Energy storage systems (ESS) are key to bringing clean and reliable energy to the world. This blog explores the various applications of energy storage.
There is an increasing need for reliable energy storage technologies as the grid faces challenges related to the increasing demand for electricity and the fast adoption of electric vehicles. The growing demand for power by commercial and industrial (C&I) users is also a contributing factor. As more EV chargers are installed, lithium-ion energy storage systems are becoming a reliable and affordable tool to help relieve the stress off the grid.
Energy storage systems also offer great value to microgrid energy users who can use them to provide reliable and affordable energy in settings such as mining and aquaculture. In summary, energy storage systems can be integrated in utilities, commercial and industrial environments, and microgrid settings.
Electric utility companies are responsible for providing stable electrical power to consumers, but power production and consumption don’t always match, especially during times of peak energy demand. There are some existing solutions in place, including using renewable energy, peaker plants, and demand response strategies.
Relying on renewable energy alone can result in significant gaps in power stability, evidently seen through the duck curve problem in California where the majority of solar energy is available when electricity demand is extremely low, and disappears at times of high demand. Communities that generate a significant amount of solar power see the power needed from fossil fuels display a sudden increase around sunset, reaching its peak during the mid-evening time.
Without energy storage, utility companies have to generate power from other sources after peak solar generation. An alternative is relying on fuel-based peaker plants for energy stabilisation, which are inefficiently operated and contribute to carbon pollution. Demand response strategies are an increasingly valuable alternative whose potential impacts are amplified by grid modernization efforts. Some of the demand response efforts include offering time-based rates such as time-of-use pricing, critical peak pricing, variable peak pricing, real time pricing, and critical peak rebates.
With energy storage systems!
A few types of energy storage that companies can explore for viability include:
An ESS leverages the intermittency of renewable resources such as solar and wind to meet peaks in power demand. Without it, utilities depend on traditional and less sustainable energy sources like power plants to meet the shortages of renewable energy.
Additionally, utility companies are preparing for the quick and massive adoption of EVs. Most grids are not ready to handle the growing need for EV chargers. The adoption of EVs has shifted the attention towards renewable energy sources and energy storage.
Current solutions may be expensive and lack a clear indication of when there will be an ROI for early adopters. Companies like Moment Energy have developed sophisticated systems to provide a second life to EV batteries, making the adoption of ESS clean, affordable, and reliable.
Businesses in deregulated energy markets are taxed with demand charges for the power they draw from the grid. The Ontario government has introduced the Global Adjustment charges to help curtail power use. This new model requires businesses to be strategic about their energy use and plan around the peaks in demand.
Over the past decade, many businesses have turned to ESSs to even out their power consumption. This has greatly reduced their energy costs. It has also helped to reduce the pollution that results from energy generation. This practice is often referred to as “peak shaving”.
Some businesses require a constant flow of energy to operate without interruption yearly. Ensuring that electricity runs without interruptions is critical to their operations. Power outages in some areas may last anywhere between a few hours to a couple of weeks. An ESS would provide sufficient power to ride through short power outages.
In the case of long power outages, the ESS would protect the facility’s equipment by allowing an orderly shutdown of processes or a transfer to the on-site energy generation system upon energy depletion. In locations where blackouts may last days or weeks, it is recommended to pair an energy generator with an ESS, as this would allow for better efficiency and shorter run times for the generator.
Energy efficiency is key when operating a microgrid system. Microgrid energy storage systems allow for facilities to improve grid reliability and replace fossil fuel consumption with clean energy. Although the cost for an ESS may seem expensive at first, many businesses have seen impressive ROIs after just three to four years of adopting a system.
In addition, the increasing cost of fossil fuels has made it less affordable to rely solely on diesel generators. Having a hybrid system that pairs solar arrays and diesel generators with an ESS has become a compelling option for businesses looking to decrease their energy costs.
At Moment Energy, we provide clean, affordable, and reliable energy. We have developed an energy storage system that can integrate with various power sources such as the grid, hydrokinetic turbines, solar and wind power generators.
In providing a second life to EV batteries, we can offer our energy storage units at two-thirds the price of other lithium-ion batteries. In addition, our batteries provide scaling flexibility as they stack with 60 kWh building blocks to accommodate your project’s size requirements.
Do you want to learn more about what we can do? Click here or fill out the form below to book a consultation with our team.
Miguel is the Marketing Manager at Moment Energy. He brings a comprehensive knowledge in advertising and marketing in a B2B setting. He has worked in several small and medium sized companies worldwide.
Marketing Manager, Moment Energy