Vertical PowerEthical Energy & Climate News & Features
Green energy tech supplier Octopus Energy for Business has launched Vertical Power – two unique tariffs to power the future of farming.
The tariffs pave the way for agritech businesses and control-environment farms of any scale to bring down energy costs and reduce their environmental impact.
Why we need vertical farms
By 2050 there will be 10 billion mouths to feed – demand that current farming alone can’t meet. Vertical farms can increase output by up to 100 times.
Vertical farms reduce food mileage and improve health, but to date the cost of energy has limited growth.
Octopus Energy’s Vertical Power tariff is a bespoke energy offering for vertical farming operations, reducing costs by up to 12%.
The Vertical Power Agile tariff allows indoor farms to tap into energy pricing at half-hour intervals, making it perfect for avoiding peak demand times. If integrated with automated energy systems, both Vertical Power options allow for truly smart management of operations to reduce costs.
‘The global farming industry needs to innovate to support a growing population and a planet under threat. Octopus Energy for Business is determined to ensure that vertical farms are supported in the UK.
‘The fact that energy costs account for up to 40% of vertical farms’ overheads presented a problem – and we developed the Vertical Power tariff specifically to make the sector more efficient.
‘Here’s to supporting budding vertical farmers and laying the foundation for a greener future in the UK.’
Director of Octopus Energy for Business
The Vertical Power tariffs
Vertical Power TRI is a tri-band tariff that avoids peak pricing between 16:00 and 19:00. It delivers the most efficient savings when compared against adoption of technologies and changes to farming operations. It provides up to 8% saving annually versus the cheapest Economy 7 tariff.
When combined with automation, the Vertical Power Agile tariff allows a vertical farm to scale up or reduce energy usage depending on the cost of energy at half-hour granularity. Savings are dependent on site flexibility and crop type, but models show this could unlock savings of up to 12%.
The tariffs can be used in commercial-scale vertical farms, greenhouses or smaller urban farming projects.
Some of the most popular everyday crops to grow in vertical farms include lettuce, kale, chard, mint and chives.
Octopus and renewables
Octopus Energy is one of the fastest-growing energy suppliers across Great Britain, with 10,000 customers joining every week. It now supplies over 680,000 homes, 5,000 businesses and is the supplier behind household name M&S Energy. It’s the only energy supplier recommended by consumer champions Which? for the second year in a row.
Passionate about the transition to a renewable energy future, it launched Octopus Electric Vehicles, the electric car leasing specialists, in 2017.