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The Future of Renewable Energy

Renewable energy is the energy generated from natural resources on Earth that are neither limited or exhaustible, such as wind and sun. Thus, renewable energy is an alternative to conventional energy based on fossil fuels and is generally less harmful to the environment.

Some Sources of Renewable Energy

  • Solar:

Solar energy is created by capturing sunlight's radiant energy and turning it into heat, electricity, or hot water. Photovoltaic (PV) systems utilize solar cells to convert direct sunlight into energy.

The significant advantage of solar energy is that it is functionally infinite. There is an infinite supply of solar energy with the technology to harvest it, making fossil fuels obsolete. Using solar energy instead of fossil fuels can also help improve public health and environmental conditions. In addition, solar energy has the potential to eliminate energy expenses in the long run, as well as decrease your energy bills in the short term. Many government, state, and local governments also provide rebates or tax credits to encourage investment in solar energy. To know more about Solar Energy, click here.

Although solar energy can save you money in the long term, it has a high upfront cost out of reach for most households. In addition, for personal houses, homeowners should also have enough sunlight and space to install their solar panels, restricting who can realistically adopt this technology on an individual level.

  • Wind:

Wind farms use turbines to generate wind energy and convert it to electricity. There are many types of systems used to convert wind energy, and each one is unique. Commercial-grade wind-powered generating systems can power a wide range of organizations, while single-wind turbines are utilized to complement current energy organizations. Utility-scale wind farms, which are purchased on a contract or wholesale basis, are another option. Wind energy is technically a kind of solar energy. Wind is caused by temperature variations in the atmosphere and the rotation of the Earth, and the geography of the planet.

Wind energy is a clean energy source, which means it does not damage the environment in the same way other types of energy do. Wind energy does not emit carbon dioxide or any other hazardous pollutants that can degrade the environment or damage human health, such as smog, acid rain, or other heat-trapping gases. Investment in wind energy technology can also lead to new employment opportunities and job training, as farm turbines should be serviced and maintained to remain operational.

Wind farms are often constructed in rural or isolated locations, far from busy towns where electricity is most required. Wind energy must be transmitted through transition lines, which raises the cost. Even though wind turbines produce relatively little pollution, some cities are opposed to them because they dominate skylines and create noise. In addition, wind turbines can pose a danger to nearby animals, such as birds, who are occasionally killed when they collide with the turbine's arms while flying.

  • Hydroelectric:

When it comes to hydroelectric power, most people think of dams. Pumped-storage hydropower is the process through which water flows through the turbines of a dam to generate energy. Run-of-river hydropower utilizes a canal to funnel water through rather than a dam to power it.

Hydroelectric power is very flexible since it can be generated utilizing both large-scale projects such as the Hoover Dam and small-scale projects such as underwater turbines and lower dams on rivers and streams. In addition, because hydroelectric power does not emit pollutants, it is a far more ecologically beneficial energy source for our environment.

The majority of hydroelectric power plants use more energy than they generate. To pump water, the storage systems may need to utilize fossil fuels. Although hydroelectric power does not contaminate the air, it disrupts rivers. It harms the animals that dwell in them by changing water levels, currents, and migratory routes for many fish and other freshwater ecosystems.

  • Geothermal:

Geothermal heat is heat trapped under the Earth's crust due to the Earth's creation 4.5 billion years ago and radioactive decay. Large quantities of this heat can sometimes escape spontaneously, but only all at once, resulting in well-known phenomena like volcanic explosions and geysers. This heat can be collected and utilized to generate geothermal energy by utilizing steam generated by heated water pumping under the surface, which rises to the surface and can power a turbine.

Geothermal energy is not as common as other forms of renewable energy, but it has considerable energy supply potential. In addition, it has a little environmental impact because it can be constructed underground. As geothermal energy is replenished naturally, it is not in danger of depletion.

When it comes to the drawbacks of geothermal energy, the cost is a significant issue. Not only is the infrastructure expensive to construct, but it is also vulnerable to earthquakes in some parts of the world.

Is renewable energy capable of powering the future?

Renewable energy technologies already account for approximately 26% of total global power, and the International Energy Agency (IEA) predicts that this will rise to 30% by 2024. According to the IEA, by 2024, the world's renewable energy capacity will have increased by 1,200 GW, which is equivalent to the capacity of the whole United States.

Expert analysis indicates that a completely sustainable energy system can be achieved worldwide over the next 30 years; the difficult part is persuading countries to change their ways.

What is the significance of renewable energy in the future?

There are many reasons why renewable energy is critical for the future, particularly given the negative impact that fossil fuels have on our world. This includes, among other things, air and water pollution, habitat and wildlife loss, and greenhouse gas emissions that contribute to global warming. Here are a few examples of why renewable energy is so important:

  • Lowers air pollution: By lowering air pollution, renewable energy may help improve people's health worldwide. Air pollution is a significant environmental problem, particularly in metropolitan areas and developing countries, and the World Health Organization estimates that 7 million people die prematurely due to inhaling contaminated air each year.
  • Lowers the danger of floods and droughts: Using renewable energy can also lower the risk of floods and droughts throughout the world. For example, many gallons of water are required to operate power plants that burn fossil fuels, leading to droughts in many low-rainfall nations. In contrast, climate change induced by the combustion of fossil fuels produces greater rainfall in other areas, resulting in catastrophic floods.
  • Promotes local economies: The development of renewable energy technologies also contributes to creating new employment and financing for local economies. As a result, more employment in renewable energy is being generated every day, and they are only expected to grow more secure as technology advances.
  • Lower long-term costs: Clean energy sources are becoming more appealing investment possibilities than fossil fuels. With the growing popularity of renewable energy sources like solar and wind power, investment is low risk, even with hefty initial installation costs. They can effectively generate electricity "for free" for decades after installation.

A future powered by renewable energy will result in a more sustainable environment and help many local economies in ways that fossil fuels cannot.

What is the best future renewable energy source?

Solar energy and wind power, together with hydropower, are considered the greatest renewable energy sources for powering our future planet. They are the cleanest renewable resources and are ideal for household, industrial, and national grid uses.

They can offer limitless quantities of clean energy to the world, but they can also boost local economies. Wind power technology has already resulted in a significant rise in employment and helps to put money back into local communities, with additional jobs being generated with each installation.

Solar energy can benefit everyone who has sufficient space for PV panels, and it is much less intrusive than wind turbines. And, although initial installation prices can be high, they will start to fall as solar becomes more common.

Is it possible for the world to survive on 100% renewable energy in the future?

The world may survive on 100% renewable energy in the future, but this will not be without challenges. To read more about the challenges in renewable energy click here. Each nation will have to go through its transition phase, which will be relatively simple for some and more difficult for others. Others may be hesitant even to begin the transition if their economy is highly dependent on fossil fuels.

