The benefits of electrification are numerous.
- No expensive retrofits – We eliminate the challenge of converting individual buildings. This solution is faster, more cost-competitive, and less capital intensive than building retrofits under mandates.
- Existing infrastructure – We will use our network of underground pipes to deliver clean, carbon-free steam to customers. Further, many of our facilities have existing electric substations and transmission lines, so no additional investment is needed to access renewable electrons.
- Cleaner air – We eliminate new gas “stacks” and fossil-burning infrastructure in individual buildings. Communities benefit from cleaner energy sources, which improve city air quality and remove particulates and other pollutants from our neighborhoods.
- More affordable – Because Vicinity has access to wholesale renewable power, we can procure electricity at much lower rates than the average consumer. Further, Vicinity intends to purchase a lot of its power overnight when prices are lower and store it when our customers need it.
- Reliability – Our ability to fuel switch allows us to be more reliable than other onsite alternatives. Vicinity’s system has built-in redundancies and will continue to access backup fuels as needed in emergencies.