Benefits of Battery Storage
Energy storage fundamentally improves the way we generate, deliver and consume energy. Energy storage helps during emergencies like power outages from storms, equipment failure, accidents or even terrorist attacks. But the game changing nature of energy storage is its ability to balance power supply and demand instantaneously – within milliseconds which makes power networks more resilient, efficient, and cleaner than ever before.
Energy storage is needed on a grid scale for three main reasons. The first is to “balance load” – to shift energy consumption into the future, often by several hours – so that more generation capacity is used efficiently. The second reason is to “bridge” power – in other words, to ensure there is no break in service during the second to minutes required to switch from one generation source to another. Finally, power quality management - the control of voltage and frequency to avoid damaging sensitive equipment – is an increasing concern that storage can alleviate whenever needed, for a few seconds or less, many times each day.
Another benefit is that energy storage systems are ‘fuel neutral’, whether energy is generated from oil, gas, coal, nuclear, wind, solar, geothermal or other sources. Energy storage captures excess electricity at high efficiencies for optimal use during outages, peak hours, or whenever grid management is a challenge.
Today’s electricity grid is increasingly vulnerable to threats from nature, terrorists, and accidents. Millions of families and businesses are victimised by outages each year. Power outages cost us $130 billion globally annually, hitting the job creating commercial and industrial sectors hardest. Energy Storage can significantly reduce the grids vulnerability to these threats.
Energy Storage supports the integration of renewable energy generation. Energy storage can also help cut emissions as it takes more of the load of fossil fuel generation. Peaking generation is one of the most costly and wasteful aspects of the grid, so making existing generation go further and avoiding capital and resource intensive new facilities would make a significant contribution to our environmental priorities.