The world's future can be unpredictable, and it's impossible to tell if it's possible to live completely on renewable energy. Still, we can help make the planet a better place by switching our homes' electricity to renewable energy.

In the future, how efficient will renewable energy be?

Renewable energy efficiency is determined by how much energy can be generated in a given period and how much it costs to generate this energy. Despite the fact that all renewable energy technologies have high initial costs, the costs of generating energy are considerably lower than the costs of obtaining fossil fuels.
With the continuous advancement of renewable energy technology, this efficiency will only increase, bringing us closer to a bright future for renewable energy.

What are the future benefits and drawbacks of renewable energy?


Benefits:
  • Renewable energy technologies have an infinite supply — as long as we have the sun, wind, water, and natural heat, we have renewable energy technologies.
  • Reduced global warming impacts, such as floods, severe storms, droughts, and other extreme weather conditions.
  • Fewer air contaminants, which lead to improved respiratory health.
  • Reduced greenhouse gas emissions result in a more stable climate.
  • More employment for local areas.
  • More robust supply, which assists in the elimination of power outages.
  • Enhanced accessibility.
  • Lower energy costs, particularly with renewable energy prices falling.

Drawbacks:
  • Expensive initial installation costs.
  • Intermittent - depending on the renewable energy source, they will not provide electricity 24 hours a day, seven days a week. Solar energy, for example, cannot be produced at night, and wind is not always powerful enough to spin a turbine.
  • More advancements in storage solutions are required - renewable energy storage can be costly, but this is expected to improve as technology advances.
  • Geographical constraints - some areas will be more suited to renewable energy sources than others.


What factors will influence the future of renewable energy?

The environmental advantages and the cost of transition are the two most important factors determining the future of renewable energy.

The benefits of renewable energy sources often exceed the drawbacks, yet the high initial costs frequently discourage people from investing. Luckily, as environmental problems become more generally recognized, renewable energy prices, including installation costs, are falling, providing greater incentive to switch to renewable energy sources.


So, what does the future of renewable energy hold?

Renewable energy is expected to grow in popularity over the next decade, attempting to minimize the impacts of climate change. This may take some time, but we will have to switch to renewable energy to fight against climate change and protect our environment.


FAQ

Why is renewable energy the future?

Alternative energy sources emit much less Carbon dioxide than natural gas, coal, and other fossil fuels. Switching to renewable energy sources for electricity production will benefit the environment by delaying and reversing climate change.

Is renewable energy a good investment for business?

There are many benefits to investing in renewable energy sources for businesses, including increased marketing possibilities, fewer emissions, cheaper energy costs, and many more. Businesses must lead the way in becoming more sustainable by expanding their usage of renewable energy.

What is the best renewable energy source for the future?

Solar energy and wind power, together with hydropower, are considered the greatest renewable energy sources for powering our future planet. They are the cleanest renewable resources and are ideal for household, industrial, and national grid uses. They can offer limitless quantities of clean energy to the world, but they can also boost local economies. Wind power technology has already resulted in a significant rise in employment and helps to put money back into local communities, with additional jobs being generated with each installation.

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5 Challenges in Renewable Energy in 2021

Article | March 22, 2021

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To make things easier for transmission of clean energy, there needs to be a significant infrastructure and technological development, which cost a lot of money. Making the economics work with financing and siting can prove costly for developers and customers alike. Policies and Regulations Unfortunately, the fossil fuel industry is backed by multi-billionaires who wield a considerable amount of political influence. This severely affects the chances of expansion for the renewable industry. Industry experts estimate that the USA spends upwards of $60 billion on subsidies for fossil fuels every year. The taxpayers have helped fund the industry’s research and development, drilling, mining, and generation of electricity. Renewables like wind and solar enjoy much lesser subsidies and political backing. The fossil fuel industry has used its enormous power to spread misinformation about climate change. 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Fossil fuels are subsidized which makes it cheaper at the beginning. However, renewables get cheaper to maintain over the years hence making it cheaper than fossil fuels. What is the cheapest source of renewable energy? Solar PV and on site wind are the cheapest sources of renewable energy sources. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What is a major challenge with using more renewable energy?", "acceptedAnswer": { "@type": "Answer", "text": "Renewable energy is competing with fossil fuels and nuclear technology. Other major challenges include underdeveloped infrastructure and lack of economies of scale." } },{ "@type": "Question", "name": "What are the benefits of using renewable energy?", "acceptedAnswer": { "@type": "Answer", "text": "Some benefits of using renewable energy are lower energy costs, reduction of emissions, massive positive impact on environment, and marketing opportunities for businesses." } },{ "@type": "Question", "name": "Is renewable energy cheaper than fossil fuels?", "acceptedAnswer": { "@type": "Answer", "text": "Fossil fuels are subsidized which makes it cheaper at the beginning. However, renewables get cheaper to maintain over the years hence making it cheaper than fossil fuels." } }] }

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Why Picking an Established and Credible Solar Installer Matters

Article | July 15, 2022

With the popularity of solar increasing across the country, the number of solar installers has been multiplying. Unfortunately, many fly-by-night companies with minimal installation experience or larger national firms with little market history are trying to capitalize on the industry’s growth. In addition, the sheer volume of installation partners that consumers have to choose from can result in a great deal of buyer confusion. More choices, more issues As the number of solar installers has gone up, so have complaints and issues related to providers and their service. Recently, the Minnesota Department of Labor and Industry reached terms with Empire Solar Group LLC’s trustees, a national solar installer that went bankrupt earlier this year, leaving 45 homeowners in Minnesota with projects in various levels of incompletion. Unfortunately, they’re not alone, as many other consumers have also fallen into precarious situations after companies using high-pressure sales tactics have been unable to deliver on the work. Michael Allen, CEO of All Energy Solar, says, “He’s angered that companies go out of business and face no fines.” Allen and other established industry leaders have done their best to help out customers caught in the middle of an installer’s bankruptcy issues, but there is only so much they can do. What protections do consumers have? In some cases, states have put into place protections for consumers; for example, in Minnesota, consumers stranded with uncompleted projects can get access to the state’s Contractor Recovery Fund, which receives money from licensing fees to help offset these costs. But that is of little comfort for those trying to determine what partner to choose for their project. The best bet When picking a solar installation partner, your best bet is to avoid those with high-pressure sales tactics, “too-good-to-be-true” pricing, or ones with little to no installation experience. Don’t simply trust the sales rep, do a little of your own research to see what other customers are saying. Looking for a record of successfully completed projects and businesses with state and national certifications can be another way to confirm credibility.

