Energy storage is a new and powerful tool for accomplishing the seemingly impossible task of matching and in many cases off-setting the grid electricity supply to the demand on a second by second basis. But this is not its only task.
- It enables energy to be harvested when available and stored for consumption at a more optimal time, creating real cost savings.
- To maximize energy savings by being able to store solar energy and thus use it more effectively
- To offset consumer feed-in tariffs by being able to avoid using the grid at peak times when electricity is more expensive
It provides a buffer source for use in case of emergencies. Not just as a large uninterruptable power supply, but to “island” the business when utility power ceases for longer periods of time.
It can be a source of revenue generation, supplying the utility with needed energy within milliseconds preventing them from spinning up another larger generation source or importing it from other regions.