mitigation strategies for energy price hikes to small businesses
DESCRIPTION
Small businesses face above inflation prices rises for the next few years. Here are some solutions to mitigate energy price rises.TRANSCRIPT
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The SME Opportunity
A Balanced Future for Cornwall
Smart Cornwall Programme
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Introduction
Wattstor design and build energy management and storage solutions here in Cornwall.
Results have been validated by Exeter University.
Winner – Best Product, Cornwall Sustainability Awards 2013
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UK Electricity Prices
Source National Grid – UK Future Energy Scenarios
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European Electricity Prices
Source - Eurostat
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Smart Meters
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Measuring
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Blackouts
Our current assessment (updated in June 2013) is that the risks to electricity security of supply will increase in the next five winters. In particular, we expect that electricity de-rated capacity margins will decrease significantly from the current historically high levels.
Source ofgem
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Blackouts
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Demand Management
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What is the Answer?
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Peak Shaving
Source - EPIA
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Smart Energy Storage
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Does it Work?
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Results
The WATTSTOR substantially maximised the self-consumption of solar PV generation and minimised the import of grid electricity at the test site during the monitoring period 1st – 31st July 2013. The daily electricity import from the utility company averaged 3.5 kWh (costing 53p at a 15p tariff rate) during July 2013 and on two very sunny days was less than 1 kWh (15p).
The electricity import (using utility company data) in July 2012 was 534 kWh with solar PV only. In July 2013 with a WATTSTOR fitted this was 107.9 kWh. This represents an 80% reduction in utility company import to the home during summer periods of high solar generation.
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Summary
• Energy prices will continue to rise at above inflation rates
• Security of supply will decrease over the next few years
• Consider local (renewable) generation
• Actively manage your energy usage
• This is an opportunity as well as a threat
• Smart Cornwall Programme can help