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Article | December 23, 2021

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Article | September 17, 2022

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Cost Saving When it comes to cost reductions, simply minimizing your energy consumption reduces both your organization's carbon footprint and its operating expenses. According to a 2016 Energy Star report, the owner of Kimberly-Clark Berkley Mill invested $350,000, which generated yearly savings of $160,000 and a rapid return on investment (ROI) of just over one and a half years when LED lighting was installed to replace the fluorescent and HID lighting that was traditionally used. Regulatory Compliance With a 20-fold rise in global climate change regulations since 1997, securing proactive regulatory compliance is much more important than ever in the minds of corporate leadership, public spheres, and stakeholders – and it's only becoming more important. Adopting an effective greenhouse gas emission reduction program, as well as tracking and reporting on progress, is essential for businesses to adopt in order to maintain operations and avoid penalties. Improved External Relations Consumer spending power has an enormous impact on the process of shaping organizational action. In the eyes of the public, the process of committing to responsibility in the domains of broader sustainability and greenhouse gas emissions reduction is a significant credibility boost. When your company takes proactive steps to reduce carbon dioxide and greenhouse gas emissions, the resulting increase in the quality and depth of relationships with potential partners and external business connections is priceless. Enhanced Stakeholder Relationships Along with a stronger relationship with the audience, the influence of transparent sustainability indicators and performance has the potential to strengthen crucial relationships with stakeholders. 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Article | March 22, 2021

Energy is an important feature in the economic and political development of a country. In developed nations like the USA, energy expansion has now reached a point where renewable energy sources also play a large part in the production of electricity. To meet the energy demands of the country, most production of renewable energy comes from fossil fuels and other non-renewable energy sources. Around 25% of the world’s energy is generated with renewable energy resources- mainly solar, wind, hydropower, and in some cases, geothermal. It is one of the fastest-growing electricity sources. Renewable energy is collected from resources that are abundantly available in the environment, like the sun or wind. There has been a growing interest in renewable energy production as fossil fuels are depleting. In most parts of the world, renewable energy has become a primary source of energy production. Renewable energy is preferred as they produce fewer greenhouse gases than non-RE sources. There are several other advantages to renewable sources like lower carbon emissions, reduced air pollution, and other socioeconomic benefits. However, unlike non-RE sources, there are challenges in renewable energy like economic, political and regulatory barriers, structural, social, and technical challenges which require advancement in technology, and a heavy investment with a proper understanding of obstacles it faces. Some obstacles are due to technology associated with renewable energy, whereas others are because of policies, marketplace, regulations, and infrastructure. Impact of Covid-19 The Covid-19 pandemic has brought the world to a grinding halt. It has severely impacted individuals and businesses alike, with many of the latter being closed down permanently. Similarly, the pandemic has also impacted the expansion of clean energy systems by forcefully curbing any investments. The technology and adoption of renewables have been making uneven but sure progress. The global pandemic has slowed down this development. According to International Energy Agency, the global share of electricity supply from renewables had reached 28% in 2020 from 26% in 2019, but the growth is expected to slow down further. The total energy supply is set to reduce by 13% from 2019. This substantial decline can be attributed to supply chain disruptions, lockdown, and emerging financial problems. Transport biofuel production and renewable heat consumption are projected to decline due to lower industrial activity. Governments have an opportunity to promote and accelerate the use of clean energy by incentivizing building, technology, and infrastructure across the country. This would be crucial to rebuilding the economy, create jobs, and build efficiency. Capital Costs and Investment The most obvious challenge of widespread adoption of renewables is cost, predominantly infrastructure costs like building and installing solar and wind power plants. Although it is quite cheap to operate and maintain solar and wind power plants, installation becomes more and more expensive. Over the last few years, even though the prices of installation of solar panels has fallen significantly, it remains higher than non-renewables. On average, a 2-kilowatt solar panel system costs $4,159 after tax credits, whereas the capital cost of a gas-fired power plant would cost lesser than that. In the last two years, investment in renewables has increased, but that is only because the investments in fossil fuels have been rapidly falling. Clean energy investments still fall short of what is necessary to convert into a more sustainable future. To ensure continuous investment in sustainable energy, policymakers have to focus on short investment turnaround, focus on rapid environmental gains favoring cleaner energy generation. Power on demand One of the most significant challenges of renewables is the ability to provide power on demand. In the case of solar power, you only get energy during the day and only when it is sunny. As for wind energy, power is generated only when it is windy. There is an intermittent generation of power in renewables which wouldn’t be a problem if there were appropriate energy storage solutions. The biggest test in providing power on demand is storage. Even if homes, businesses, or states install wind energy systems or solar panels, storing the generated energy is still an unsolved issue. Opponents of renewable energy highlight the reliability factor on solar and wind to augment support for coal, gas, and nuclear plants, which provide baseload power. This argument is used by lobbyists to drive out investment into renewables, thus becoming a barrier to widespread adoption of wind and solar energy. Location challenges Renewable energy plants have grids that require a large area of land. It can be unappealing to customers to switch to renewable energy sources as it is conditional depending on the size of the land. Not all states and regions are apt to build solar panels or have wind turbines as they are dependent on the geographical location. For example, building solar panels in California makes more sense than building them in New York as the former has an abundant supply of both sun and land. Renewables operates on what is known as a decentralized model. In a decentralized power plant, small generating stations are spread across a larger area that works collectively to deliver power. In the case of coal, nuclear power, or natural gas, they are highly centralized and depend on fewer high output power plants. Siting Decentralized systems prove to be a problem for siting and transmission of energy created by solar or wind. Siting is needed to move blades or solar panels to large pieces of land. To do so requires to draw up contracts, negotiate, acquire permits, or build community relations; all of this can delay or kill a renewable project even before it begins. Businesses can incur additional charges due to demand and delivery which seems like a significant challenge for them. Utility services apply these charges to recover costs of purchasing energy and maintaining power lines and energy lost in the transmission system. Moving power sources closer to your business will help you avoid such preventable expenses. Transmission The next challenge to overcome in renewables is the transmission of generated electricity. Transmission means the transfer of electricity from where it is generated to where it is consumed. Most transmitters that exist in this day and age are built for coal and other fossil fuels and not renewables. To make things easier for transmission of clean energy, there needs to be a significant infrastructure and technological development, which cost a lot of money. Making the economics work with financing and siting can prove costly for developers and customers alike. Policies and Regulations Unfortunately, the fossil fuel industry is backed by multi-billionaires who wield a considerable amount of political influence. This severely affects the chances of expansion for the renewable industry. Industry experts estimate that the USA spends upwards of $60 billion on subsidies for fossil fuels every year. The taxpayers have helped fund the industry’s research and development, drilling, mining, and generation of electricity. Renewables like wind and solar enjoy much lesser subsidies and political backing. The fossil fuel industry has used its enormous power to spread misinformation about climate change. To increase public interest and investment in renewables, there need to be clear and concise legal procedures and regulatory policies. Having proper regulations in place creates a stable environment for investment and overcome hurdles and can anticipate the revenue streams. Large-scale renewable energy projects require a large amount of capital which is hindered by the failure of proper policies that fail to attract private players. Frequently Asked Questions What is a major challenge with using more renewable energy? Renewable energy is competing with fossil fuels and nuclear technology. Other major challenges include underdeveloped infrastructure and lack of economies of scale. What are the benefits of using renewable energy? Some benefits of using renewable energy are lower energy costs, reduction of emissions, massive positive impact on environment, and marketing opportunities for businesses. Is renewable energy cheaper than fossil fuels? Fossil fuels are subsidized which makes it cheaper at the beginning. However, renewables get cheaper to maintain over the years hence making it cheaper than fossil fuels. What is the cheapest source of renewable energy? Solar PV and on site wind are the cheapest sources of renewable energy sources. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What is a major challenge with using more renewable energy?", "acceptedAnswer": { "@type": "Answer", "text": "Renewable energy is competing with fossil fuels and nuclear technology. Other major challenges include underdeveloped infrastructure and lack of economies of scale." } },{ "@type": "Question", "name": "What are the benefits of using renewable energy?", "acceptedAnswer": { "@type": "Answer", "text": "Some benefits of using renewable energy are lower energy costs, reduction of emissions, massive positive impact on environment, and marketing opportunities for businesses." } },{ "@type": "Question", "name": "Is renewable energy cheaper than fossil fuels?", "acceptedAnswer": { "@type": "Answer", "text": "Fossil fuels are subsidized which makes it cheaper at the beginning. However, renewables get cheaper to maintain over the years hence making it cheaper than fossil fuels." } }] }

