The global push towards sustainability has never been more important than it is today. Companies around the world are recognizing the importance of reducing energy consumption and transitioning towards renewable energy sources. Not only is this good for the environment, but it also has numerous financial benefits. By transitioning to renewable energy, companies can reduce their energy costs, mitigate risk, and improve their public image.
Creating a renewable energy strategy for your company may seem like a daunting task, but it doesn’t have to be. In this article, we will provide a step-by-step guide on how to reduce energy consumption and create energy strategy.
Step 1: Conduct a Sustainability Audit
Before you can create a renewable energy strategy for your company, you need to understand your current energy usage and carbon footprint. Conducting a sustainability audit will help you determine where your company stands in terms of sustainability and identify areas where you can make improvements. This audit should include an assessment of your energy usage, waste management practices, and supply chain sustainability.
Step 2: Gain a Deep Understanding of the Key Factors for Renewable Energy
When developing a renewable energy procurement strategy, companies must first gain a comprehensive understanding of their energy footprint and current sustainability goals. This requires mapping out what is important to the business, such as marketability or credit rating, and aligning these factors with the company’s renewable energy objectives.
Companies typically consider some key factors when making renewable procurement decisions, including energy storage, regulatory environment, technology maturity, emissions reductions, sustainability impact, local community impact, marketability, lead time, price risks and more. It is essential to recognize that different renewable energy solutions will have different implications for each of these factors. By gaining a deep understanding of the implications, sustainability managers will be better positioned to develop the right strategy for the near and long term.
Step 3: Set Renewable Energy Goals
Once you have conducted a sustainability audit, the next step is to set renewable energy goals for your business. These goals should be specific, measurable, achievable, relevant, and time-bound. Below are some examples of renewable energy goals for companies:
- Transitioning to a certain percentage of renewable energy use by a specific date (For example, you may set a goal to transition 50% of your company’s energy usage to renewable sources by 2025.)
- Reducing greenhouse gas emissions
- Installing a certain amount of renewable energy infrastructure
- Achieving energy efficiency improvements
- Obtaining renewable energy certificates
BECIS offers a comprehensive approach where energy analytics services would be the first step . Energy Analytics relates to conducting energy audits and assessments to identify areas where efficiency can be improved, and developing customized renewable energy strategies to meet their unique needs. By analyzing energy data and identifying opportunities for improvement, BECIS helps their clients make informed decisions and achieve their sustainability goals.
If your company adheres to internationally recognized standards like the Net-Zero Standard from the Science Based Targets Initiative (SBTI), you can refer to it to gain direct insights. A company aligned with this standard typically aims to reduce their GHG emissions by 30% for scope 1 and scope 2 by 2030, and ultimately achieve Net-Zero by 2050, encompassing scope 3 emissions as well.
Step 4: Seek Expert Assistance
Companies should not hesitate to seek assistance from outside experts when developing their renewable energy management strategy. The renewable solutions market is extensive, and new solutions are constantly being introduced. This makes it essential for sustainability managers to navigate the market for solutions that can gain executive support and still have manageable risk down the road.
Seeking expert assistance can involve working with professionals who have comprehensive knowledge of regulated and deregulated markets, as well as different technologies and understand how to implement renewable energy. This will ensure that companies can take advantage of the best renewable energy solutions available while mitigating risks and achieving their sustainability goals.
Step 5: Determine the Feasibility of Renewable Energy Options
Before you can implement a renewable energy strategy, you need to determine the feasibility of various renewable energy options. This may include solar, wind, hydro, geothermal energy and more. Factors to consider include the availability of renewable resources in your area, the cost of installation and maintenance, and the potential energy savings.
Renewable energy plans can encompass a variety of resources, technologies and solutions. Here are some examples:
Utilizing solar energy involves installing solar panels to convert the energy of the sun into electricity. It’s one of the most popular forms of renewable energy, and can be used for residential and commercial buildings. At BECIS, we offer a range of services to tailor their solar energy solutions to the specific needs of our clients, including designing and installing solar panels on rooftops, carports, and ground-mounted power plants.
Bioenergy is a versatile form of renewable energy that can be used for a wide range of applications, including to generate electricity, heat, or biofuels. BECIS offers sustainable biomass solutions that help reduce the carbon footprint of commercial and industrial facilities.
Cooling and Heating:
Cooling services are an essential part of maintaining working environments, and BECIS provides a range of cooling solutions which include chilled water, refrigeration, and air conditioning, and BECIS offers plant operation and maintenance services to ensure optimal performance and efficiency.
Waste Heat Recovery:
This involves capturing and reusing the heat generated by industrial processes and equipment. BECIS provides expertise in designing, installing, and maintaining these waste heat recovery systems to maximize energy efficiency.
Hybrid storage systems combine different energy storage technologies to provide a reliable and efficient source of renewable energy. BECIS offers design and installation services for these systems.
Conducting comprehensive energy audits is an essential part and a good start of renewable energy strategy goals. BECIS also provides energy analytics services, including energy audits and assessments, to help companies identify areas for energy efficiency improvements and develop a renewable energy strategy.
This involves installing wind turbines to capture the kinetic energy of the wind and convert it into electricity. But wind energy is suitable for locations with consistent wind patterns, and may not be feasible in every location. While BECIS does not provide solutions related to wind energy, it is worth considering for clients whose locations have adequate wind resources.
IRECs, or International Renewable Energy Certificates, are a specific type of Energy Attribute Certificate (EAC) that represent the environmental characteristics of one megawatt-hour (MWh) of energy generated from renewable sources. These certificates are employed in sustainability reporting for major initiatives such as the Net-Zero standards established by the Science Based Targets Initiative (SBTI). Companies can utilize IRECs to validate their sustainability endeavors, particularly for Scope 2 emissions. BECIS possesses extensive knowledge of diverse sustainability schemes and can assist companies in procuring and converting EACs into IRECs.
Overall, the type of renewable energy plan that a company chooses will depend on various factors, such as location, energy needs, budget, and sustainability goals.
Step 6: Develop a Renewable Energy Plan
Based on your sustainability audit and feasibility assessment, develop a renewable energy plan for your company. This plan should outline how you will achieve your renewable energy goals, including the types of renewable energy sources you will use, the timeline for implementation, and the budget required.
Step 7: Implement and Monitor
Once you have developed a renewable energy plan, it’s time to implement it. This may involve installing solar panels, wind turbines, or other renewable energy infrastructure. It’s important to monitor your progress regularly to ensure you are meeting your renewable energy goals and identify areas where improvements can be made.
Step 8: Communicate and Report Your Success
Finally, don’t forget to communicate your success to your stakeholders, including employees, customers, investors, and the public. Share your progress towards your renewable energy goals as per the selected sustainability scheme, including any energy savings or reductions in carbon emissions. This will help to build support for your sustainability initiatives and improve your company’s public image.
Developing a renewable energy strategy requires careful consideration of a range of factors. By setting clear goals and evaluating the available renewable energy options, companies can make informed decisions that align with their sustainability objectives and help to mitigate change.
As a sustainable distributed energy solutions provider, BECIS partners with experienced and knowledgeable providers of Energy as a Service (EaaS) solutions to help companies implement and manage their renewable energy strategies over the long term. With our expansive range of services, including solar energy design and installation, bioenergy solutions, cooling services, waste heat recovery, and energy analytics, we can tailor solutions to meet the unique needs of our clients. By working with us, companies can make significant progress towards a more sustainable energy management and contribute to a cleaner, more resilient energy system. Contact us today to learn more about how we can help your company achieve its renewable energy goals.