Our Talk with GM's Chief Sustainability Officer + Energy Transition Winners + Platform Updates
Every month we share VECKTA updates and our insights on trends and technologies related to the corporate energy transition.
In this issue, we cover:
TRANSITION NEWS
Energy Transition Progress = Competitive Advantage
Commercial and industrial adoption of onsite energy technologies has historically been slow - despite this sector being the most exposed to rising utility costs, increased outages, and pressure to decarbonize. There are a myriad of reasons why - a fractured supply market, changing policies, and internal dynamics - are the most common. Note that from 2013 to 2023 the cost of solar (LCOE) fell by 76% and battery storage by 79% - ensuring systems pencil in a growing number of scenarios.
For companies overcoming deployment challenges and installing onsite energy to combat reliance on utility energy supply - the benefits extend far beyond cost savings. For a very specific example, during outages in Southern Texas due to Hurrican Beryl, H-E-B and Walmart relied on microgrids and gas-powered generators to keep stores running when other retailers remained closed. H-E-B has already installed onsite energy systems on 85 stores.
While combatting outages is an obvious example of having a competitive advantage, there's less direct but still impactful pull-through. Let's look at Target for example. Like Walmart they've made huge progress in installing onsite energy - specifically rooftop solar. They have 583 stores (based on 2022 numbers from SEIA) with solar, which is 140 more than their closest competitor. Those installations are pumping out millions of dollars in cost savings - savings that they can re-invest in activities that improve competitive advantage, such as store expansion, product development, workforce training, the list goes on and on.
We're a broken record on this topic - check out our blog, podcast or guide - Winners and Losers of the Energy Transition - to learn more.
ON THE RENEWABLE RIDES PODCAST
GM’s Winning Sustainability Strategy – Our Conversation with Chief Sustainability Officer Kristen Siemen
What is it like to lead sustainability for a company with operations in 31 countries, 151,000 employees, customers on 6 continents, and a 2040 carbon neutrality goal?
On a recent episode for Renewable Rides, GM's CSO, Kristen Siemen, gives us insight into on how she and her team have been successful in setting big goals and making progress.
Here's a sneak peek on where the conversation goes:
- The key to successfully engaging suppliers
- A "better not perfect" method for making progress
- How her background has an engineer has helped her succeed
- The power of collaboration
Listen to the episode here.
VECKTA NEWS
VECKTA Platform Proves its Ability to Estimate Market Bids With 90% and Greater Accuracy
After assessing over 40,000 sites and ingesting real-time market and project pricing from its Marketplace, the VECKTA software and AI platform has proven its capacity to automatically configure optimal onsite energy systems, energy, cost, and emission savings, using only the site address and facility type as inputs.
By accurately estimating price, system size, financials, and emissions reductions automatically, commercial and industrial companies can make data-driven decisions about where to focus investment. They can then secure firm prices from installers with the confidence they will be within the range projected by VECKTA.
FROM THE BLOG
Navigating the Solar RFP Maze: A Guide for Energy Leaders
In the ever-evolving landscape of commercial solar, running an effective Request for Proposal (RFP) process can feel like navigating a labyrinth. But fear not, this guide will illuminate the path to securing the right solar installer for your project, avoiding common pitfalls, and maximizing your return on investment.
We outline how to:
Read the post here.