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New Energy World
New Energy World embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low carbon technologies.
How can businesses maximise their use of on-site solar power to cut energy bills? Here, Connected Energy CEO Matthew Lumsden suggests that battery energy storage must not be overlooked for any business chasing cost and ESG (environment, social and governance) benefits.
Energy bills account for 5–20% of operating costs for around half of UK businesses. No wonder investment in energy solutions such as solar photovoltaics (PV) is often seen as mission critical, to get a grip on spiralling costs.
Looking at recent investments, however, it appears that many businesses that adopted PV have put so much on site that they are now exporting a significant proportion of the generated energy. Not only that, but they’re not getting a particularly good rate for that export.
There is a sweet spot where businesses cover the maximum amount of their load and export the minimum amount of surplus energy. However, where there is an imbalance between generation and load it is evident that battery energy storage systems (BESS) can be a key component of PV investment to help achieve optimal financial benefits.