More people and businesses are turning to renewable energy sources each year. It may seem like bad news for some utility companies, and some of them are fighting the advent of renewable energy hard. However, it's probably better for utility companies to take advantage of the growing renewable energy trend. Here's why, and how.
Why Many Utility Companies See Renewable Energy as a Threat
There are various aspects to the arguments many utility companies have against renewable energy. Often, the investor-owned utility companies have the most to lose to renewable energy.
Renewable energy sources reduce the demand for power from a utility company. It also causes utility companies to find other ways to make up the loss of revenue. This typically involves increasing their fees, which can cause many issues.
One of those issues is the possibility customers will move on to renewable energy sources to offset those increased fees. It can turn into a bad cycle.
Why Many Utility Companies Should Consider the Possibilities Offered by Renewable Energy
Renewable energy is here to stay, and more people will flock to it each year. Businesses, homeowners, and others have already started to move towards renewable energy. The grids crisscrossing the country are losing more and more people.
In addition, the auxiliary markets for renewable energy are also growing. Better, more efficient solar panels and other energy-generating methods are coming out all the time. Better, more powerful batteries are making it possible for people to store power. Utility companies will have to start rethinking their strategies, rather than fighting against a change that's not slowing down.
If everybody else is jumping to renewable energy, why aren't the utility companies as well? Finagling the net metering system and battling to change policy isn't helping. It's time to look at other options.
How to Take Advantage of Renewable Energy
The old saying goes, "if you can't beat them, join them." Many utility companies are finding it beneficial to become the providers of solar and other forms of renewable energy. This will allow utility companies to bring solar and other renewable energy sources to people on their own terms.
Distribution gives utility companies the ability to stay at the front of change. It allows them to spread their brand and expertise in new markets. Distribution gives utility companies control over the logistics, numbers, and figures associated with renewable energy use.
Besides, utility companies can also use renewable energy themselves. Collecting energy to supplement the grid can only help. Commercial and industrial grade energy storage options exist.
With modern storage methods, utility companies can reduce their reliance on power plants and other energy producers. This also gives utility companies the ability to provide power if there's an energy crisis.
The key here is for utility companies to not think of renewable energy as a problem. It's an opportunity. Renewable energy, especially when combined with storage, can prepare a utility company for the future. Contact a company, like Fractal Energy Storage Consultants, for more help.
Share2 December 2017
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