GridBeyond has released a new tool designed to help businesses learn how much they could save through demand response and energy optimisation.
The Energy Opportunity Calculator is aimed at industrial and commercial (I&C) businesses and offers results based on the typical percentage of flexibility from the user’s industry, the typical services and programmes available to that industry and the value of these programmes.
The results are then split into revenues and savings, with revenues based on demand response and capacity opportunities and savings based on typical energy efficiencies, trading and price optimisation opportunities and operational efficiencies.
To calculate this, users input location, industry and electricity consumption in MW, kWh, MWh or electricity spend.
A bespoke report can then be downloaded containing further detail.
Michael Phelan, CEO and co-founder of GridBeyond, said that the visibility of a site’s value in the energy markets is “often clouded” from an end user’s perspective.
“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 DSR.”
The Energy Opportunity Calculator has therefore been created to help address this issue.
I&C demand response is a key focus of GridBeyond, having partnered with Electricity North West in 2018 to offer demand-side response to 900 businesses within the DNO’s area.
In addition, the company delivers demand response revenues, enhanced savings, strengthened operations and sustainability to over 400 I&C sites worldwide.
It secured £9 million in a funding round in January, with investments from the likes of ESB and Total.