolution” is well underway, as sustainable investing is making waves. This is in no small part because the big investment companies see the risk climate change poses to their overall portfolio of assets, but also because those that are investing in sustainability strategies are deemed to have a handle on risk management and a driver for innovation. Research by HSBC has shown that shares in companies focused on environmental and climate issues outperformed others during the initial stock market turmoil caused by the pandemic.
6. Electric Vehicle Charging Points (EVCPs) are about to get a £300m investment
This investment, recently approved by Ofgem, is anticipated to drive (excuse the pun) a surge in overall EV uptake. Customers and employees will require, nay demand, charging points when they arrive on site. Whilst charging points deliver a greater customer and employee experience (which has financial merit in itself), the right EMS technology can also unlock additional flexibility to play in the markets, deliver significant savings, and create some excellent cases for ROI.
A recent survey by Centrica showed that almost half of business are planning to install charging points. Of those polled, 46% are planning to install charging points, although 37% have already installed the infrastructure. Additionally, 30% have already invested in on-site generation technologies to charge their EV fleets, such as solar panels. It’s worth getting ahead of the curve to differentiate your business, and to start using charging points to your financial advantage.
7. EMS Technology is now future-proof
Technology has come a long way since the green movement started. Experts in the industry, especially those at Wattstor, now know so much about both energy technology and the direction of the energy markets that the technology is built to optimise energy generation, storage, use and participation in markets for the foreseeable future.
Platforms like Wattstor’s iMP also ensure maximum return on investment by collating data on grid constraints, weather, load and EV charging forecasts, site operational parameters, and dynamic pricing signals. The iMP algorithm calculates and schedules the most effective use of energy and creates the best ROI.