Companies that invest in integrating renewable energy and more efficient technologies can gain competitive advantages: lower operating costs, increased reliability and stronger customer preference. The biggest hurdle for many businesses is turning the opportunity into action in their operations.
 

According to an Energy Efficiency Movement survey¹, more than nine out of 10 surveyed companies planned to make energy efficiency improvements within the next three years. Nearly half reported aiming to become carbon neutral within five years.
 

The reality is harder. Companies face obstacles from funding to identifying where to start in incorporating new technology without disrupting operations.

As service models and technologies evolve, there are new cost-effective solutions for solving common challenges. These options help accelerate implementation of renewable energy and efficiency improvements. Here’s a look at three ways businesses can move forward with decarbonization and efficiency investments.
 

1. Find the right experts to build a custom roadmap 
Not every business has the in-house expertise for managing technology investments and implementation without risking downtime. The good news is this isn’t a journey businesses need to take alone.

Advisory services like ABB Navigate can bridge technical skills gaps and guide businesses through their energy transition journey. ABB Navigate helps customers develop a customized roadmap to achieve their goals while protecting uptime. From energy consumption assessments to expert guidance on sustainable electrical distribution systems, this service helps businesses turn aspirations into progress against targets for energy efficiency, productivity and cost savings.

2. Add energy storage for flexibility and cost savings
Renewable energy is intermittent. The sun doesn't always shine, and the wind doesn't always blow. This makes a battery energy storage system (BESS) a critical tool for gaining resilience. BESS stores excess renewable energy for when it’s most needed.

ABB’s BESS-as-a-Service (BESSaaS) helps businesses unlock energy storage capacity without upfront costs. In this model, a BESSaaS partner takes care of everything needed to build and operate a BESS including financing, insurance, and implementation to commissioning, maintenance and cybersecurity. Businesses simply pay a quarterly fee.

Shifting from a CapEx to OpEx structure eliminates the need for major capital approvals, speeding up BESS implementation. Businesses also gain savings from not needing to hire personnel or invest in technical training for BESS operations.

3. Optimize energy use with digital solutions
Effective energy management involves piecing together a complex puzzle of energy demands and supplies. The latest digital solutions integrate artificial intelligence technologies to transform complexity into a competitive advantage.

AI-powered energy management systems evaluate interconnected variables both inside and outside the walls of an industrial site. For example, ABB Ability™ Nsight™ integrates data sources such as weather, market rates, equipment performance and industrial process outputs. This helps companies analyze, optimize and predict their energy usage and costs for strategic real-time decision making and even automated controls.

Using these tools, businesses can store energy when prices are low and use it to help offset peak demand periods when energy prices surge. This is especially important in places where energy prices can spike dramatically. AI-driven peak shaving can save companies significant energy costs and power better outcomes.

References:

1. Energy Efficiency Movement survey