Rising electricity prices have a negative impact on businesses financial health. Given the shift towards decarbonisation and the regulations related to it, the demand for green energy will increase. In a response to this trend more and more businesses install solar power systems at their premisses. Combining PV panels with energy storage system companies can reduce their dependence on high energy prices.
How energy storage works?
Energy storage systems accumulate and store electrical energy for later use. In this article we will focus on the most common type of energy storage in use today, that is, storage using lithium ion batteries. The way these devices work is like how conventional batteries, rechargeable batteries and powerbanks work.
Industrial battery storage operate on similar principles to their small-scale counterparts but are capable of powering powerful factory equipment. They have more capacity and more power, so can be used on a larger scale. They are gaining popularity and are becoming one of the most important elements of the energy transition.
Benefits of energy storage for business
Solar power prosumers who don’t consume all the energy they produce have to feed it back into the grid. In this situation they will often receive payment for the energy at the wholesale market price, i.e. at a lower price than they have to pay later when taking the same amount of energy from the grid. To avoid this financial loss, it is advantageous to use as much of the energy generated on site as possible.
Energy storage systems come to help here and offer your business a range of benefits. They cover energy needs in times of peak prices and reduce the company’s dependency during grid overloads and power outages. They manage reactive power, regulate voltages and eliminate disturbances that affect power quality.
Energy storage functions, among others:
- covering energy demand at peak times,
- reducing your business dependence on the effects of network overloads and failures,
- management of reactive power, voltage regulation,
- elimination of power quality disturbances.
Battery storage for various industries
Energy storage can be used and are intended for companies in the most diverse areas of activity. They are used in production facilities or on construction sites as well as in large office buildings. Energy storage systems make it possible to cover a temporarily increased demand for electricity from one’s own resources. In addition, their presence leads to a reduced use of grid electricity at times of peak tariffs. This in turn reduces energy costs, which ultimately has a positive impact on the overall financial performance of the company. This is important for any business, regardless of the industry in which it operates.
Energy storage solutions for power outage
Energy storage system in companies is often used for emergency power supply in case of unexpected power outages. In data centres it can be used as a mass UPS for the operation of servers. In production facilities energy storage system performs their particularly important service of securing the power supply during the production process when grid access is interrupted. Companies invest in storage solutions to protect themselves against such events, as disruptions and failures in automated production processes can cause enormous costs.
Reducing the cost of purchasing electricity
With electricity prices on the rise, entrepreneurs are looking for ways to reduce their fixed costs, including energy purchase costs. Having energy storage system in place seems to be the best way to cut costs is to reduce peak loads.
Energy storage is the most beneficial in combination with solar power system, or other renewable energy resources. This makes your business less dependent on rising utility prices. Thanks to such solutions, business can actively manage their energy and at the same time reduce their costs.
Battery storage reduces your business carbon footprint
All the described advantages and functions of energy storage offer primary financial benefits. But the storage and priority use of renewable energy also leads to a reduction in the carbon footprint. As a result, business can reduce their carbon footprint.
Energy storage for electromobility
Another potential use of battery storage by business is for electromobility. Companies can use their own stored energy to charge their vehicles. In addition, businesses can offer their customers stored energy at their car charging station.
Choosing the right energy storage solution
Given its numerous advantages, it makes sense to consider the use of energy storage systems in your company. First the needs of the company should be analysed in detail and then it can be determined which type and parameters of the storage system would be optimal for the business.
How much does energy storage system cost?
Only when the exact requirements have been clarified can the realistic costs of an installation be estimated. It should be noted, however, that in this industry most assessments are subject to individual variety. In general, the price of battery storage for businesses is mainly influenced by the type of cells used, the storage capacity and voltage, and the type of enclosure. In addition, the total cost depends on the type and extent of safety systems such as fire protection, ventilation, heating, cooling, etc.. It should be emphasised that technological advancements and the growing prevalence of battery storage are tending to drive prices down. This is increasingly making them more accessible.
ZPUE energy storage system
Do you think your business my benefit from battery storage? Contact us. ZPUE offers a complete energy storage solution. We also supply additional infrastructure: substation, medium-voltage and low-voltage switchgear, electricity storage and the charging stations.