Research by Centrica has found that distributed energy solutions, such as battery storage and energy saving devices, can provide savings on energy bills and a boost to the country’s overall economic growth. Centrica estimates that local authorities in Wales could save 15 per cent on their energy bills. In Caerphilly, this equates to £6.5m. And in Merthyr Tydfil, this equates to £2m. Across the 22 local authorities in Wales, this totals more than £150m.
Local authorities in Wales are looking to make cost savings particularly as council tax rates are being announced. Centrica estimates that local authorities could save at least 15 per cent on their energy bills by deploying distributed energy solutions including battery storage, onsite power generation and energy saving devices.
An example of this is the 3MW battery storage scheme Centrica recently installed for Gateshead Council. It forms part of a district energy centre and, once commissioned, will be used to provide flexibility services for the council, and eventually to meet peaks in local demand.
Gerald Jones MP, after attending an event at Westminster to learn about distributed energy solutions, said: “Energy costs can make up a large proportion of operating costs so making savings here can open up opportunities for Merthyr Tydfil and Caerphilly local authorities. Technology can help to bring energy bills down freeing up budget to be spent on essential services.”
Centrica and a team of independent economists assessed the opportunities distributed energy solutions can bring in industrial, healthcare, and hospitality, hotel & leisure sectors if 50 per cent of businesses deployed the solutions.
The results of this were announced in a report, ‘Powering Britain’s Economic Future’. It calls for BEIS, public sector organisations and the Committee on Climate Change to undertake urgent assessments of how new solutions could reduce energy costs and carbon emissions for British businesses.
Key findings from the report include the opportunity for the potential benefits to gross value added (GVA) across industries in the UK to hit almost £14bn.
To read a copy of the report in full or to learn more about Centrica's work, go to www.centrica.com/economicfuture.