With wholesale energy prices in Australia predicted to rise by as much as 200% over the next three years, the need to manage energy costs in business is becoming urgent.
Energy accounts for one of the most significant areas of cost for the majority of industrial businesses – especially those with temperature-intensive processes.
Greens climate change and energy spokesperson, Adam Bandt MP says there are untapped opportunities for businesses to switch to in order to save energy costs.
“With all our sun and wind, Australia should be the place industry comes to for cheap, clean energy.”
“The government’s failure to plan for more renewables has doubled the wholesale price of electricity and businesses and households are suffering.
“There are untapped opportunities for businesses to switch from expensive gas and electricity over to cheaper renewables.
In its White Paper Industrial Energy Strategic Opportunity, design, build and facilities management specialists Wiley predict the future for industrial energy and explain what businesses need to do to gear up for the opportunities ahead.
In the White Paper, Brett Wiskar, R&D and Innovation Director at Wiley, outlines effective solutions for businesses to harness new technologies and build long-term resilience in energy efficiency, supply and cost and ultimately remain competitive.
The solutions include increasing efficiency and reducing consumption, introducing solar production either in isolation or in conjunction with battery storage.
“To reduce consumption and increase efficiency, businesses need to optimise the use of their existing equipment, install effective metering equipment and ensure effective shutdown procedures are in place.” Mr Wiskar says.
“Operating temperatures and the pressure of equipment and processes should also be optimised and heat gain into fridges and boilers should be minimised as much as possible. Maintaining equipment is also important.”
According to Mr. Wiskar, installing solar panels and storing the energy for later use can be one of the most effective means in reducing energy bills.
“Australia has ample access to solar with falling install costs starting to drive up larger scale industrial adoption. In addition to generating your own energy with solar panels, energy captured at peak times can also be stored for later use.”
“There’s now a number of technological solutions on the market for effectively storing energy and we continue to monitor and work with the leading developers in the world to ensure the best technology is available to the Australian manufacturing industry,” Mr. Wiskar says.