Four Essentials for Developers to Identify Top-Tier Storage Opportunities
by Nathan Gutzmann on Jul 06, 2023
commercial energy storage
You know you have a winning commercial-scale energy storage opportunity when the right customer, site conditions, and developer converge. However, getting to the point where the customer saves money, you generate profits, and the project operates seamlessly is challenging. Energy Toolbase simplifies your pipeline analysis to help quickly identify ideal opportunities in a rapidly evolving commercial & industrial (C&I) battery market. There are several factors that contribute to identifying these quality battery prospects, and we will explore those in this blog.
1. The Opportunity Pencils Out:
The economic viability of an energy storage project is the most critical factor for success. The interaction of each customer’s rate schedule with their energy use profile provides opportunities for batteries to achieve cost savings. However, since this is unique from customer to customer, evaluating this can be a complex exercise. To maximize the potential revenues, other value streams such asparticipation in demand response (DR) programs, incentives, and even microgrid or backup applications (if they have quantifiable value) must also be modeled. An upcoming blog will demonstrate how ETB Developer makes this intricate (and fascinating!) evaluation very simple.
2. Your Customer Had a Will and a Wallet:
To identify a strong C&I energy storage opportunity, evaluating the financial position of the customer's business is crucial. The Investment Tax Credit (ITC) is an essential financial incentive for ESS opportunities. Customers can only take advantage of this incentive if they operate a profitable business. Additionally, it is important to ensure that the customer has allocated sufficient funds for the project. Estimates of costs that the customer will need to budget appropriately for, such as installation, equipment purchases, operating costs, and the project’s incentives, can be presented to your customer using an ETB proposal.
3. From Connection to Conversion:
You’re an expert in designing, developing, and constructing energy projects, but you know you can’t neglect the sales fundamentals. Establishing a strong relationship with the customer where you understand their motivations for investing in energy storage is crucial. Following that, it is essential to have direct access to the customer's key decision-maker to facilitate effective communication and expedite the decision-making process. Finally, your ability to communicate the complexities of battery projects in simple terms is essential to closing the deal. Energy Toolbase’sHelp Center has excellent content to get you started, and our team of Account Managers can also help demystify the complexities of energy storage.
4. The Goldilocks Zone (Size Matters):
The project needs to be right-sized to align with your company’s capabilities and resources. Consideration should be given to your experience in similar projects, as familiarity and success in a particular project size or scope increase the likelihood of flawless execution. Additionally, it is important to assess whether the site supports the electrical interconnection and physical installation of the proposed energy storage equipment. Reaching out to your AHJ is a great way to confirm some of these details and ensure the opportunity is viable.
Get the Right Team in Your Corner
Partnering with our experts at Energy Toolbase can help you sell, deploy, commission, and operate energy storage projects. Our Model-Control-Monitor product ecosystem and white-glove service facilitate a fantastic customer experience for both you and your end customer. The ETB Developersales and economic modeling platform provides flexible proposals to ensure that you are clearly communicating with your customer’s key decision-makers and presenting the project effectively. Collaborating with ourEnterprise Services team ensures quick and painless evaluation of project economics. Set up a call with us today to talk more or sign up for afree, 14-day trial of the ETB Developer platform to start finding top-tier energy storage opportunities.