In the last few years energy resiliency has become an increasingly important topic among industrial corporations and federal agencies. The utilization of a solar photovoltaic (PV) system to generate clean energy will undoubtedly lower the operations costs of a facility and provide energy savings for several decades. However, the solar PV system alone will not provide resiliency from grid blackouts.
You may be asking yourself, “How do I make my facility resilient and will it provide my facility with additional energy savings?” You can make your facility resilient simply by incorporating an energy storage system along with other renewable energy technologies. However, the storage capacity should be taken into careful consideration. Depending on the resiliency goals you set for your facility, the cost of your overall energy project has the potential to exceed the cost savings. For example, an energy storage system used just for peak shaving or to arbitrage energy rates would provide energy cost savings. But, if you wanted enough storage capacity to support renewable and backup generation to power a facility during an outage you will no longer be reducing energy costs, you are adding cost to your project in the sake of providing operational savings and security against cyber-attacks.
This leads us to state that resiliency costs more because it provides value. The reliance on a singular power source to sustain the operations of a multi-billion-dollar manufacturing business and critical government managed facilities has proven in many cases to increase the level of vulnerability to security and loss of revenue from inoperable electricity reliant technology.
You are probably wondering how to determine the value of resiliency (VOR) for your facility and operations? By using the equation below you can find this value.
When something like revenue, inventory, personnel etc. can be represented in hard dollars on a financial statement you can easily calculate the VOR to determine the marginal cost of not preventing that next electrical failure, outage or interruption. Take Amazon for example, in 2013 Amazon’s online store went down for 49 minutes costing the multinational e-commerce company $5 million in lost sales.
For questions regarding the value of resiliency to your facility or to learn more about incorporating an energy storage or solar PV system, please contact us at email@example.com.