By Editors of Power Engineering
Though numerous large businesses have already embraced renewable generation, a new report by Deloitte indicates smaller businesses will soon join the trend.
The Deloitte Resources 2017 Study indicates companies below $100 million in global revenue and those with global revenue of up to $500 million are now exploring ways to invest in wind, solar, energy storage, migrogrids and other technologies. In particular, 56 percent of small companies are looking to procure renewable electricity, compared to 41 percent of mid-sized businesses and 47 percent of large businesses.
However, their smaller size means their strategies will differ from large companies, and may require different structures in power purchase agreements as well as simpler access to renewable energy.
In response to the demand, electricity providers are starting to explore new options, including “green tariffs” that lend flexibility to rate negotiations, green power programs that let local renewable sources into markets that would otherwise lock them out, and renewable energy credits.
Deloitte suggested multiple new strategies for electricity providers to cater to smaller businesses, including services and options for a variety of risk appetites and maturity levels, financial-based solutions, continued “greening the grid,” aggregated supply options and turnkey solutions.
Among all companies not actively working to purchase renewable energy, 58 percent of them said combining renewables with battery storage would motivate them to do more.