The name Ferrari has long been synonymous with performance. The legendary racing prowess of Ferrari cars has long been telegraphed by the distinctive notes of their hand-assembled internal-combustion engines.
But as the world shifts to electric, Ferrari is keeping pace. The Italian luxury automaker expects to introduce its first EV in 2025 and plans to be entirely carbon neutral by 2030.
Ferrari is hardly alone in embracing a more sustainable future; organizations around the world are looking for ways to reduce their carbon emissions. Customers and investors are increasingly scrutinizing companies’ environmental, social, and governance (ESG) policies and impacts, and governments are setting ambitious regulations for carbon-reduction targets.
Decarbonization has become an essential business strategy for reducing costs through investments that will ultimately pay for themselves. More efficient energy consumption can shield companies from the unpredictable costs of nonrenewable energy sources. And organizations that produce and store their own energy are more resilient and less reliant on traditional power grids, which can be susceptible to disruptions, giving them greater potential to be stable, competitive, and profitable.
Complex Sustainability, Singular Solutions
But organizations promoting decarbonization face considerable challenges—not just environmental but economical. With a vast array of providers each supplying offerings to address specific sustainability solutions, an electrification project can become unexpectedly complex.
As an organization’s projects become more complex, it increasingly puts its timelines and budgets at risk. Partnering with a patchwork of companies that each offer narrow expertise can be a prohibitively expensive and time-consuming strategy to achieve carbon neutrality.
The more efficient and economical approach to decarbonization calls for working with a single partner that offers the full energy-sector expertise—including the financial strategies and solutions to implement ESG policies that make a difference.
Cutting Emissions, Cutting Costs
Ferrari’s ambitious approach to carbon neutrality focuses not only on reducing emissions, but also on producing some of its own electricity. For its most recent project, the company is installing 3,800 solar panels on the roof of its factory in Maranello, Italy, which will have a peak power of 1,535 kWp.
The automaker is also creating an off-the-grid carport with a photovoltaic system on its canopy that will feed a battery-storage system, connected to a real-time monitoring system, that can charge its current hybrid and forthcoming fully electric vehicles. The photovoltaic system will help Ferrari reduce its CO2 emissions by more than 18,500 metric tons over 25 years.
Pursuing decarbonization projects on multiple fronts might be economically unfeasible for any company working with multiple vendors. Tapping a single collaborator that offers a full range of expertise has helped Ferrari streamline its processes and reduce its costs.
Leonardo, a Rome-based leader in the aerospace, defense, and security sector, is working with one ESG partner as it sets aggressive goals for its energy efficiency and decarbonization.
The company plans to increase the share of its energy it gets from renewable sources, reduce its CO2 emissions, and diversify its sources of energy. To do so, Leonardo is installing an array of photovoltaic systems on its own underused industrial sites, which will provide 10% of these facilities’ electricity needs, for a total capacity of about 6.6 MWp. These systems will also reduce Leonardo’s CO2 emissions by an estimated 2,800 tons per year.
Like Ferrari, Leonardo chose one partner to collaborate on every step of the project, from the initial consultation through planning and installation.
Eaton, a power-management company based in Ireland, approaches sustainability from a unique position of expertise. The company helps its customers manage electrical, hydraulic, and mechanical power and has produced solar panels for European Space Agency (ESA) space missions.
The company is closely aligned with the European Union’s 2030 climate and energy framework, which calls for a 40% reduction in greenhouse gas emissions by 2030 from 1990 levels.
To achieve these goals, Eaton recently teamed with its decarbonization partner to oversee all logistical and financial aspects of building photovoltaic systems at two factories in Romania. The Romania project follows its partnership with the same collaborator to install a solar-plus-storage microgrid project at its manufacturing facility in Puerto Rico.
This project will produce about 885 MWh per year and cut Eaton’s carbon emissions by 200 tons per year.
A Full-Range, Budget-Conscious Strategy
Even organizations with varying sustainability goals that are each approaching a net-zero strategy for various outcomes can share budget-conscious strategies for achieving them by collaborating with one partner that provides a holistic, integrated solution from consultation through implementation and maintenance. This one-stop-shopping approach helps organizations hit their ambitious targets with maximum efficiency and at minimal cost.
With the ongoing and growing shift to more sustainable, more efficient sources of energy, organizations with ambitious electrification plans may see their strategies getting increasingly complex. Collaborating with one partner that provides integrated, custom-built solutions can help them boost production while cutting both emissions and costs as they contribute to a cleaner future for the planet.
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