Seiko Epson Corporation, a global technology leader in innovative home and office, commercial and industrial, manufacturing, visual and lifestyle solutions, is hoping to inspire companies to transition to 100% renewable energy by sharing insights it has learned from its own journey.
Manufacturing and other industrial users account for around a third of the world’s energy consumption, according to the International Energy Agency¹, with electricity being a central element of that. Epson completed the transition to renewable electricity in Japan in 2021, and globally in Epson-owned sites by the end of 2023, setting out a path to renewable manufacturing for others to follow.
Neil Colquhoun, President of Epson META-CW Asia, said: “If all the power consumed by factories and industrial plants came from renewable sources, it would make a sizeable contribution to tackling climate change. It is a tough target, but one that companies are increasingly signing up to. Companies can start by using locally produced energy wherever possible. By using their region’s abundant renewable resources, they will be realizing many benefits such as improving energy self-sufficiency and creating jobs.”
GCC countries are investing heavily in sustainable development, which will spur their economic growth, and frameworks are in place to encourage companies to focus on carbon footprint reduction. According to an article published on the World Bank Blogs this year, countries in this region are chasing ambitious targets for achieving electricity generation from renewable resources. Among these, Saudi Arabia aims to have 50% of its energy mix from renewable energy by 2030, while Oman targets 30% of electricity
from renewables by 2030. The UAE, home to three of the world’s largest and lowest-cost solar plants, has announced a Hydrogen Leadership Roadmap.
FOUR SUGGESTED COMPANY STRATEGIES
According to Epson, there are several practical methods companies should consider when transitioning to renewable energy:
1. Sourcing renewable electricity: From local suppliers via contracts with electricity suppliers – the ability to do this will depend on the rules in a particular country but, if it is possible, a company can be confident its electricity is only coming from renewable sources.
2. Generating electricity on-site: Via rooftop solar panels or, if space allows, wind turbines. Even if they do not generate all the power needed, they can still make a useful contribution.
3. Develop battery storage facilities: A common concern about renewable electricity is the risk of supply being interrupted when the wind isn’t blowing or the sun isn’t shining, but storage technology offers a viable way to address that.
4. Decide on solar power generation: When it comes to solar power generation systems, Epson’s sites also decide whether to adopt self-investment or power purchase agreement (PPA) based on the individual circumstances of each country or region. The solution will vary from company to company. But most manufacturers are likely to find a combination of these elements will go a long way to reaching their renewable electricity goals.
