In this article, Alex Hunter, CEO of Sherwood Power, sheds light on how businesses can save both money and time by investing in onsite battery storage for renewable energy. With the escalating cost of energy in the UK, coupled with the need to embrace sustainable energy practices, investing in renewable energy storage can be a game-changer for businesses. Fortunately, generating renewable energy within a business is simple. Solar panels, biofuel generators, and wind turbines are just a few examples of renewable energy sources that businesses can invest in. By installing energy storage onsite, businesses can ensure access to the electricity they produce whenever they need it, leading to cost savings and reduced inefficiencies in the energy system.
To fully comprehend the benefits of investing in onsite renewable energy storage, it is essential to understand the inbuilt costs and inefficiencies in the current energy system. Tantamount of the cost of electricity comes from transmission losses. Businesses can effectively eliminate these losses by generating electricity onsite, thereby reducing the cost of electricity. Indirect costs of levies and taxes, aimed at making the grid greener, significantly inflate electricity costs. By contrast, on-site generation sources such as solar panels offer electricity at a much lower cost of between seven and ten pence per kilowatt-hour. Battery storage is a game-changer for businesses that install more solar panels than they need to power their operations, as any excess energy produced can be stored in batteries.
In conclusion, investing in onsite renewable energy storage is cost-effective and improves the efficiency of the energy system. Renewable energy storage leads to reduced costs and, consequently, increased savings for businesses, which can be invested in other areas. Therefore, businesses should consider investing in onsite renewable energy storage to remain profitable and support sustainable practices.