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Energy

AI in the Renewable Energy Sector: Investment Perspective

Article | July 15, 2022

With the popularity of solar increasing across the country, the number of solar installers has been multiplying. Unfortunately, many fly-by-night companies with minimal installation experience or larger national firms with little market history are trying to capitalize on the industry’s growth. In addition, the sheer volume of installation partners that consumers have to choose from can result in a great deal of buyer confusion. More choices, more issues As the number of solar installers has gone up, so have complaints and issues related to providers and their service. Recently, the Minnesota Department of Labor and Industry reached terms with Empire Solar Group LLC’s trustees, a national solar installer that went bankrupt earlier this year, leaving 45 homeowners in Minnesota with projects in various levels of incompletion. Unfortunately, they’re not alone, as many other consumers have also fallen into precarious situations after companies using high-pressure sales tactics have been unable to deliver on the work. Michael Allen, CEO of All Energy Solar, says, “He’s angered that companies go out of business and face no fines.” Allen and other established industry leaders have done their best to help out customers caught in the middle of an installer’s bankruptcy issues, but there is only so much they can do. What protections do consumers have? In some cases, states have put into place protections for consumers; for example, in Minnesota, consumers stranded with uncompleted projects can get access to the state’s Contractor Recovery Fund, which receives money from licensing fees to help offset these costs. But that is of little comfort for those trying to determine what partner to choose for their project. The best bet When picking a solar installation partner, your best bet is to avoid those with high-pressure sales tactics, “too-good-to-be-true” pricing, or ones with little to no installation experience. Don’t simply trust the sales rep, do a little of your own research to see what other customers are saying. Looking for a record of successfully completed projects and businesses with state and national certifications can be another way to confirm credibility.

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Energy

How viable is Underground Hydrogen Storage?

Article | December 23, 2021

Introduction Renewable energy has transformed our planet. It's raised awareness of global warming and climate change. Both governments and ordinary people are seeking to move from fossil fuels to renewable energy because of this awareness. Technology's involvement in this revolution cannot be understated. Thought a few years ago that solar energy would power average houses in small communities. Thanks to the widespread manufacture of lithium-ion batteries, EVs will be the next big thing. Major Renewable Energy Technologies Transforming the Future Power-to-X Despite the name, this is not a conspiracy theory about global dominance. Modern technology converts electricity into synthetic fuels, thermal energy, and hydrogen. This breakthrough technology can minimize fossil fuel dependence by focusing on synthetic ones. It can also help with efficient storage solutions. Green Appliances and Machines Leading household appliance makers are launching solar-powered appliances. This is a wonderful start toward minimizing family power expenses. Many households have begun to invest in gadgets such as solar air conditioners. Distributed Generation Systems Several locations are experimenting with distributed generation. This reduces dependence on a centralized grid and simplifies transmission and distribution. It also reduces grid dependability and failures. Electrification Most European nations are actively electrifying to cut carbon emissions. This is not the same as a power supply. Rather, it implies developing assets and infrastructure that can shift and aid in the adoption of electricity. Providing public EV charging stations is a step towards electrification. Closing Lines Prominent private companies such as Google, Apple, and Microsoft have made significant commitments to renewable energy in recent years. While some governments are actively attempting to make the shift, others have yet to take environmental challenges such as global warming and climate change seriously. Technological breakthroughs are helping to make the transition to renewable energy greener, quicker, and more economical.

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Solar+Storage, Strategy and Best Practices

Slashing Greenhouse Gas Emissions: A Business Perspective!

