For today’s businesses, sourcing energy is more challenging than ever. From fluctuating costs to mounting pressure from consumers and political stakeholders to adopt more sustainable practices, businesses face a multitude of hurdles in securing reliable and affordable energy. As the world grapples with the urgency of climate change, the need for businesses to decarbonise further complicates the equation. Amidst these challenges, Balance Power is providing businesses with tailored solutions that address their evolving energy needs while lowering operational costs.
The escalation of energy costs poses a significant threat to businesses worldwide. In the UK, businesses on average spend 230% more on energy than before the Ukraine war, and with nearly 81% anticipating further price hikes within the next two years, the urgency to find cheaper and cleaner alternatives is growing.
Whilst the impact of the energy crisis on prices around the world is widely recognised, a lesser-known fact is that two-thirds of businesses’ electricity costs in the UK stem from using energy supplied by the grid network. However, this isn’t the only option businesses have when thinking about how to meet their power needs.
‘Behind the meter’ generation, where a renewable energy project is built near a business and directly powers its operations without relying on connecting to the grid network, is a cheap and secure alternative. Not only is it more cost-effective, but renewables also align with companies’ net-zero targets and CSR goals, while contributing to a sustainable future for generations to come.
This is one of the ways that Balance Power is revolutionising the UK’s energy system.Led by our CEO Phil Thompson, we help businesses switch to renewable energy by providing solar, wind and battery storage projects near to where they are located, tailoring each solution to their individual needs. Our bespoke energy generation and storage solutions bypass the grid, allowing businesses to lower operational costs and reduce their carbon footprint.
Our tailored energy solutions have been helping the UK transition to a decarbonised grid since Balance Power was founded in 2017, supporting the country as it moves to a cleaner, more flexible energy system.
Why ‘behind-the-meter’ generation?
There are three main reasons why businesses can benefit from switching to a ‘behind-the-meter’ solution that directly powers their operations. Firstly, they provide cost savings. We connect businesses directly to an energy source, bypassing the grid and thereby reducing the unnecessarily high cost they pay for their energy being delivered. Renewable energy is also a cheaper alternative than the fossil fuel counterparts that still supply much of the grid’s power.
Secondly, switching to this form of direct generation helps to reinforce companies’ sustainability efforts, as using green energy and reducing reliance on the grid reduces their carbon footprint. Last, but certainly not least, it enhances businesses’ energy security – the energy they currently use from the grid will still be there, but our projects provide additional generation, reinforcing supplies.
Why Balance Power?
With an expert team, we can develop bespoke energy generation, setting businesses up for a greener and more profitable future.
With a portfolio of 32 successful projects in the pipeline and counting, and with a staggering 94% success rate, we are committed to every project and delivering results for businesses. Our track record in development means businesses can be confident that the projects that we propose will deliver the results they need. We also commit to bearing all development costs, taking the financial risk off businesses’ shoulders – they just agree to buy the energy they use.
We stand as a growing leader in the field, working closely with key stakeholders, including landowners, businesses and farmers, to provide a solution that fits all. Our expertise, coupled with a willingness to take on the full financial risk, makes us a trusted partner for businesses seeking reliable energy solutions. Moreover, Balance Power’s dedication to continuous improvement and collaboration underscores our ethos of delivering net-zero compatible solutions.
The future of Balance Power
In the UK and around the world, 2024 is set to be a year of change and political upheaval. At Balance Power, we’re poised for the challenge and committed to continuing building the momentum behind the net-zero transition. We plan to add an additional 500MW in construction and development each year, driving a renewable revolution.
Alongside our business solutions, we’re also building exciting large-scale renewable energy projects that can connect to the UK electricity networks. For example, our 40MW battery storage project in Cheadle, Cheshire, will store renewable energy at times of peak generation and export it back on to the grid when demand is high, balancing intermittency and providing grid stability for around 90,000 homes. This will be crucial as the UK transitions towards net-zero and renewable power plays an increasing role in the country’s energy mix.
The project has also been designed to produce a biodiversity net gain of 61% for habitats and 15% for hedgerows, bringing wider environmental benefits and safeguarding existing wildlife. This forms part of Balance Power’s commitment to finding clean energy solutions to meet communities’ power needs whilst creating positive environmental impacts. The storage facility is due to be operational in 2028, with construction planned to begin as early as 2026. After its 40-year lifecycle the project will be decommissioned, and the site will be returned to its former use and condition.
At the core, we pride ourselves on our ability to evolve with the shifting energy landscape and provide the country with the innovative solutions it needs to decarbonise the energy system, whether that be for individual businesses or for the country’s electricity network. Balance Power’s success lies in continuous improvement and a collaborative team that is dedicated to finding solutions where others see obstacles.
Above all, we are driven by a commitment to delivering exceptional energy solutions and services to our stakeholders, ensuring a sustainable and brighter future for our next generation.
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