With Power Prices Spiralling, How Can A Battery Storage System Help?

There’s never been a better time to construct a battery storage system at your Commercial or Industrial (C&I) enterprise. Why? Because 2022 is the year of massive uncertainty. First and foremost, our thoughts during these turbulent times go to the brave people of Ukraine. Forced to defend their homeland, their rights, and their liberties, we wish all Ukrainians a safe passage and hope the aggression being inflicted on their country will end soon.

The situation in Ukraine and other geopolitical events are causing widespread supply chain issues. Dominating international trade right now, the lack of readily available goods is quite simply making them more expensive. Additionally, these same events are driving power and electricity prices to stratospheric levels.

HOW ARE GEOPOLITICAL EVENTS IMPACTING CANADIAN BUSINESS?

The current global situation is creating the worst possible outcome for businesses not only in Canada but worldwide. Quite simply, this outcome is uncertainty.

Right now, businesses cannot predict their costs to manufacture products. Secondly, it’s becoming increasingly difficult and challenging for businesses to predict market demand. Suddenly, businesses do not know how much they will charge their customers for the products they have been selling them for years.

As a direct consequence, this is leading to widespread frustration for manufacturers and suppliers of goods. In other words, their raw material prices are fluctuating and trending higher. Not only that but power prices to keep factories operating are experiencing the same thing.

In short, rising prices are not good for both manufacturers and consumers. The harsh reality is that some consumers will simply stop buying certain products at inflated prices. This not only hurts companies but the overall Canadian economy too.

HOW CAN A BATTERY STORAGE SYSTEM CIRCUMVENT RISING POWER PRICES?

A battery storage system, otherwise known as an energy storage system, is of even greater value during times like these.

By constructing a battery storage system at your Commercial or Industrial (C&I) enterprise, you can purchase electricity when the prices are lower. Furthermore, you can store this power and use this stored power later in the day, thereby avoiding the current expensive energy prices.

In Ontario, Demand Power guarantees a rate of power for the entire length of our energy supply agreements. During uncertain times like these, businesses can at least get certainty over their cost of power and electricity.

Moreover, getting a battery storage system installed is the right thing to do too. A greener energy solution in the age of the 21st century grid, a battery storage system is good for the environment.

As a society, we expect electricity to be there instantaneously whenever we want it. Now is the time to get smarter about energy storage solutions and that includes getting them installed at your facility. Let’s all use energy storage to provide instant power during the day. Then at night when we’re sleeping, let’s recharge the battery storage system. Not only levelling out demand, this allows your business to avoid high carbon power historically used during peaks.

DEMAND POWER CAN HELP YOU GET A HANDLE ON ESCALATING ELECTRICITY PRICES

As we’ve already mentioned, the current geopolitical events are causing sharp short-term increases in power prices. Nevertheless, the situation is also exposing a longer-term reality. This is the need to end our reliance on fossil fuels.

Longer-term power prices are forecasted to increase substantially as we transition away from a need for raw materials from another country to meet demand here in Canada. Installing a battery storage system and partnering with a company like Demand Power can allow you to lock in a much more affordable power price today.

Get ahead of your stakeholders and contact Demand Power Group Inc. (“DPGI”) now at 1-855-336-2638.

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