Energy Management: An Energy Strategy for the C-Suite

Aashish Yadav | July 29, 2022 | 1199 views | Read Time : 03:05 min

Energy Management: An Energy
Every year, large corporations spend millions, if not billions, of dollars on energy—and millions more on supply chain, outsourcing, and logistical expenditures. Outside of the most energy-intensive sectors, however, the majority of businesses regard energy as just a cost to be managed. This is a strategic error that misses out on the significant potential to decrease risk, boost resilience, and generate new value.

Today, energy is moving up the corporate agenda as a result of broad environmental, social, and economic developments, such as climate change and global carbon regulation, growing demands on natural resources, increased standards for corporate environmental performance, advances in energy technology and business models, and dropping costs for renewable energy sources. These major trends alter the environment in which businesses operate, exposing them to new risks and value-generating opportunities.

PWC surveyed major commercial and industrial enterprises based in the United States and discovered that 72% are actively exploring new renewable energy acquisitions in order to decrease emissions (85%), produce an attractive ROI (76%), and mitigate the risks related to energy price volatility (59%).

Corporate energy is a focus. Organizations in all sectors—and particularly those with large energy footprints—are encouraged to implement a C-suite strategy for energy management developed around the key points mentioned below.


Make Energy Management a C-Suite Priority.

If energy is to get the attention it requires in order to have an effect, its significance must be conveyed from the top down. This will require the CEO to designate energy management as one of the company's top objectives and delegate strategy development and implementation to the COO, CFO, or other executives.


Embrace Renewable Energy Technologies

Technology advancements, coupled with government incentives, have driven down the cost of sustainable energy. LED lighting, solar energy, wind energy, and the batteries that enable intermittent renewables, for example, have all come down in price in recent years, making these technologies more economical than before. This is significant since alternative energy solutions can provide enormous advantages to businesses, such as preparing them for future requirements, enabling them to continue operations in the case of a power loss, and strengthening their image as an environmentally conscientious brand (for CRE, this. As a result, every business energy management plan should contain a directive to adopt renewable and alternative energies at every opportunity.


Strategize Using Risk and Opportunity

The risk and opportunity factors connected to its sourcing and consumption should serve as the foundation for the company's energy management strategy. This calls for a comprehensive grasp of the company's present energy costs and the potential benefits of change. Therefore, while creating an energy management plan, businesses should think about how they can:

  • Calculate and cut down on variable energy bills.
  • Energy costs should be adjusted to improve the value and reduce expenses.
  • Increase the amount of renewable energy they utilize.
  • Reduce their carbon footprint.
  • Select suppliers that exhibit a dedication to eco-friendly operations.
  • Integrate energy strategy into the organization's goals and daily activities.
  • Make a public strategy to achieve strict emission and energy use goals.


Closing Lines

Competitive edge drivers are constantly evolving. Not a long time ago, "quality" was a fringe philosophy, and IT was just a cost center. Quality is no longer optional, and understanding big data is essential. Energy is taking a similar path. What was previously buried deep inside procurement is now emerging to take its position among the fundamental drivers of corporate success.

Spotlight

Just Energy

Established in 1997, Just Energy is an energy management solutions provider specializing in electricity and natural gas commodities, energy efficiency solutions, and renewable green energy options. With offices located across the United States, Canada, the United Kingdom and Germany, Just Energy serves close to two million residential and commercial customers.

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Sustainable Future with Solar: Key Solar Power Events for 2023

