Energy storage systems capture energy produced at one time for use at a later time and can be utilized with or without renewable energy systems.
Energy storage is a fast growing technology allowing energy consumers more flexibility in how and when they use energy. With an energy storage system, energy users can store energy when they don’t need it and use the stored energy when it is most cost effective to do so. This helps reduce demand charges and maximize energy use during the less expensive off-peak time of day. Energy storage systems come in different technologies like Li-ion batteries, flow batteries, thermal storage, and fly wheels, to name a few. The most popular and fast growing technology for energy storage is Li-ion batteries. When connected to on-site energy generation and controls, energy storage can be part of a microgrid providing energy security via backup power.
BENEFITS OF ENERGY STORAGE
- Manage load and the utility bill
- Provide demand response
- Improve power quality (when connected to on-site generation)
- Provide demand response
- Improve power quality (when connected to on-site generation)