Article | September 17, 2022

“With Great Power Comes Great Responsibility” – Voltaire (François-Marie Arouet) We, humans, had completely buried this quote until it was brought back to life recently. Business leaders should remember this quote as it perfectly fits into the environmental-business perspective that we are presently facing. If the world has to tackle the problem of climate change or come even close to achieving that goal, businesses and industries will have to play a key role. Almost a quarter, or 23% to be precise, of greenhouse gas emissions in the United States, come directly from industries. This number rises to 29.6% if we combine indirect emissions too. When looking for causes of climate change, the private sector is often linked to. Minimizing your carbon footprint appears to be the year's buzzword, but where can businesses begin with such an ambiguous task? How do we assess progress? Peter Drucker wrote the premise of an answer back in 1954: "What gets measured, gets managed." If a business really wants to become more sustainable, the first step should be to try to understand its current situation and begin tracking its carbon emissions. Measuring carbon emissions is a difficult problem. Major businesses that do not have carbon monitoring and reduction programs have become the exception. Recognizing and measuring CO2 emissions aids in the identification of excessive energy consumption and other inefficiencies. Most of the time, lowering greenhouse gas emissions goes hand in hand with making a business's processes more efficient and cost-effective. Reducing Greenhouse Gas Emissions: What Do Businesses Gain? In addition to the long-term environmental benefits that will help us in saving our planet, organizations can also benefit from the positive impacts of greenhouse gas emission reduction. Some of the top benefits of effective emission management are as follows. Cost Saving When it comes to cost reductions, simply minimizing your energy consumption reduces both your organization's carbon footprint and its operating expenses. According to a 2016 Energy Star report, the owner of Kimberly-Clark Berkley Mill invested $350,000, which generated yearly savings of $160,000 and a rapid return on investment (ROI) of just over one and a half years when LED lighting was installed to replace the fluorescent and HID lighting that was traditionally used. Regulatory Compliance With a 20-fold rise in global climate change regulations since 1997, securing proactive regulatory compliance is much more important than ever in the minds of corporate leadership, public spheres, and stakeholders – and it's only becoming more important. Adopting an effective greenhouse gas emission reduction program, as well as tracking and reporting on progress, is essential for businesses to adopt in order to maintain operations and avoid penalties. Improved External Relations Consumer spending power has an enormous impact on the process of shaping organizational action. In the eyes of the public, the process of committing to responsibility in the domains of broader sustainability and greenhouse gas emissions reduction is a significant credibility boost. When your company takes proactive steps to reduce carbon dioxide and greenhouse gas emissions, the resulting increase in the quality and depth of relationships with potential partners and external business connections is priceless. Enhanced Stakeholder Relationships Along with a stronger relationship with the audience, the influence of transparent sustainability indicators and performance has the potential to strengthen crucial relationships with stakeholders. More investors than ever are shifting capital away from carbon-heavy, secretive businesses and toward companies that have decided to be open, proactive, and honest regarding their greenhouse gas emissions management within the sustainability world and beyond. Emission Sources Defined in Business Operations Within a business's operation chain, emission sources are classified into three categories. These scopes are established so that businesses can trace the source of their greenhouse gas emissions and modify their operations to minimize their carbon footprint. Emission scope is defined as follows: Scope 1 Emission Scope 1 emissions are directly caused by business operations. Organizations with fossil fuel-burning vehicle fleets, for example, are directly liable for carbon emissions by burning those fossil fuels. Scope 2 Emission Scope 2 emissions are caused by an organization purchasing energy (e.g., electricity, heat, or air conditioning) produced by a process that emits greenhouse gases. A scope 2 emission is, for example, electricity generated by burning coal that a business later purchases. Because the company consumes this energy, they must record the emissions generated when it was generated. Scope 3 Emissions Scope 3 emissions are not caused by a company's direct activities. Other entities in a company's value chain are responsible for these emissions. Scope 3 emissions for one organization could be scope 1 and 2 emissions for another. A company that manufactures products, for example, would have scope 3 emissions from a company that eventually disposes of those items. Scope 3 is responsible for most of a company's emissions, accounting for 65% to 95% of a company's carbon footprint. Currently, reporting scope 3 emissions is optional for businesses. Organizations must, however, start tracking their scope 3 emissions since this is where tremendous reductions in carbon emissions can occur. How Are Large Enterprises Measuring and Reducing Their Carbon Footprints? Larger enterprises, like Apple and ExxonMobil, have begun to provide scope 3 emissions data. Other companies are collaborating with their supply chain to build collaborative initiatives among companies to report these emissions. Businesses have begun to cooperate even outside of supply chains. Competitors in the same industry have started to form partnerships to solve the issue of measuring their carbon footprints. Because these organizations often share manufacturers and suppliers, they have decided to deal with the issue together. Other businesses manage environmental sustainability in a different manner.Enterprises in the agriculture industry have pledged to reduce greenhouse gas emissions, recycle, and provide resources and information to smaller agricultural organizations wanting to go green.Many of the world’s leading auto manufacturers help by producing vehicles that are more environmentally friendly and have the better fuel economy. Others are creating alternative-fuel cars or investing in sustainable energy projects. The major retailers, manufacturers, and software companies have all made efforts to reduce their carbon footprint in different ways. Many multinational enterprises are adopting more sustainable business practices, such as using renewable energy and recycled materials in product manufacturing. How Can Small Businesses Seek Help Measuring Their Carbon Footprints? For the time being, many small businesses are finding it difficult to gather data on all these emissions that are beyond their control. According to the BBC, only 10% of more than 1,000 organizations surveyed in the United Kingdom keep track of their carbon footprint. Moreover, one in every five companies does not understand what the term "net-zero" means and a third really hasn't sought any help to make their company more sustainable. Exploring available information on measuring emissions data is the best approach for small businesses to understand more about the ways they can reduce their carbon footprint. The EPA Center for Corporate Climate Leadership includes a wealth of resources to assist small business owners in measuring and reporting their emissions. Business owners can learn how to establish a greenhouse gas inventory, measure their emissions, collaborate with sustainable suppliers, and gather data to develop sustainable solutions. Small businesses can also utilize a carbon footprint calculator to determine the quantity of emissions generated by their activities. Once company owners realize how much carbon they are emitting, they can start to tackle where it is coming from and make the necessary modifications. The most important thing that business owners can do is to always look for ways to improve their business's sustainability. Additional information will be made available to help company owners as they seek guidance on how to minimize their carbon footprint. Best Practices for Companies to Achieve Net Zero and Stay Profitable Transitioning to net zero is such a demanding task that many businesses believe it is impossible to do while retaining profit margins. As a result, many businesses concentrate on low-hanging fruit and short-term alternatives, like offloading emissions onto others by divesting from high-carbon-emitting companies. Businesses, on the other hand, can start by creating a greenhouse gas inventory to monitor their carbon emissions. Here are just a few of the many ways we found that could help your business. Cut Emissions Across the Whole Value Chain For most businesses, the majority of emissions and the possibilities for climate action lie in "scope 3 assets". These aren't owned or managed by the reporting company, but they add to the business's value chain indirectly. Businesses must take action on scope 3 emissions in order to successfully cut emissions. Use Sustainable Web Hosting Services Hosting services are the silent consumers of fossil fuels. Until you host it yourself, your website is most certainly hosted on a data server in a warehouse that runs on fossil fuels. Data servers use a lot of energy since they have to be turned on and kept cool all the time. Renewable Energy Certificates are acquired by sustainable hosting providers in order to claim their renewable energy utilization. Tackle the Root Causes The areas of major emissions are often not the most effective sites for action. It is found that businesses are measuring emissions in order to determine underlying causes, either inside their own processes or anywhere in the value chain. Big tech businesses evaluate power efficiency down to the code level in their AI and cloud implementations and collaborate with chip manufacturers to reduce energy usage in the use of their products. Don’t Automatically Defund High-Carbon Business Investors are often enticed to enhance their portfolio of low-carbon activities merely by rearranging their capital allocation. However, when it comes to really incentivize reduction, a more effective technique is to engage in activities that presently generate high carbon emissions while giving out a clear and urgent roadmap to change. Some activists have realized this idea and are shifting their demands from divestment to a managed shift of high-carbon businesses. Purchase Carbon Offsets Carbon offsets are a type of trade. When you buy an offset, you are contributing to projects that decrease greenhouse gas emissions. A carbon calculator can help you calculate your travel carbon footprint and the monetary cost of those emissions. Remember that carbon offsets do not decrease the quantity of carbon in the atmosphere; rather, they serve as a balancing agent to neutralize the carbon emitted. Carbon offsets could be tax-deductible based on the company from whom you purchase them. Closing Lines Many prominent brands, from Amazon to L'Oréal, have started to make significant investments in renewable energy and commitments to reduce emissions in their freight and logistics operations. Being mindful of how your activities contribute to greenhouse gas emissions can assist you in minimizing your carbon footprint. With the above-mentioned methods under your belt, you will be able to support the environment that we live in a while simultaneously pushing your organization to the next level of success. Don't miss the opportunity to get involved in energy-efficiency and sustainability initiatives for your company because the newest generation of consumers, millennials, have $2.45 trillion in spending power and are eager to spend more on brands that share their values of going green. Frequently Asked Questions What are scope 3 emissions? The Greenhouse Gas Protocol Corporate Standard divides a company's greenhouse gas emissions into three "scopes." Scope 1 emissions are those emitted directly from owned or controlled sources. Scope 2 emissions are those caused by the production of bought energy. Scope 3 emissions encompass all indirect emissions (not included in scope 2) that happen in the reporting company's value chain, both in upstream and downstream emissions. What are product life cycle emissions? All emissions related to the production and utilize a single product, from the cradle to the grave, are referred to as the product life cycle emissions and include emissions from raw materials, manufacturing, transportation, storage, sale, usage, and disposal. How can industries reduce global warming? By implementing passive or sustainable energy-based heating and cooling systems, increasing energy efficiency, and solving other important concerns such as methane leaks, the industry can cut its emissions by 7.3 Gt per year. New food production technologies have the capability to cut emissions by 6.7 Gt per year

