A common belief among energy consumers is that buying renewable electricity to become a more sustainable business is more expensive than traditional sources. While this can be the case, Vervantis has found many examples where renewable energy has been either cost-neutral or at a lower cost than utility rates. If physical assets are viable, it is possible to structure funding with zero out of pocket through power purchase agreements (PPA’s) using third party vendors.
Renewable Electricity – What are the Benefits?
When most people have to answer this question, invariably they will say “because it’s the right thing to do.” However, in business, doing the right thing has to be financially sustainable, including ensuring the execution of several checks and balances so that all the benefits of renewable electricity are accounted for. This process can involve different departments within an organization and typically includes some of the following areas and teams:
• Economic – Finance Team
• Environmental – Sustainability Team
• Supply – Procurement Team
• Brand – Marketing Team
• Marketing – Sales Team
Each element has a string of attributes that vary in value from one company to the next, so the importance of conducting comprehensive, holistic evaluations can not be understated.
Where Do I Start?
One of the best places to start is with experienced independent practitioners. The most important aspect of a program that involves so many moving parts is for the advice you receive to be unfettered or compromised by hidden agendas. As genuinely independent specialists, we welcome the opportunity to discuss your project ideas and goals and offer a free one-hour consultation with one of our renewable energy experts to help you get started.
Want More Information?
No problem. We have written a guide to energy procurement that explains some of the considerations in managing an energy RFP yourself or if using a third-party, guidance on the different types of support. You can read it here.