As autumn and inevitably winter approaches high energy prices are becoming a more and more relevant topic for both businesses and homeowners. Even during the summer months, record-breaking energy prices have made the front pages of daily newspapers, with no signs of slowing their ascent.
This is just one of the reasons why Tarvo Õng, the CEO of Fusebox was asked to attend the Cleantech radio show in Estonia where the main topic was to find out what businesses and homes can do to mitigate the rising energy prices before the coming cold season.
You can listen to the radio show here. For those who are struggling a bit with their Estonian, you can read what was said in the below blog post.
It is cheaper to reduce than produce electricity
From time to time the national grid operators such as Elering face a problem when the energy consumption exceeds that of production. This can happen on average about 3 times a day and to combat that there really are 2 options.
- The grid operator produces more energy to cover the demand
- The grid operator tries to lower the consumption at these times to lessen the demand
In the first case, the grid operators usually turn to peak-time fossil fuel power generators that can respond quickly but at the same time pollute a lot and raise the price of energy for the end client. This means that lessening demand is not only good for the wallet but also good for the environment.
From the government’s point of view, it is much easier to reduce consumption than to develop new power generation capabilities, which take a lot of time and very big investments. To incentivize electricity consumers to lower their consumption at these critical times, the government will pay everyone who uses their energy flexibly up to 5000€ per MWh.
Smart software helps you get money from the energy market
Basically, any business or household can make money from the energy market. All you need for that are automated machines that can be used flexibly. Some examples of these are electrical heating and cooling, EV chargers, different pumps, and battery and HVAC (heating, ventilation, and air conditioning) systems. They can be either switched off or their consumption reduced for short periods without impacting the work quality.
Usually almost any company, apartment association, or home has some form of flexibility. The bigger problem is making these machines smart enough to be able to respond to signals from the energy grid. This is where Fusebox comes in – our software offers an easy and cost-effective way to make any flexible asset make money for you. In cases where the automation system needs to be upgraded to be able to connect to our software, we can guarantee a 2-year return on investment.
Fusebox makes batteries profitable
A rising trend in the world is the use of batteries which are a good way to balance the use of renewable energy sources such as wind and sun. They help you save the produced energy for later when the prices and demand are higher so you can either use the energy yourself or sell it to the grid. Considering that an average commercial battery’s lifetime is about 10 years, it used to be very hard to make owning one profitable.
Today Fusebox has proven through different case studies that this has changed. Our machine learning software not only helps to avoid peak energy prices while charging but it takes advantage of all available energy market services to lower the return on investment to only 3-7 years. Considering the rising energy prices and bigger investments into renewable energy sources, then battery systems can generate a considerable amount of passive income for its owner during their lifetime.
Whether you own a company, are part of an apartment association, or have a home, the rising energy prices will affect you more and more. Now is a good time to start considering your options of how to prepare yourself for the coming winter. Luckily as the energy market and different technologies are advancing, you have more and more solutions to reach these goals. If you want to know more then get in contact with our sales team, who can help you on this journey. Give us a call +372 534 40574 or write us an email