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FirstEnergy Ohio Utilities Launch Request for Proposal for 2023 Renewable Energy Credits

PR Newswire | October 20, 2023

FirstEnergy Corp. issued a Request for Proposal (RFP) to purchase Ohio-compliant Renewable Energy Credits (RECs) for its Ohio subsidiaries – Ohio Edison, The Illuminating Company and Toledo Edison. The purchases will help meet the companies' 2023 renewable energy targets established under Ohio's alternative energy law. RECs sought in this RFP must be Eligible for compliance with the companies' 2023 renewable energy obligations. Sourced from generating facilities certified in accordance with rules and procedures put forth by the Public Utilities Commission of Ohio (PUCO). Deliverable through PJM Environmental Information System Generation Attribute Tracking System (EIS GATS) and generated between Jan. 1, 2021, and Dec. 31, 2023. The companies plan to purchase 570,000 RECs, which can include solar renewable energy credits. One REC represents the environmental attributes of one megawatt hour of generation from a PUCO-qualified renewable generating facility. The cost of the RECs is recovered from the utility's standard service offer customers through a monthly charge filed quarterly with the PUCO. No energy or capacity will be purchased under the RFP. The number of individual bidders is not limited. Participants in the RFP must meet and maintain specific credit and security qualifications and must be able to prove their REC generating facilities are certified or in the process of becoming certified by the PUCO. The RFP is a competitive process managed by CRA International, Inc., a worldwide leader in providing services. Based on the RFP results, the Ohio utilities will enter into agreement(s) with winning suppliers to purchase the necessary quantities of RECs. FirstEnergy's Ohio utilities have a website, www.firstenergy-recrfp.com, to provide bidders with a central source of documents, data and other information for the RFP process. On Oct. 24, 2023, at 11:00 a.m. EPT, the FirstEnergy Ohio utilities and their consultant, CRA International, will conduct a webinar to outline the RFP process and the terms of the agreement, as well as to provide a forum to submit any questions. Questions also may be submitted during the RFP process directly through the RFP website. To participate in the RFP, potential bidders are encouraged to submit credit applications by Nov. 17, 2023, and proposals are due Nov. 28, 2023, by 5 p.m. EPT.

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Energy

Biden-Harris Administration Announces Agreement to Supply Federal Facilities in Three Southern States with 100% Carbon Pollution-Free Electricity

PR Newswire | October 26, 2023

The U.S. General Services Administration (GSA) announced a new Memorandum of Understanding (MOU) between GSA and Southern Company to develop carbon pollution-free electricity (CFE) options for federal facilities in Southern Company's service territories. The MOU documents the intent of GSA and Southern Company to collaborate on development of a roadmap that, when executed, will lead to federal agencies in that region buying more CFE and achieving reliability and resiliency objectives outlined in Executive Order 14057 [lnks.gd]. The Biden-Harris Administration is leading by example to tackle the climate crisis through President Biden's Federal Sustainability Plan, which establishes an ambitious path to achieve 100% CFE for Federal government operations by 2030, including 50% on a 24/7 basis, along with aggressive goals for electric vehicles and net-zero emissions buildings. said GSA Administrator Robin Carnahan. This is our fourth MOU with a utility company and it's another example of how GSA is leading by example in tackling climate change, using our buying power and real estate footprint to move markets, create demand, drive efficiency, and catalyze efficiency and clean energy innovation. Through smart partnerships with energy service providers, we can help advance sustainability, create jobs, save taxpayer dollars, and ensure a healthier planet for our kids. [Source:PR Newswire] "Today's announcement delivers on President Biden's vision to build a new economy powered by clean energy—one that creates well-/paying jobs for American workers, healthier air for communities, and increases our energy independence," said Andrew Mayock, the Federal Chief Sustainability Officer with the White House Council on Environmental Quality. Southern Company has a goal to reach a 50% reduction in emissions by 2030, from 2007 emissions levels, and reach net zero greenhouse gas emissions by 2050. Currently, the United States Army is the largest federal customer served by Southern Company. "The Department of Defense and the Army are committed to using carbon-free energy to support our national defense mission," said the Honorable Rachel Jacobson, Assistant Secretary of the United States Army, Installations, Energy and Environment. "Distributed Carbon-free energy generation–when integrated into a modernized grid that includes large-scale storage, upgraded transmission lines, and enhanced cybersecurity controls - is the best way to promote resilience so we can continue to deploy, fight, and win the nation's wars. The Army applauds the GSA-Southern Company agreement. The agreement demonstrates the exact kind of collaboration that is key to improving the reliability and resilience of the commercial grid and achieving our carbon-free energy and readiness goals." "Southern Company recognizes the importance of developing and supplying carbon-free electricity as we continue our efforts toward our goal of reaching net zero by 2050," said Chris Womack, CEO and president of Southern Company. "Through industry-leading innovation and a commitment to a net zero future, we are delivering sustainable and resilient energy solutions that help drive growth and prosperity. This partnership will serve as another important step toward these goals." GSA will continue to engage with Southern Company and other utilities to explore the advancement of potential CFE solutions including solar, battery storage, nuclear power, on-site generation and new sustainable technologies like clean hydrogen.

