Making sustainable choices for your business doesn’t have to be expensive, time-consuming, or confusing. Especially if you’re a Flow Power customer.
After the closure of the Hazelwood coal power station in 2017, there was a subsequent rise in energy prices. Since then, more renewable energy generators have come online, supplying the grid with cleaner and cheaper to produce energy. As a result of this renewable energy generation supplied to the grid, we have seen the price of electricity drop.
Rooftop solar has also become much more common in recent years. In fact, in 2020 the national electricity market (NEM) reached a record for minimum demand. This was largely due to households and businesses being able to generate their own energy with their rooftop solar.
2021 saw a record number of renewable energy in the grid, with just over 60% of all energy being renewable.
Additionally, when energy prices are high, it is usually the most carbon-intensive time to use energy. Business are using their energy bill to work towards their sustainability goals, by moving their energy consumption to when renewable energy generation is peaking, they are reducing their carbon intensity and dependency on fossil fuels.
So, with more renewable energy in the grid than ever before, how can businesses take advantage of the price and carbon efficiency benefits? Watch the webinar below or keep reading to find out how businesses can benefit from choosing renewable energy – all while championing renewable energy and supporting Australia’s energy transition.
In this video
The Flow Power team unpack what choosing renewable energy means for your business, the different options available and some case studies of customers who have gone renewable.
This webinar was held in October 2021.
What are the costs involved in using renewable energy?
The below OpenNEM energy mix and price graph, shows an example of the different energy sources that were supply the grid with electricity in New South Wales during September 2021. The yellow and green represents renewable energy generated from rooftop solar and wind and the black represents the coal generated energy.
This figure shows how the electricity wholesale price lowers as solar and wind generation grows and when renewable energy dies off and fossil fuels kick in, there is a correlating increase in the price.
From the above figure, we can see renewable energy can be cheaper. Businesses that have the flexibility with their operations to shape their energy behaviour using the wholesale price signals have the potential to unlock savings on their energy bill.
The OpenNEM project aims to make the wealth of public National Electricity Market (NEM) data more accessible. You can access their live data here.
Achieving sustainability goals with renewable energy for your business
Some businesses have taken great steps toward setting sustainability goals and reducing their impact on the environment.
Flow Power’s price efficiency adjustment (PEA) is designed to help businesses lower their energy costs. Your PEA is based on when you consume the most energy, by using more energy when prices are low (often in the middle of the day) and less energy when prices are high (in the mornings and evenings), the better your PEA. Meaning that businesses can simultaneously reduce their energy bill and reduce the grid’s dependence on fossil fuel generation.
Some businesses, such as schools, are already naturally more efficient against the market and are suited to benefits from a PEA, as majority of their operations are during the day, when prices are low and more renewable energy is in the grid.
Contact us today to find out how you can achieve your business sustainability goals.
What options are available for businesses looking to “go renewable”?
There is always more than one solution to a problem. This rule applies to businesses looking to transition to renewable energy – however, it is more of an opportunity than a problem.
Start by considering what is important to your business and what goals you want to achieve, such as, how renewable will you go? What timeframe do you want to achieve it in? Is getting the cheapest price important? Once you have mapped out your goals and budget, there are a few energy options to consider:
Large Scale Renewable Certificates (LGCs)
Specific solar and wind projects create certificates that they sell or trade. LGCs can be purchased to an equivalent load to meet your renewable goals, for example, 40, 75 or 100%. LGCs are a quantifiable and traceable way to look at your renewable energy usage.
Rooftop Solar
Solar panels are installed on-site, and you use the energy that you generate and are not drawn from the grid.
Buying energy offtake from an established wind or solar project. You purchase an allocation, so you get a proportion what the energy generated from that project.
Carbon credits
Allows a business to offset some or all of their emissions by purchasing credits linked to activities designed to reduce greenhouse gas emissions (which are not always linked to renewable energy)
Actions to get ready to go renewable
Look at your most recent bill
Check your charges and see what periods you are consuming the most energy. Is it mostly in peak times? Are you paying a high peak rate?
Check in with your business’s executives
This will help you to understand their requirements, goals, when they will go renewable and how renewable they will go.
Talk to a business energy specialist
Learn how you can achieve your renewable energy goals through your energy contract. The Flow Power team specialise in helping Australian businesses reshape the way they use energy and accessing the benefits of renewables. We would love the opportunity to help your business unlock energy opportunities from your bill.
Ready for your business to go renewable? We’re here to help.
If you’re an existing Flow Power customer and have any questions about your contract, please do not hesitate to reach out to your dedicated Client Solutions Manager.
If you’re not a Flow Power customer contact our friendly team today:
? 1300 08 06 08 (within business hours)
?️ Live chat message (within business hours via the chat button at the bottom of your screen)
