Improved Onsite Energy Management Could Help Manufacturers Achieve Sustainability Goals and Reduce Utility Bills
Falling costs of distributed energy resources technologies, evolving financing mechanisms, and new business models contribute to reduced energy consumption
A new report from Navigant Research explores the onsite management of large manufacturing energy loads, examining energy management decisions within a broader sustainability and clean energy procurement context.
Industrial-scale manufacturers are responsible for 40% of total energy consumption worldwide. As countries in all global regions achieve industrialization status, the manufacturing industry has an opportunity to reshape its relationship with energy through enhanced onsite energy management. Click to tweet: According to a new @NavigantRSRCH report, falling costs of distributed energy resources (DER) technologies, evolving financing mechanisms, and new business models are making improved onsite energy management feasible for industrial manufacturers looking to save on utility bills and achieve sustainability goals.
“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,” says 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 for success, the report recommends industrial manufacturers take a holistic approach to energy management by identifying sustainability targets and exploring the variety of solution sets able to meet their needs. 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.
The report, DER Creates Onsite Energy Opportunities for Manufacturers, explores the drivers for managing large manufacturing energy loads onsite. The report contextualizes energy management decisions within a broader sustainability and clean energy procurement context. It compares a variety of DER to identify the values these technologies bring to the manufacturing vertical. The report also provides corporate energy managers and DER solutions providers with direction as to how to approach developing onsite energy strategies that derive greater value for industrial manufacturers. An executive summary of the report is available for free download on the Navigant Research website.
*The information contained in this press release concerning the report, DER Creates Onsite Energy Opportunities for Manufacturers, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.