Battery technology solves solar’s largest problem – the reduction of solar production on a cloudy day or overnight
The current utility grid has always managed energy supply costs based on overall demand and must average costs on your electricity bill based on average consumption. This means consumers can actually pay for energy which they never use in the form of higher rates and demand charges. Now, there are options to store energy by capturing electricity produced by both renewable and nonrenewable resources and storing it for later release on demand. At times of low demand, excess energy can be stored for later use in times of high demand, when the supply is lower.
This approach is very effective with renewable generation. Solar generates smaller amounts of power in the absence of sunshine, but often produces more energy than you can use during sunny days. A solid energy storage solution balances the supply to provide a more reliable supply that matches demand, thereby also requiring consumers to pay for only what they actually use.
Key benefits of Battery Storage
Time of use hedging
- Time of use hedging is the distribution of “free electricity” that is stored in a battery when the utility rates are otherwise at their highest, in order to achieve maximum energy savings.
- “Peak Shaving” refers to the ability to supplement your utility power with battery stored solar power during times of high demand. This requires both a solar system and a storage system. With a peak shaving solution, consumers can avoid demand charges that can make up more than half of your bill. When you use stored solar energy to reduce peak demand spikes, you can dramatically reduce your monthly utility bill.
Level of Resiliency
- For many critical organizations, such as hospitals, schools, community centers and cold storage facilities, a solar storage solution provides a highly secure method of energy resilience. You will have a reliable, continuous supply of electricity whether or not the utility grid goes down.