No one can predict the future. But it’s a safe bet that Ontario’s sky-high electricity prices are going to continue climbing in the coming years. The numbers are truly shocking: On-peak cost has increased by a whopping 418% since 2003. For industrial and commercial companies in particular, the surging electricity prices are cause for pause and planning. It’s time to reconsider energy spend, and develop smarter strategies for electricity savings.
Currently, most large energy consumers spend 25% to 30% of their annual operating budget on energy. And yet, the power they receive is decreasing in quality. Unreliable power has significant consequences for industry and commercial consumers, for whom output and accuracy are paramount. Even short interruptions can result in serious delays, making a large impact on the bottom line.
For this reason, incentives have been introduced to encourage businesses to invest in CHP systems. And while making the decision to invest in new infrastructure undoubtedly pays off in the long-term, it requires a significant capital investment up front. For a company seeking to reduce energy costs and save electricity, it’s a classic catch-22. Spend money to save money. But is that really necessary?
Energy Storage as a Service (ESaaS)
ESaaS is Constant Power’s core focus. It’s a solution that combines advanced battery storage and custom-made energy management controls, delivered through a service contract. ESaaS grid power storage requires zero capital outlay, and incurs no technology risk, enabling our customers to begin saving immediately, without any initial investment. ESaaS also delivers far higher quality power than CHP generation, since ESaaS monitors and controls power quality all the time- even when it’s not in storage mode.
No Capital Outlay
The ESaaS business model is completely unique, setting Constant Power apart from other power storage system competitors. Rather than simply selling grid storage technologies to our customers, at Constant Power, we design, install, and continue to manage and monitor the power programs we deliver. The financing is included in the fixed monthly cost associated with your contract. Implementing ESaaS grid power storage requires no up-front investment to begin saving.
No Technology Risk
Since Constant Power is responsible for monitoring and maintaining our grid energy storage systems, our customers are able to implement this new technology without incurring any risk. We guarantee the operational excellence of our systems. But in the event that an ESaaS system fails or does not operate, Constant Power takes full responsibility for any down time, and compensates the customer for potentially lost savings based on the guaranteed contract value that would have been saved if the system was operating.
ESaaS provides cost savings in a number of different ways:
1) No Operational Requirements
Constant Power takes care of every aspect of your Energy Storage program. There is no need to hire additional team members to implement and manage the system.
2) Subscription Included
ESaaS requires absolutely no initial capital outlay. It’s all included in your monthly payment.
3) Demand Response Participation and Peak Avoidance
ESaaS stores energy during low demand periods for use during peak demand periods, delivering high quality power at a 50% reduced rate! As new local and universal incentives are introduced by the utility, they are automatically added to all applicable ESaaS contracts, further increasing electricity savings.
4) Sell Back Power to the Grid
Storing energy during low demand periods often results in surplus, quality power. This power can be sold back to the grid, returning additional savings to the bottom line.
UPS for Less
Perhaps most importantly, the ESaaS method of delivering stored power during peak demand periods ensures steady, reliable, high quality power, even when the traditional grid is experiencing interruptions. ESaaS clients can improve their output and continually meet all commitments to their customers. It’s Uninterrupted Power Supply (UPS) that delivers a 50% cost savings on your annual energy bill.
It’s time to reimagine how your company allocates spend on energy infrastructure. Begin your savings today by requesting an initial assessment with Constant Power. It’s completely free of charge. For more information, take a look at the Frequently Asked Questions (FAQ) section on the Constant Power website.
 The Toronto Sun, “Higher Electricity Rates Kick in for Toronto”, http://www.torontosun.com/2016/05/01/higher-electricity-rates-kick-in-for-ontario