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Posted 4 years ago | 3 minute read
GridBeyond Releases Free Tool to Calculate Value of Energy Flexibility in I&C
GridBeyond, the leader in intelligent energy technology, have released a free online tool – the Energy Opportunity Calculator. The tool is designed to enable industrial and commercial businesses to learn how much money they could earn and save through demand response and energy optimization services.
The Energy Opportunity Calculator draws on GridBeyond’s extensive experience in the energy markets and engineering knowledge of site assets and inherent flexibility. Energy users simply enter three pieces of information: location, industry and electricity consumption (in MW, kWh, MWh or electricity spend), and the output is the financial benefits their site could gain access to.
The result is split into two sections, revenues and savings, and uses the typical percentage of flexibility for the user’s industry, the typical services and programmes available to that industry, and the values of those programmes to generate the results. The revenues are based upon demand response and capacity opportunities, while the savings are based upon typical energy efficiencies, trading and price optimization opportunities, as well as the operational efficiencies that can be attained. The user can then download a bespoke, personalized report containing further detail on their results, with additional information on the services they can participate in, the assets typically found in their industry, and an overview of their market.
Michael Phelan, CEO & Co-Founder of GridBeyond commented,
“In our mission to simplify the complex energy market, the Energy Opportunity Calculator provides industrial and commercial businesses the possibility to understand their potential earnings and savings without undertaking a full audit.” He continued, “We found that, from an end user’s perspective, the visibility of a site’s value in the energy markets is often clouded. Service providers talk extensively about value per MW, but don’t necessarily have the knowledge of application to ascertain the amount of flexibility actually available within particular industries and the breadth of services both within and outside of DSR.”
“This tool does not negate the need for a full audit by any stretch. We understand there are nuances and differences from site to site, however we also understand the value to our prospective clients in learning what they could earn and save. It’s a tool to start conversations within businesses based on our own benchmarking from years of working within energy management and demand response for industrial and commercial sites.”
Mark Davis, Managing Director for UK & Ireland at GridBeyond added,
“There’s no denying that Covid-19 has significantly impacted industrial and commercial businesses. Bottom-lines will have taken a hit, whether due to closed production, the cost of increased safety measures, loss of sales, or otherwise. We consistently encourage businesses not to overlook energy as a source of backfilling some of this lost revenue, and this tool will enable energy users to truly understand the scale of the opportunities we’re talking about. We can’t guarantee returns, as the markets are continually changing, however we can use the market knowledge we have to determine a site’s worth.”
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