Article | July 15, 2022

Discover top events shaping the future of solar power. These solar conventions and events in 2023 bring together experts and industry leaders to explore groundbreaking technologies and foster collaboration. In an era marked by environmental concerns and the urgent need to transition towards sustainable energy sources, the global focus on solar power has never been more critical. As the global community endeavors to reduce carbon emissions and combat climate change, the significance of exploring innovative solutions and fostering knowledge exchange in this field becomes increasingly apparent. Attending top solar events dedicated to solar power and renewable energy is an exceptional opportunity for professionals, researchers, policymakers, and enthusiasts to immerse themselves in the latest advancements, industry trends, and groundbreaking technologies. This article delves into some of the top solar events that are a must-attend for anyone passionate about solar power and renewable energy. These events serve as hubs of inspiration, collaboration, and education, driving the renewable energy sector forward and shaping a sustainable future for generations to come. 1.Global Energy Show Exhibition & Conference June 11 - 13, 2024 | Calgary (Canada) The Global Energy Show is a leading B2B exhibition and conference that brings together industry buyers, sellers, stakeholders, partners, CEOs, and young professionals to foster knowledge sharing and fuel innovation in the ever-changing energy landscape. This event will serve as an inclusive platform encompassing all energy systems, providing features on the exhibition floor and conference sessions dedicated to oil sands, hydrogen, wind, solar, petrochemicals, gas and LNG, electrification, and nuclear energy. This inclusive approach will ensure that attendees gain a comprehensive understanding of the challenges and opportunities present in the global energy sector. The event's comprehensive program tackles various topics, including meeting energy demand, navigating the energy transition, showcasing cutting-edge technology and innovation, and exploring the role of various energy sources within the broader energy system. By attending the Global Energy Show in 2024, energy professionals can play an active role in leading the path toward sustainably meeting energy demands. 2.ES 2023 (17th International Conference on Energy Sustainability) July 10 - 12, 2023 | Washington D.C. (USA) The ASME (American Society of Mechanical Engineers) Energy Sustainability Conference serves as a focal point for identifying innovative technologies, research advancements, and design solutions that contribute to developing renewable and sustainable energy systems. The conference will focus on various topics, including utility-level systems integration, aiming to create a path toward a more sustainable energy future. Participating researchers will have the opportunity to present their high-quality papers, which will be considered for selection in a special issue dedicated to Energy Sustainability by the ASME Journal of Energy Resources Technology (JERT) and ASME Journal of Engineering for Sustainable Buildings and Cities. This ensures that groundbreaking research and design advancements receive recognition and dissemination in esteemed publications. ES2023 will feature keynote and plenary speakers, as well as panelists from national labs, the Department of Energy, and renowned researchers from universities worldwide. These experts will bring invaluable insights and perspectives to the conference, fostering knowledge exchange and inspiring collaboration among attendees. 3.IEEE Power & Energy Society General Meeting 2023 July 16 - 20, 2023 | Orlando (Florida) The IEEE Power & Energy Society (PES) General Meeting (GM) stands as the premier annual event in the power and electrical engineering field, dedicated to meeting the energy needs of a dynamic world. This highly anticipated gathering will bring together over 3000 leading PES members, power and electrical engineers, prominent academics, and engineering students from around the globe. With a rich history dating back to 1964, when IEEE PES held separate winter and summer meetings, the GM has evolved into a single consolidated event since 2003. It has been a vital platform for knowledge sharing, collaboration, and networking among professionals in the field. By hosting the GM, IEEE PES aims to create an international forum that promotes networking, knowledge sharing, and collaboration among experts in the field. The event will serve as a platform to discuss vital issues, explore progressive developments, and address the challenges and opportunities in electrical and power engineering. 4.Global Summit and Expo on Sustainable and Renewable Energy (GSESRE2023) August 28 - 30, 2023, | London (UK) The 2nd Global Summit and Expo on Sustainable and Renewable Energy (GSESRE2023) aims to bring together renowned researchers, scientists, and scholars from around the world to foster knowledge exchange, present cutting-edge research works, and engage in discussions on the latest topics in the field of sustainable and renewable energy. This 3-day summit will gather key players in the sustainable and renewable energy community and related sectors. It strives to establish itself as a leading event, attracting global participants passionate about sharing, exchanging, and exploring new avenues in Sustainable and Renewable Energy-related scientific and commercial developments. GSESRE2023 features a comprehensive scientific program designed to cover a wide range of topics in Sustainable and Renewable Energy. Attending the summit will gives participants a unique opportunity to enhance their knowledge and stay at the forefront of interdisciplinary approaches to sustainable and renewable energy. The summit not will only offer a platform for learning but also provide invaluable networking opportunities. 5.SEST 2023 (6th International Conference on Smart Energy Systems and Technologies) September 4 - 6, 2023 | Mugla (Turkey) Governments worldwide are investing substantially in smart energy systems and technologies (SEST) to optimize energy utilization, enhance planning for outage responses and recovery, and foster seamless integration of diverse technologies such as renewable energy systems, electric vehicle networks, and smart homes within the power grid. The SEST conference is a premier event that endeavors to address the engineering complexities associated with designing and operating smart energy systems. At the SEST Conference, the primary objective is to facilitate in-depth discussions on advanced methodologies and best practices for developing various components of smart energy systems and ensuring their seamless integration within the grid infrastructure. This conference will serve as a vital platform for researchers, academics, industry professionals, and government regulators to collectively tackle the challenges faced in this domain. It will foster an environment conducive to sharing knowledge, exchanging ideas, and exploring innovative approaches to design and implement smart energy systems. 