Buildings consume 30-40% of the world’s energy, so helping them use power more wisely is crucial to decarbonization. However, the potential here goes much further than just more efficient lighting, heating, and cooling. The combination of three key technologies—local renewable generation, energy storage, and electric vehicle (EV) charging—has created an enormous opportunity for building owners. Commercial and residential properties can now be transformed into full-blown energy hubs, helping to balance supply and demand across the grid.
With distributed and intermittent renewable generation making up more and more of our energy mix, grid volatility is increasing. At the same time, sector coupling and the rise of EVs is also causing more frequent spikes in demand, as highlighted by the Bloomberg New Energy Finance report Beyond the Tipping Point.
Motivated by a strong business case, building owners will play a key role in meeting this challenge. By uniting renewable generation, energy storage, and EV charging, building owners can enable a more stable and resilient grid, all while supporting the decarbonization of transport, reducing their costs, and unleashing new revenues.