GridBeyond Launches Free Tool to Calculate Value of Energy Flexibility
GridBeyond, a leader in intelligent energy technology, has released a free online tool for use within the commercial and industrial industry – the Energy Opportunity Calculator. The tool enables industrial and commercial businesses to calculate how much money they could earn and save through demand response and energy optimization services.
GridBeyond’s experience in the energy markets and extensive engineering knowledge of site assets and inherent flexibility, drew the company to develop the Energy Opportunity Calculator. Energy users quickly and simply enter three pieces of information: location, industry and electricity consumption, and the calculator outputs the estimated financial benefits they could achieve.
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“In our mission to simplify the complex energy market, the Energy Opportunity Calculator provides industrial and commercial businesses the opportunity to understand their potential earnings and savings without undertaking a full audit,” said Michael Phelan, CEO & Co-Founder, GridBeyond. “We found that from an end-user’s perspective, the visibility of a site’s value in the energy markets is often clouded. Service providers talk extensively about value per MW, but don’t necessarily have the knowledge of application to ascertain the amount of flexibility actually available within particular industries and the breadth of services both within and outside of demand response.”
The results are split into two sections, revenues and savings. The tool uses the typical percentage of flexibility for the user’s industry, the typical services and programs available to that industry, and the values of those programs to generate the results. The revenues are based on demand response and other network opportunities, while the savings are based upon typical energy efficiencies, trading and price optimization opportunities, as well as the operational efficiencies that can be attained. The user can then download a custom-made, personalized report containing further detail on their results, with additional information on the services they can participate in, the assets typically found in their industry, and an overview of their market.
“While this tool does not negate the need for a full audit, as we understand there are nuances and differences from site to site, we do see the value to our prospective clients in learning what they could earn and save,” said Phelan. “It’s a tool to start conversations within businesses based on our own benchmarking from years of working within energy management and demand response for industrial and commercial sites.”
Enterprise Ireland is thrilled to support GridBeyond as they use their expertise to launch this new, innovative tool to help industrial and commercial businesses learn how to more effectively think about their energy usage. Enterprise Ireland, Ireland’s trade and innovation agency, partners with Irish enterprise companies to help them start, grow, and win export sales in global markets.
“Energy flexibility is an often-overlooked source of revenue and savings which can help businesses to strengthen their financial position, especially during such challenging times for all industries due to COVID-19. I’m delighted to share this tool with our prospective clients since it will enable energy users to truly understand the scale of the opportunities we’re talking about,” said Wayne Muncaster, VP of North America, GridBeyond. “Within the ever-changing electricity markets, while we can’t guarantee market values, we can guarantee that our clients are in the best position to benefit from the most lucrative programs for their operational capability. This new tool demonstrates the best-case scenario for numerous types of operations, which is what I believe many industrial and commercial businesses are looking for.”
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