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Energy

SEW Acquires GridExchange - Transactive Energy Platforms - Pioneering the Future of Clean Energy Transition

Business Wire | October 25, 2023

SEW, a global leader in AI-Powered Connected Customer (CX) and Workforce (WX) Experience Industry Cloud Platforms, announces its acquisition of GridExchange, a cutting-edge Transactive Energy software platform, from Alectra Utilities Corporation. GridExchange empowers energy consumers to transition from passive users to proactive prosumers, leveraging distributed energy resources (DERs) such as solar panels, battery storage, and EV (Electric Vehicles). Through a secure and user-friendly Customer Experience (CX), GridExchange facilitates seamless exchanges of energy, driving a reduction in greenhouse gas CO2 emissions, lowering energy costs, and strengthening grid resiliency. stated Deepak Garg, CEO and Founder of SEW. At SEW, we are shaping a clean and sustainable energy future. The acquisition of GridExchange aligns perfectly with our vision and strategy of an intelligent, resilient, and sustainable energy ecosystem. Our journey towards a sustainable future begins with empowering and educating individuals and businesses alike to actively participate in the energy revolution," emphasized Deepak Garg. "By integrating GridExchange into our SEW connected platform, we are not only driving cleaner energy transition and adoption but also revolutionizing the way people and communities engage with their energy consumption. [Source:Business Wire] GridExchange’s web and mobile application allows utilities to engage customers with DERs, optimizing grid operations by managing peak load and maximizing GHG reduction. Customers, in turn, have the flexibility to contribute excess energy or adjust consumption patterns in exchange for financial incentives and loyalty rewards redeemable at local businesses. Brian Bentz, President and CEO of Alectra, emphasized, "Our development of GridExchange, which helped to enable non-wires alternative pilots in our service territory, illustrates our commitment to enabling customers to participate in local energy markets. We are pleased that SEW will now be taking this platform to a global market.” Key benefits of the SEW-GridExchange platform include Empowering Energy Choices: Customers can harness the potential of existing DERs, transforming into proactive contributors to the energy ecosystem. Reducing GHG Emissions: The incentivization of clean energy usage through GridExchange leads to a notable reduction in greenhouse gas emissions. Enhancing Grid Planning: The platform unlocks and optimizes DER values, increasing grid flexibility and resiliency; and contributes to integrated system planning with non-wires alternatives, reducing or deferring overall energy system costs. Advocating for Policy Change: The initiative motivates regulators to propose standards and policies that pave the way for a cleaner energy future. GridExchange’s innovative application also demonstrates the following objectives Leveraging cutting-edge transactive energy technology to facilitate DER participation in grid services and accurately track energy generation and consumption's GHG impact. Incentivizing customers who own or operate DERsl by providing valuable grid services. Introducing a pioneering customer rewards program, where points earned are redeemable for a range of goods and services from participating merchants. SEW is committed to building a resilient and sustainable energy ecosystem through the integration of advanced technologies like AI, ML, and IoT. With over 1.2 billion users and adoption by 410+ utilities worldwide, SEW is at the forefront of driving the transition towards an intelligent energy future. This landmark acquisition not only signifies a major stride towards sustainable energy, but also underscores SEW's commitment to pioneer a greener future through advanced technology. SEW's mission is to engage, empower, and educate billions of people worldwide to conserve energy and water. Now, with the addition of GridExchange, SEW is poised to take sustainability to new heights. About Alectra Inc. Alectra Inc., through its subsidiary Alectra Utilities Corporation, serves approximately one million homes and businesses across an 1,800 square kilometers service territory comprising 17 communities including Alliston, Aurora, Barrie, Beeton, Brampton, Bradford West Gwillimbury, Guelph, Hamilton, Markham, Mississauga, Penetanguishene, Richmond Hill, Rockwood, St. Catharine’s, Thornton, Tottenham and Vaughan. The Alectra family of companies includes Alectra Inc. (Mississauga), Alectra Utilities Corporation (Hamilton) and Alectra Energy Solutions (Vaughan). About SEW SEW, with its innovative and industry-leading connected cloud platforms, delivers the best Digital Customer Experiences (CX) and Workforce Experiences (WX), powered by AI, ML, and IoT Analytics to the global energy, water, and gas providers. At SEW, the vision is to Engage, Empower, and Educate billions of people to save energy and water. We partner with businesses to deliver platforms that are easy-to-use, integrate seamlessly, and help build a strong technological foundation that allows them to become future ready.

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Energy

FirstEnergy Ohio Utilities Launch Request for Proposal for 2023 Renewable Energy Credits

PR Newswire | October 20, 2023

FirstEnergy Corp. issued a Request for Proposal (RFP) to purchase Ohio-compliant Renewable Energy Credits (RECs) for its Ohio subsidiaries – Ohio Edison, The Illuminating Company and Toledo Edison. The purchases will help meet the companies' 2023 renewable energy targets established under Ohio's alternative energy law. RECs sought in this RFP must be Eligible for compliance with the companies' 2023 renewable energy obligations. Sourced from generating facilities certified in accordance with rules and procedures put forth by the Public Utilities Commission of Ohio (PUCO). Deliverable through PJM Environmental Information System Generation Attribute Tracking System (EIS GATS) and generated between Jan. 1, 2021, and Dec. 31, 2023. The companies plan to purchase 570,000 RECs, which can include solar renewable energy credits. One REC represents the environmental attributes of one megawatt hour of generation from a PUCO-qualified renewable generating facility. The cost of the RECs is recovered from the utility's standard service offer customers through a monthly charge filed quarterly with the PUCO. No energy or capacity will be purchased under the RFP. The number of individual bidders is not limited. Participants in the RFP must meet and maintain specific credit and security qualifications and must be able to prove their REC generating facilities are certified or in the process of becoming certified by the PUCO. The RFP is a competitive process managed by CRA International, Inc., a worldwide leader in providing services. Based on the RFP results, the Ohio utilities will enter into agreement(s) with winning suppliers to purchase the necessary quantities of RECs. FirstEnergy's Ohio utilities have a website, www.firstenergy-recrfp.com, to provide bidders with a central source of documents, data and other information for the RFP process. On Oct. 24, 2023, at 11:00 a.m. EPT, the FirstEnergy Ohio utilities and their consultant, CRA International, will conduct a webinar to outline the RFP process and the terms of the agreement, as well as to provide a forum to submit any questions. Questions also may be submitted during the RFP process directly through the RFP website. To participate in the RFP, potential bidders are encouraged to submit credit applications by Nov. 17, 2023, and proposals are due Nov. 28, 2023, by 5 p.m. EPT.

