Beyond innovation: Discovering the real value of renewable energy.

Transcription

1 Beyond innovation: Discovering the real value of renewable energy.

2 Beyond innovation: Discovering the real value of renewable energy. Innovation can be dazzling. The next new thing often brings with it a shine and promise that glitters, inspires and generates an ever-elusive marketing quality called buzz. In the case of renewable energy and, specifically, solutions like solar arrays and wind turbines, the innovation spotlight has shone brightly in recent years. Less visible, at least from the outside, is the story that has emerged as renewable solutions have taken hold one with a decidedly more practical message. Put simply, renewable energy has successfully moved past its introductory stage, going beyond a good for society approach to become a good for business solution. This is making it something that can not only dazzle, but also endure. NRG Renewable Energy White Paper 2

3 From inspiring to growing renewable energy takes hold. Attention and promise is one thing true growth and value is another. Today, renewable energy has clearly landed on the second half of this equation. Once the domain of well-meaning early adopters, renewable approaches now involve a broader array of practices, products and technologies put in place by an ever-expanding roster of ROI-driven companies. Delivering on this promise, NRG s list of designed-and-delivered projects spans a diverse range of customers from hospitality to agriculture ranging from hundred megawatt utility-scale renewables to off-grid power solutions employing small wind turbines and batteries. In the hospitality industry, the NRG team has recently equipped two of the world s leading hotel chains, Starwood Hotel & Resorts and MGM Resorts International, with iconic solar solutions. At Starwood s Phoenician resort in Scottsdale, a 568-kW solar installation will generate clean, reliable power and is the first of three projects planned worldwide with more, potentially, to follow. Each will help Starwood attain its publically-stated corporate sustainability goals. Elsewhere, MGM and NRG completed the installation of a rooftop solar photovoltaic array at the Mandalay Bay Resort Convention Center in Las Vegas, taking full advantage of the resort s sunny, desert locale. Other industries, too, have come onboard with the value-driven renewable energy story. In the healthcare sector, solutions from NRG are being installed at hospitals across the country. The most recent example? Kaiser Permanente, where a distributed on-site solar program will involve upwards of 150 different sites (office buildings, hospitals, clinics) in California, eventually consisting of approximately 70 MW of total capacity via installations integrated into existing structures, including carports and rooftops. Here again, the solution delivers a two-fold benefit helping Kaiser meet its commitment to greenhouse gas reduction goals while also offsetting its use of grid power. The combined installations are expected to offset 6 percent to 8 percent of Kaiser Permanente s load throughout the state, along with a corresponding decrease in the company s energy costs. Besides serving as a symbol of sustainability and environmental stewardship, the project will provide energy to the facility during peak demand and will help deliver price stability and lower overall costs. At peak production, the rooftop installation is expected to produce nearly 20% of the resort s power demand. That s 20% that MGM doesn t have to purchase from the grid. Starwood s Phoenician resort. Scottsdale AZ. 3 NRG Renewable Energy White Paper

4 Attaining a renewable energy tipping point. As renewable energy projects have grown in both size and scope, so have the reasons companies have embraced them. Initial proponents, of course, did so because of their environmental mission, because it was the right thing to do. Next, that idea broadened as more companies came on board, realizing that pointing to the renewable projects they installed was also good for their reputations. Now, as renewable energy fully takes hold, companies can add an important final reason for embracing it doing so is good for business. The real-world value of renewable energy is perhaps the most compelling. A bottom-line mentality never goes out of style. As energy costs get scrutinized along with every budget item, they provide an ever-present motivator for companies to look at proven renewable approaches to reduce costs, gain control and increase profits. Extending renewable energy s efficiency story. As renewable energy solutions take hold, a natural offshoot is that it becomes both easier for new companies to visualize how a solution can work and more efficient to implement them. In other words, the process to identify, visualize and embrace renewable energy is now quicker and more self-evident that ever. Another factor is the range of solar technologies and approaches now being put in place. For a technology agnostic provider like NRG, this provides the ability to deliver a solution that is both tailored and proven along with quicker to execute and more affordable. Financing options add to the implementation equation. On some projects, NRG has incorporated Power Purchase Agreements (PPA) that allows a solar installation to be completed with little upfront capital from the company itself. Also, once a renewable project is installed, measuring its positive effect and ROI impact is also becoming more seamless, thanks to equally innovative metrics. It s an age-old truth of business what gets measured gets done and one that applies just as naturally to an emerging field like renewable energy. FedExField. Landover, MD. NRG Renewable Energy White Paper 4

5 Embracing renewable energy as a business solution. Perhaps the greatest testament to the power of renewable energy is the fact that its rise in importance and practice has taken place during what has, in general, been a challenging economic time period. Rather than stagnating as one might expect as companies double-down on proven approaches and shy away from new ones, many companies have ramped up their renewable energy efforts. This adds credence to its bottom-line value. Looking ahead, expect an extended exponential growth phase for renewable energy approaches, with many companies across North America integrating solutions that are both innovative and results-oriented. Mandalay Bay Resort Convetion Center. Las Vegas, NV. 5 NRG Renewable Energy White Paper

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