ScottishPower has released a guide on revenue opportunities presented by investing in green energy solutions.
The report follows YouGov research which found that only one in five (20%) of the nation’s small and medium sized businesses (SMEs) have invested in clean energy solutions, despite their potential revenue benefits.
Commissioned by the distribution network operator (DNO), the research found that 34% of business leaders not investing in clean energy have not done so due to the high cost involved.
Moreover, one in ten businesses leaders cited a lack of information on the technologies as a reason for not curbing their carbon footprint.
EV chargepoints
ScottishPower used electric vehicle (EV) chargepoints as an example of how investing in green technologies can help generate additional revenue for SMEs.
Qualifying businesses, said the report, are able to host a chargepoint, or a number of chargepoints, joined to ScottishPower’s own public network. This would incur no upfront cost for the business, but they will benefit from a share of revenue generated through public use of their chargepoints.
As the chargepoints are connected to ScottishPower’s network, the DNO would also cover operational expenses such as electricity and maintenance costs, as well as handling customer support.
According to the report: “Looking at behaviours of EV owners shows they’re often keeping an eye out for convenient charge points. This can lead to the discovery of new places, offering businesses opportunities to attract new customers.”
Solar panels and PPAs
The report also noted that business with installed solar panels are able to gain revenue by selling any unused energy generated, back to the gris via a Smart Export Guarantee tariff.
To help with upfront costs, the DNO suggested SME’s explore power purchase agreements (PPAs).
PPAs enable businesses to buy their energy for a long period of time (usually 10 to 20 years) at fixed prices, providing the businesses with some cost stability. But, the report noted, some PPA providers also offer support that could help reduce capital investment.
ScottishPower for example offers support to electrify heating systems as part of its PPAs.
“This new research highlights the challenges for SMEs looking to achieve net zero but with our guide we hope business leaders can seize the opportunities that exist from adopting green energy solutions,” said Mark Bowen, sales & marketing director at ScottishPower.
“We want to help businesses to decarbonise and support their transition away from fossil fuels to a low carbon future. From short-term wins to help business leaders take control of energy usage through to longer-term solutions that accelerate their journey to net zero, the new guide is focussed on supporting businesses to make the right choices.”