The goal is for our worldwide energy economy to increasingly rely on power generation from renewable resources. In Ontario, the Global Adjustment fee was introduced in order to finance new, green power generation options. As a result, the province became the first jurisdiction in North America to fully eliminate coal based generation.
But one of the challenges inherent in green generation is the unpredictable supply of the natural resources necessary to create power- for instance, wind, or sunlight. In the case of wind generation, more power is typically generated at night, when demand on the grid is low. And as our grid in Ontario introduces more green generated power, this may come to influence the quality of power we receive.
For industrial and commercial consumers, for whom reliable power generation is a necessity for business maintenance and growth, green power storage has become the best solution to the challenges of power generated by renewable resources. Wind power storage and solar power storage allow the user to store power when it is most abundant- and cheapest- and then utilize this power to offset cost and unreliability during peak periods.
Across the world, new legislation is being introduced that mandates the integration of energy storage for power systems in new project builds. But battery power storage is not without its challenges either. And for many industrial and commercial consumers, the technology risks associated with green power storage have been prohibitive to the implementation of such measures.
Power Storage Technology Risks
The risks associated with battery power storage can reduce a candidate’s likelihood to secure funding for a grid energy storage project. In general, some of the risk that is assessed to access funding include:
Asset Class Operations
Will the actual cash flow differ from the estimate?
Will there be enough resource available to store?
Will the project save money as compared to market value?
What if the system fails or does not operate?
ESaaS: No-Risk Grid Battery Storage
Constant Power’s Energy Storage as a Service (ESaaS) grid storage program is a highly anticipated solution to the challenges facing energy storage today. ESaaS is a unique combination of advanced battery storage and a tailor-made energy management system, delivered through a service contract. ESaaS requires no up-front investment, since financing for the project is included in an affordable, fixed monthly rate. Constant Power takes full responsibility for the grid energy storage system, providing continual monitoring, maintenance, and insurance.
The ESaaS total service model:
Eliminates Asset Class Operations Risk
ESaaS customers receive a tailor-made program that evolves over time. As new incentives are made available by the utilities, they are automatically applied to the program, adding to the customer’s savings.
Eliminates Resource Risk
ESaaS does not require a separate generation source. The power storage system simply pulls electricity from the grid, guaranteeing backup power. ESaaS also improves power quality as it manages electricity delivered to your facility at all times, even when the system is not in storage mode.
Eliminates Market Risk
ESaaS customers establish an affordable, fixed monthly rate at the outset of their contract, to be carried forth for a number of years. This provides a buffer against the ever-inflating energy prices in the Ontario market.
Eliminates Technology Risk
Constant Power continues to monitor, operate, and maintain the grid battery storage technology, eliminating the need to acquire additional labour resources for the project. And in the event that the system fails or does not operate, Constant Power reimburses the customer for any lost savings during down time.
On average, ESaaS customers benefit from a 50% reduction in annual energy spend, without ever having to invest any up-front capital or assume any risk. Begin your savings today by contacting the Constant Power team for more information.