So - here is the problem - your company is trying to reduce emissions, reliance on the grid and the cost fluctuations of energy. You and your board, decide to invest in a suite of renewable energy products. All the paybacks are looking good, the technologies suit your ambitions... BUT .. a lot of the energy you will generate won't be at the time you want to use it.
The paybacks start to reduce, support for the investment starts to wain .. does this sound familiar? We have heard this from our clients, and we're pleased to say that we feel it's becoming less of a concern.
We have found that Battery Energy Storage Systems (BESS) are becoming a really good option for business, for a number of reasons:
The Battery Technology
Battery technology has evolved significantly in the last 5 years. With many brilliant minded engineers and scientists believing that battery technology is the lynch pin in the adoption of low carbon technologies, much time, effort, energy and investment has gone its way, and we are seeing the outcome of that investment now. Some of the benefits:
Higher energy density - smaller, lighter more efficient with improved performance
Increased efficiency - advances in materials and optimisation of the battery's internal structure and design enables increased volume of energy stored, less losses and better utilisation of available space
Improved safety features - Enhanced safety features, such as thermal runaway prevention mechanisms and improved battery management
Longer lifespan and cycle life-
The advances in algorithms
Big advances are being made - simply put - these sophisticated algorithms are designed to enhance and optimise the battery performance and make low cost energy storage a reality:
Optimal charging and discharging to ensure they operate at their most efficient levels
Peak shaving: Algorithms can predict peak energy demand periods and charge the batteries during off-peak hours when electricity prices are lower. This allows the stored energy to be used during peak hours, reducing the need to draw power from the grid at higher rates.
Grid stabilisation: Algorithms can help manage the flow of energy in and out of the battery storage system to stabilise the grid and support renewable energy integration. This is especially important in systems with high penetration of solar or wind power, where energy generation can be intermittent.charge from renewable source
Energy arbitrage: Algorithms can analyse market prices and energy demand patterns to determine the most cost-effective times to charge and discharge the batteries. Creating an optimal environment to buy energy when prices are low and selling it back to the grid when prices are high.
Predictive maintenance: Algorithms can monitor the health and performance of battery storage systems in real-time and predict when maintenance or replacements are needed.
Algorithms enable battery storage systems to operate more efficiently, reduce energy costs, and increase the lifespan of the battery. Low cost energy storage will no doubt, benefit all our clients and if you'd like to get in touch to see how you/your organisation can benefit from these advances, please drop us a line here.