With most commodities, value is determined by two key factors: price and quantity. But when it comes to energy, a third component—time—plays a big role. When you use energy is just as important as the price you pay for it and how much you use. Ultimately, a facility’s ability to be flexible about when they use energy represents both a value and a cost. Utility and grid-sponsored demand response (DR) programs allow you to monetize that flexibility.
Demand response, which provides financial payments to facilities who agree to reduce energy in response to grid signals, is gaining traction as a go-to energy management best practice for facilities across the globe—and if you look at the benefits, it’s easy to see why. Through DR, facilities can earn substantial payments for being on call to reduce nonessential energy use when the electric grid needs support—a win-win for both facilities looking to boost their bottom-line, and the communities they serve.
In this eBook, learn more about what demand response is, how it works, what benefits it delivers, and how it fits into a software-driven energy management strategy.