The Business Case for Diversifying Your Energy Sources

July 3, 2022

Energy diversification refers to the use of multiple sources for your overall power supply instead of relying on a single provider, e.g. energy drawn from the traditional grid. While natural gas can be an option for those looking to add a new power source, entities working toward energy diversification (ranging from individual businesses to entire countries) will ideally prioritize renewable sources like solar, wind, and hydroelectricity.

A diversified energy supply by way of renewables comes with an extensive list of environmental benefits. The turn to renewables:

  • Reduces your company’s carbon footprint
  • Lends support to clean energy systems that benefit greatly from new growth and users
  • Makes use of power that is generated in your area, requiring fewer resources to transport energy to you

Undoubtedly, it’s a good move for the planet. But what does it mean for your day-to-day operations? From a business perspective, diversified energy carries more benefits (and brings fewer headaches) than you might expect.

It’s a move toward greater energy security

If you’ve heard anything about energy diversification before today, it’s likely this: Diversified energy sources improve reliability and greatly reduce the risk of power outages.

When you rely on a single energy source, there’s no room for error. A loss of power equates to a  

halt in any day-to-day operations that require electricity. (We’ll go ahead and assume that’s… just about all of your day-to-day operations.)

By their very nature, diversified energy sources offer a solution to this issue. Your power is coming from more than one place, so if one provider experiences failure—like a weather-related outage on the grid—you’ll have other sources that remain operational, helping you avoid any costly inconveniences that come with power loss.

Catalyst Power’s Connected Microgrid is designed to meet this need. On-site power generation takes place through a solar array installed on your property, with battery storage and natural gas backup generation available. In the event of a routine outage or major crisis affecting the availability of energy from the larger grid, you won’t have to worry about keeping the lights on. That’s the true power of adding a new energy source and keeping it (very) close to home.

Getting started is more cost-effective than you might think…

Change can be costly—but shifting your energy sources doesn’t have to be. Tax credits, grants, and other renewable energy programs make it easy to diversify your company’s power sources without major financial investments.

In the case of a Connected Microgrid, your system will be installed and maintained at no cost to you, so there won’t be any budgetary hurdles to clear in the form of startup costs or associated expenses for ongoing operations.

… and you’ll enjoy long-term savings

After you’ve implemented a new power source, the positive financial impact continues. The key to the price benefits of renewable energy lies right in the name: Unlike the multimillion-year process that leads to the generation of fossil fuels, energy sources like solar and wind are consistently being, well, renewed.

When it comes to oil, demand shifts and a whole host of geopolitical factors leave us at the mercy of corporations to determine pricing, so we’re all susceptible to wild spikes in our spending on power. (None of this will come as a surprise to anyone who’s glanced at an energy bill lately.)

In contrast, renewables offer ongoing generation wherever you are and deliver a new degree of consistency in energy pricing. When you sign a Power Purchase Agreement to bring a Connected Microgrid to your property, you’ll lock in lower energy prices that are guaranteed for the length of your contract.

You’re investing in your future success

As long as oil and gas remain in demand, corporations have every incentive to charge high prices and offer very little in terms of stability. Meanwhile, new developments in renewables continue to make them more accessible.

In other words, a collection of forces are quickly making renewables the most reasonable choice for your energy needs. By taking a first step to diversify your power sources now, you’re setting yourself up to more easily make additional transitions in the future and be ahead of the curve as we collectively establish energy systems that protect our planet.

Ready to get started? See how a Connected Microgrid can bring new energy to your business!

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