Embracing new energy networks, technologies and solutions such as EV infrastructure, battery storage systems and microgrids can support UK companies to reduce energy costs, increase resilience and achieve net zero targets.Power outages represent some of the most serious financial, productivity and customer experience challenges that can affect a business.
The fourth industrial revolution brings physical, cyber and biological systems together, challenging our traditional attitude to asset ownership. If we can buy services when and where we need them, instead of buying assets we only use occasionally, we can reduce costs. Taking a taxi is cheaper than owning a car. If we can improve the flexibility and availability of taxis, we don’t need a car sitting on the driveway, remaining unproductive for long periods.
Energy is the same. If we can buy energy infrastructure as a service, we can support the industry to move to an economic environment where energy bills are close to zero marginal cost. To achieve this, we need electricity systems that are dynamic, local and decentralised, and that produce energy that represents a fraction of the total cost of our activities.
One company looking at things differently, and trying to reframe the way we look at electricity infrastructure, is UK Power Networks Services. By understanding the strategic imperatives, growth plans and financial drivers of its clients, it can take advantage of smart energy systems and employ technologies such as battery storage, photovoltaics and electric vehicles to improve productivity, reduce the cost of electricity and cut emissions.
By thinking about electricity in a holistic and strategic manner, we can optimise the flexibility of an energy system and deliver the twin benefits of reduced costs and potential new revenue streams. For example, by generating and storing that electricity, businesses can shift peak demand and avoid high electricity costs, and also reduce overall consumption from the grid.