6.2023 7th International Conference on Renewable Energy and Environment (ICREE 2023) September 22 - 24, 2023 | Eskisehir Technical University, Turkey The 7th International Conference on Renewable Energy and Environment (ICREE 2023) is an eagerly anticipated event taking place in Eskisehir, Turkey. As a workshop of the ICPSE 2023 conference, ICREE 2023 provides an excellent platform for researchers and developers to come together and share their experiences, ideas, and research findings across various fields related to renewable energy and the environment. ICREE 2023 welcomes participants from diverse backgrounds, fostering a collaborative environment where students, postdoctoral researchers, and established scientists can engage in fruitful discussions and contribute to an integrative approach for addressing the challenges and opportunities in renewable energy and environmental sustainability. The conference will encompass an extensive range of topics, focusing on key areas such as photovoltaic technology, PV manufacturing, PV for rural development, solar thermal electricity, wind energy applications, hydropower applications, and more. Through research talks and presentations, attendees will have the opportunity to showcase their work, share insights, and gain valuable feedback from their peers. 7.Renewable and Sustainable Energy (RENEWABLEENG 2023) September 25 - 27, 2023 | Barcelona (Spain) The International Conference on Renewable and Sustainable Energy (RENEWABLEENG 2023) is a prestigious event that brings together a diverse range of participants, including academia, government laboratories, industry professionals, business entrepreneurs, and specialists from around the globe. This conference will offer an exciting environment to share the latest findings, exchange ideas, and establish strategic alliances, all with the shared goal of securing a clean and sustainable environment. RENEWABLEENG 2023 focuses on addressing the current challenges associated with climate change, emphasizing the quest for sustainable development goals and the transition to a low-carbon future, in line with the objectives set by the United Nations Framework Convention on Climate Change. The conference will serve as a platform for identifying pressing issues and generating viable solutions to achieve a more sustainable and environmentally friendly world. Moreover, RENEWABLEENG 2023 will operate in a hybrid format to ensure inclusivity, allowing remote attendees to participate via Zoom. 8.Renewable Energy Markets (REM) 2023 September 18-20, 2023 | Washington D.C. (USA) The annual Renewable Energy Markets conference serves as a gathering point for a diverse range of industry professionals driving the rapid transformation of the global clean energy marketplace. With a history spanning over 25 years, Renewable Energy Markets has earned a reputation as the premier conference series for professionals working in the clean energy sector. Thousands of renewable energy experts rely on REM conferences to equip them with the necessary tools to excel in the expanding retail renewable market. REM brings together corporate leaders, policymakers, and suppliers, fostering collaboration and providing guidance in navigating the dynamic and rapidly expanding renewable energy market. Attendees will have the opportunity to explore emerging trends in policy, exchange best practices in renewable energy procurement and marketing, review the latest technological advancements, and collectively shape the future of renewable energy. Organized by the nonprofit Center for Resource Solutions and co-sponsored by the U.S. Environmental Protection Agency, Renewable Energy Markets offers a highly respected platform that will facilitate knowledge sharing, networking, and collaboration among industry professionals. 9.5th International Conference on Renewable Energy, Resources and Sustainable Technologies (EnergyTech 2023) November 13 - 14, 2023 | Paris (France) The 5th International Conference on Renewable Energy, Resources & Sustainable Technologies (EnergyTech 2023) is a highly anticipated two-day event that brings together academics, researchers, professionals, administrators, educational leaders, industry representatives, and business leaders. It serves as a dynamic platform for knowledge sharing, discussion, and networking among experts in the field. The conference will feature an array of engaging activities, including keynote speakers, presentations, oral talks, poster presentations, and an exhibition. The theme of EnergyTech 2023, 'Accelerating the Advancements in Renewable Energy for Sustainable Growth,' will set the stage for in-depth discussions and exploration of various topics. Renewable energy, with its diverse range of resources, taking center stage, covering areas such as REN21, solar energy, bioenergy, ocean thermal energy conversion, 100% renewable energy, sustainable technologies, developments, advanced technology, and more. Participants can delve into advanced details and engage in interactive sessions that foster collaboration and knowledge exchange. The conference will offer a comprehensive program that addresses critical aspects of renewable energy, aiming to accelerate advancements in the field and drive sustainable growth. 10.Energy Trends 2023 (European Congress on Renewable Energy and Sustainable Development) November 16 - 17, 2023 | Rome (Italy) Energy Trends 2023 is a peer-reviewed European Congress on Renewable Energy and Sustainable Development. This prestigious event serves as a platform for researchers, professors, scientists, business delegates, entrepreneurs, practitioners, managers, and students from around the world to come together and strengthen their professional networks for the advancement of a sustainable future. The conference is dedicated to the theme of Developing and Securing Energy Technologies for a Sustainable Future. It aims to provide advanced, eco-friendly energy solutions that offer a competitive advantage and cost savings in various industrial and business sectors. Energy Trends 2023 will facilitate lively engagement and knowledge sharing among industry leaders and experts by focusing on cutting-edge presentations, special panel discussions, and interactive sessions. The conference will provide a platform to share new and exciting research findings and results. This exchange of knowledge and expertise contribute to the continuous development of renewable energy solutions and fosters the achievement of a sustainable future worldwide. Key Takeaways As the world increasingly recognizes the urgent need for sustainable and renewable energy solutions, attending top solar power conventions and events becomes crucial for professionals, researchers, and enthusiasts alike. These solar events will serve as catalysts for innovation, knowledge sharing, and collaboration, driving the advancement of solar power and renewable energy. By attending these top solar conventions and events in 2023, individuals can stay at the forefront of solar power and renewable energy developments, gain valuable insights, forge meaningful connections, and contribute to a sustainable future. These events offer unparalleled opportunities to engage with the brightest minds, discover groundbreaking technologies, and collaborate toward a cleaner, more sustainable energy landscape. Attending these top solar power events is not just an investment in personal and professional growth but also a commitment to driving the renewable energy revolution forward.

