Amidst the increasing demand for sustainable energy, many consumers are seeking ways to self-generate energy to mitigate increasing retail energy costs.
Distributed energy resources such as solar panels, windmills, and home batteries are growing in popularity but do require significant investment and maintenance. If you identify a trend amongst your customers toward adopting self-generation energy resources, this may signify a mutually beneficial opportunity.
You can, for example, offer leasing solutions for solar panels, including installation and maintenance as options. These can either be billed as one-off costs or as a monthly service charge. A wide range of possibilities exist to utilize data to provide a hybrid charging solution whereby consumer costs are offset by the user selling a portion of their self-generated electricity back to the utility. Once again, you can leverage AI to model the broader impact on your customers’ billing and rates, adjusting your buy-back rates accordingly. By allowing your customers to configure the products that best suit their unique situation, perhaps with an online tool on your portal, you can provide them with visibility to their costs and benefits, putting them in control of their energy journey.
There are other opportunities for non-commodity innovations that align with customers’ lifestyles and enable you to position your brand as a key component of it, such as EV chargers and car-sharing schemes. These can help you evolve from being merely an energy retailer to a truly renewable service partner.