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Energy

Biden-Harris Administration Announces Agreement to Supply Federal Facilities in Three Southern States with 100% Carbon Pollution-Free Electricity

PR Newswire | October 26, 2023

The U.S. General Services Administration (GSA) announced a new Memorandum of Understanding (MOU) between GSA and Southern Company to develop carbon pollution-free electricity (CFE) options for federal facilities in Southern Company's service territories. The MOU documents the intent of GSA and Southern Company to collaborate on development of a roadmap that, when executed, will lead to federal agencies in that region buying more CFE and achieving reliability and resiliency objectives outlined in Executive Order 14057 [lnks.gd]. The Biden-Harris Administration is leading by example to tackle the climate crisis through President Biden's Federal Sustainability Plan, which establishes an ambitious path to achieve 100% CFE for Federal government operations by 2030, including 50% on a 24/7 basis, along with aggressive goals for electric vehicles and net-zero emissions buildings. said GSA Administrator Robin Carnahan. This is our fourth MOU with a utility company and it's another example of how GSA is leading by example in tackling climate change, using our buying power and real estate footprint to move markets, create demand, drive efficiency, and catalyze efficiency and clean energy innovation. Through smart partnerships with energy service providers, we can help advance sustainability, create jobs, save taxpayer dollars, and ensure a healthier planet for our kids. [Source:PR Newswire] "Today's announcement delivers on President Biden's vision to build a new economy powered by clean energy—one that creates well-/paying jobs for American workers, healthier air for communities, and increases our energy independence," said Andrew Mayock, the Federal Chief Sustainability Officer with the White House Council on Environmental Quality. Southern Company has a goal to reach a 50% reduction in emissions by 2030, from 2007 emissions levels, and reach net zero greenhouse gas emissions by 2050. Currently, the United States Army is the largest federal customer served by Southern Company. "The Department of Defense and the Army are committed to using carbon-free energy to support our national defense mission," said the Honorable Rachel Jacobson, Assistant Secretary of the United States Army, Installations, Energy and Environment. "Distributed Carbon-free energy generation–when integrated into a modernized grid that includes large-scale storage, upgraded transmission lines, and enhanced cybersecurity controls - is the best way to promote resilience so we can continue to deploy, fight, and win the nation's wars. The Army applauds the GSA-Southern Company agreement. The agreement demonstrates the exact kind of collaboration that is key to improving the reliability and resilience of the commercial grid and achieving our carbon-free energy and readiness goals." "Southern Company recognizes the importance of developing and supplying carbon-free electricity as we continue our efforts toward our goal of reaching net zero by 2050," said Chris Womack, CEO and president of Southern Company. "Through industry-leading innovation and a commitment to a net zero future, we are delivering sustainable and resilient energy solutions that help drive growth and prosperity. This partnership will serve as another important step toward these goals." GSA will continue to engage with Southern Company and other utilities to explore the advancement of potential CFE solutions including solar, battery storage, nuclear power, on-site generation and new sustainable technologies like clean hydrogen.

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Energy

SEW Acquires GridExchange - Transactive Energy Platforms - Pioneering the Future of Clean Energy Transition

Business Wire | October 25, 2023

SEW, a global leader in AI-Powered Connected Customer (CX) and Workforce (WX) Experience Industry Cloud Platforms, announces its acquisition of GridExchange, a cutting-edge Transactive Energy software platform, from Alectra Utilities Corporation. GridExchange empowers energy consumers to transition from passive users to proactive prosumers, leveraging distributed energy resources (DERs) such as solar panels, battery storage, and EV (Electric Vehicles). Through a secure and user-friendly Customer Experience (CX), GridExchange facilitates seamless exchanges of energy, driving a reduction in greenhouse gas CO2 emissions, lowering energy costs, and strengthening grid resiliency. stated Deepak Garg, CEO and Founder of SEW. At SEW, we are shaping a clean and sustainable energy future. The acquisition of GridExchange aligns perfectly with our vision and strategy of an intelligent, resilient, and sustainable energy ecosystem. Our journey towards a sustainable future begins with empowering and educating individuals and businesses alike to actively participate in the energy revolution," emphasized Deepak Garg. "By integrating GridExchange into our SEW connected platform, we are not only driving cleaner energy transition and adoption but also revolutionizing the way people and communities engage with their energy consumption. [Source:Business Wire] GridExchange’s web and mobile application allows utilities to engage customers with DERs, optimizing grid operations by managing peak load and maximizing GHG reduction. Customers, in turn, have the flexibility to contribute excess energy or adjust consumption patterns in exchange for financial incentives and loyalty rewards redeemable at local businesses. Brian Bentz, President and CEO of Alectra, emphasized, "Our development of GridExchange, which helped to enable non-wires alternative pilots in our service territory, illustrates our commitment to enabling customers to participate in local energy markets. We are pleased that SEW will now be taking this platform to a global market.” Key benefits of the SEW-GridExchange platform include Empowering Energy Choices: Customers can harness the potential of existing DERs, transforming into proactive contributors to the energy ecosystem. Reducing GHG Emissions: The incentivization of clean energy usage through GridExchange leads to a notable reduction in greenhouse gas emissions. Enhancing Grid Planning: The platform unlocks and optimizes DER values, increasing grid flexibility and resiliency; and contributes to integrated system planning with non-wires alternatives, reducing or deferring overall energy system costs. Advocating for Policy Change: The initiative motivates regulators to propose standards and policies that pave the way for a cleaner energy future. GridExchange’s innovative application also demonstrates the following objectives Leveraging cutting-edge transactive energy technology to facilitate DER participation in grid services and accurately track energy generation and consumption's GHG impact. Incentivizing customers who own or operate DERsl by providing valuable grid services. Introducing a pioneering customer rewards program, where points earned are redeemable for a range of goods and services from participating merchants. SEW is committed to building a resilient and sustainable energy ecosystem through the integration of advanced technologies like AI, ML, and IoT. With over 1.2 billion users and adoption by 410+ utilities worldwide, SEW is at the forefront of driving the transition towards an intelligent energy future. This landmark acquisition not only signifies a major stride towards sustainable energy, but also underscores SEW's commitment to pioneer a greener future through advanced technology. SEW's mission is to engage, empower, and educate billions of people worldwide to conserve energy and water. Now, with the addition of GridExchange, SEW is poised to take sustainability to new heights. About Alectra Inc. Alectra Inc., through its subsidiary Alectra Utilities Corporation, serves approximately one million homes and businesses across an 1,800 square kilometers service territory comprising 17 communities including Alliston, Aurora, Barrie, Beeton, Brampton, Bradford West Gwillimbury, Guelph, Hamilton, Markham, Mississauga, Penetanguishene, Richmond Hill, Rockwood, St. Catharine’s, Thornton, Tottenham and Vaughan. The Alectra family of companies includes Alectra Inc. (Mississauga), Alectra Utilities Corporation (Hamilton) and Alectra Energy Solutions (Vaughan). About SEW SEW, with its innovative and industry-leading connected cloud platforms, delivers the best Digital Customer Experiences (CX) and Workforce Experiences (WX), powered by AI, ML, and IoT Analytics to the global energy, water, and gas providers. At SEW, the vision is to Engage, Empower, and Educate billions of people to save energy and water. We partner with businesses to deliver platforms that are easy-to-use, integrate seamlessly, and help build a strong technological foundation that allows them to become future ready.

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