How to Save on Utility Bills and Become More Sustainable
A new report from Navigant Research states that best practices are helping to make improved on-site energy management feasible for industrial manufacturers looking to save on utility bills and achieve sustainability goals.
In the report, Boulder, Colo.-based Navigant Research, which provides market research and benchmarking services for rapidly changing and highly regulated industries, explored the onsite management of large manufacturing energy loads and examined energy management decisions within a broader sustainability and clean-energy procurement context.
Navigant Research concluded that falling costs of distributed energy resources (DER) technologies along with evolving financing mechanisms and new business models have benefitted industrial manufacturers, which are responsible for 40 percent of total energy consumption worldwide.
“Onsite generation, energy storage and fleet electrification technologies can pair with more traditionally implemented combined heat and power and other energy efficiency measures to add new value to manufacturing sites,” said Jessie Mehrhoff, research analyst with Navigant Research. “Manufacturers that reduce emissions are more likely to remain attractive to the customers they supply by helping to reduce supply chain emissions. In addition, physical assets onsite allow manufacturers to demonstrate sustainability leadership.”
To position themselves for success, manufacturers need to take a holistic approach to energy management by identifying sustainability targets and exploring the variety of solution sets able to meet their needs, the report recommends. Manufacturers should also consider various business models to improve financial feasibility, and aim to capture the value stack and synergistic benefits generated by multiple DER technologies.
To read the report, click here.