Falling costs of distributed energy resources (DER), 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, according to Navigant Research.
Industrial-scale manufacturers are responsible for 40% of total energy consumption worldwide. As countries around the globe achieve industrialisation status, the manufacturing industry has an opportunity to reshape its relationship with energy through enhanced onsite energy management.
Navigant recommends industrial manufacturers to 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.
Jessie Mehrhoff, a research analyst with Navigant, said: “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.
“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.”
Click here for more information about the report.