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A vision for renewable energy

Article | June 14, 2022

Right now, renewable energy makes up a very small part of the entire energy sector of Bangladesh. But as we move into the future, and concerns about the environment become too great to ignore, exploring cleaner and greener sources of energy becomes the need of the hour. Our economy is booming, and our population is growing, so it goes without saying that our energy requirements are immense. There is plenty of scientific evidence that burning fossil fuels indiscriminately is not sustainable in the long term, so we do need to up our game in looking at alternatives.

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2020: The Year of Convergence in Corporate Renewables

Article | September 17, 2022

The rapid growth of corporate renewable procurement has been nothing short of a buyer-driven revolution in the United States’ electric sector. Almost 20 gigawatts (GWs) of corporate power purchasing agreements (PPAs) were completed in 2019 across the globe, up from 13 GWs of corporate PPAs in 2018 and triple the numbers from 2017.1,2 And the majority of this growth has come from the United States. Fortunately for those of us committed to renewable energy, we expect this trend to continue. But as should be expected in such a dynamic, buyer-driven sector, we are starting to see some noticeable shifts in the marketplace as it evolves and grows. I wanted to highlight some of the trends Constellation is watching for this year.

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2020 Trends That Will Make Waves In The Energy Industry

Article | February 10, 2020

In the renewable world, energy is generated by weather and the amount of energy that can be produced depends on the current conditions. Energy storage can ensure a power supply is maintained when weather conditions are not optimal for generating energy. While energy storage products have already been introduced to all levels of the market there are several technology hurdles to overcome before energy storage will reach maximum potential. We believe there will be great advancements in 2020 on:

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Just Energy

Established in 1997, Just Energy is an energy management solutions provider specializing in electricity and natural gas commodities, energy efficiency solutions, and renewable green energy options. With offices located across the United States, Canada, the United Kingdom and Germany, Just Energy serves close to two million residential and commercial customers.

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