Considering adding renewable power to your organization? We’ll tell you why it’s a good idea.
The power and utilities industry started strong in the new decade. Trends around climate goals, DER, and growth are expected to continue; however, the COVID-19 pandemic has altered the path of the clean energy transition1. Is this a positive change?
When the pandemic struck the world, several shifts occurred. We saw oil and gas prices drop dramatically, we saw a 5.7% decline in electricity consumption, we saw solar and wind output grow, we saw commercial and industrial demand decline, and we saw the electric load deurbanize as people moved to lower density areas.1 We saw photos taken of clear, sunny skies in urban areas where previously they were full of smog. We saw a shift from commuting daily to work to more flexible hours and working from home.
Is this a good thing?
At the beginning of the year, the power and utilities industry was raising the bar on climate goals, and now it appears it will clear that bar sooner than expected thanks to a ‘raised floor’, now that renewables acquired a higher share of electricity demand.1
The pandemic has pushed the need for carbon reduction and exposed the health impact of emissions. The power and utilities industry can sustain or accelerate decarbonisation over the next six months.1 Safety has been a core value in the utilities industry, so ensuring that critical lifeline services are not interrupted has created a challenge.2 If global leaders seize the opportunity to design economic recovery packages to accelerate the shift toward renewables such as wind and solar power, rather than “propping up” the fossil fuel economy, we can transition to clean energy sooner.3
The shift to clean energy post-pandemic is expected to aid economic recovery, creating new jobs and energy security. Renewable energy sources make the energy grid more reliable and resilient. On the other hand, imported oil can have major price fluctuations and supply interruptions, which make it unreliable.
Consider renewable energy options for your organization to lower energy prices and create a more reliable source of power. N-Sci Technologies can help you choose the right alternative energy option and create a design that will reduce your monthly power bills. Looking for someone to monitor your power meters, or need meters updated and/or replaced? N-Sci can help with that too. Give us a call today at 705-949-1033, or email email@example.com to get started. We look forward to hearing from you.
1Deloitte. (2020). 2020 Power and Utilities Industry Outlook. Retrieved from: https://www2.deloitte.com/us/en/pages/energy-and-resources/articles/power-and-utilities-industry-outlook.html
2Accenture. (March 26, 2020). COVID-10: Strengthening enterprise resiliency in utilities. Retrieved from: https://www.accenture.com/ca-en/insights/utilities/coronavirus-enterprise-resilience-utilities
3Gardiner, Beth. (May 12, 2020). How Renewable Energy Could Emerge on Top After the Pandemic. Retrieved from Yale: https://e360.yale.edu/features/how-renewable-energy-could-emerge-on-top-after-the-pandemic