Head of energy at Foot Anstey, Chris Pritchett, claims renewables industry could make up to £4billion in savings each year if inefficiencies are eradicated.
The losses mentioned by Pritchett are caused by inefficient working practices not being identified through different players – energy asset owners, manufacturers and system operators – not sharing information with one another.
These figures have been identified through modelling work carried out by Foot Anstey’s law experts in conjunction with energy system developer QBots.
Findings have been released in the latest Foot Anstey report: Data in Energy Storage: Mine, Mine, Mine.
Chris Pritchett said: “The problem is often not stockpiling of data, it’s the reverse – people don’t know what a goldmine they’re sitting on.
“No one necessarily has a ‘right’ to energy data, although some market players are becoming more alive to the potential in owning it.
“These organisations are starting to take steps to ensure it will be placed in their hands.
“But we’re not advocating that everyone suddenly starts to share everything they have, with no heed to the commercial impact. Instead, we see clusters of strategic partnerships developing and exciting localised projects such as smart cities and microgrids.”
“The projections are utopian, but I don’t make any apology for that, as it’s important to demonstrate that some of these savings can become real if managed in a sensible and commercial way.”