Energy storage is a key element of the energy transformation. They are used to store energy for later use in an efficient and sustainable manner. The main purpose of energy storage is to ensure the flexibility and stability of energy networks. Thanks to storage, surplus energy can be collected and used during peak hours or in the event of a failure, which contributes to increasing the reliability and resilience of the system.
Energy storage also enables optimal use of renewable energy, which is not always generated when it is most needed. Thanks to storage, energy can be stored during periods of low demand and released when demand increases, allowing for better use of resources and reducing the need to use traditional energy sources.
As the share of renewable energy in the global energy mix increases, energy storage will play an increasingly important role. They will allow for an increase in the share of renewable energy by eliminating its fluctuations and instability, which will support the sustainable development of clean and sustainable energy sources.
What is electricity storage?
Energy storage is a device or system that is used to collect and store energy for later use. This is important for the stability of energy networks and the efficient use of renewable energy, which is unpredictable and variable over time. Energy storage can take many forms, but the most popular are lithium-ion batteries. In the face of high energy prices during hours when renewable energy sources do not provide energy, their development is crucial to ensure financial savings as well as to accelerate the energy transformation and build a more sustainable energy system.
How does electricity storage work?
Energy storage works by collecting and storing energy in batteries. The inverter connected to the energy storage unit sends information to the BMS (energy storage management unit) about a possible energy surplus or energy shortage. Based on this, the warehouse is either loaded or unloaded.
Why is it worth investing in an electricity storage facility?
Investing in energy storage has many benefits. First, energy storage enables the efficient use of renewable energy, which is unpredictable and variable over time, by accumulating surplus energy and releasing it when needed. Secondly, energy storage contributes to the stability of energy networks by balancing energy demand and supply and providing safeguards in the event of failures. Third, investments in energy storage accelerate the energy transition, supporting the development of renewable energy and reducing greenhouse gas emissions. Finally, energy storage can generate revenue by participating in the energy market, both by selling stored energy during peak times and by providing system services to network operators.
What is the cost of energy storage?
The cost of energy storage can vary significantly depending on the type of storage technology and the scale of the installation. The costs of energy storage have dropped significantly in the last decade. This price reduction is due to technological progress and a larger scale of production.
The costs of energy storage based on lithium-ion batteries are currently the most competitive and are decreasing rapidly. Battery cost depends on capacity, durability, performance and other technical factors.