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The Versatility, and Possibility, of Energy Storage
When you consider pairing energy storage with solar solutions for your company, the main thing to think about is versatility. Many assume energy storage is just a backup that provides energy when the sun is down. On the contrary, energy storage offers much more.
Energy storage is uniquely flexible and provides additional cost savings beyond the low-cost energy produced by a PV system. It also creates a potential new revenue stream and the ability to integrate innovative technologies into your sites. Energy storage is more than just a big battery; it is energy versatility.
Several factors affect electricity prices, and the cost to supply electricity changes minute by minute. Utility companies can charge more at peak usage hours, which is often when businesses need the most energy, sometimes more than the PV system alone can provide.
Storage helps to offset this via a process called “peak shaving.” A PV system can charge storage batteries during off-peak hours with low-cost solar and deploy that energy during the most demanding (and most expensive) times of day. This reduces or even eliminates the need to take power from the grid during peak times. Peak shaving with energy storage therefore helps to lower costs and keep them regular.
Energy storage can also help you to take full advantage of net metering opportunities. Your charged battery can send unneeded energy back to the grid, giving your organization credit for every kWh that you provide. This process is automated and helps maximize net metering credits and lower your overall energy cost.
Energy storage is more than just a big battery; it is energy versatility.
Another benefit of energy storage is creating new revenue streams through electric vehicle charging stations. EV sales are on the rise, and as more hit the road, both employees and customers will be looking for convenient charging stations. Businesses that provide EV charging stations have the option to charge customers a fee when they plug in for the energy they use, adding a stream of income.
EV charging stations can introduce a variable to your site’s energy usage, since vehicles could pull up at any time and plug in. Integrated energy storage provides flexibility and confidence in managing your company’s energy usage since the storage can provide what’s needed, even if a fleet of EVs show up and start charging.
The integrated energy storage system at IKEA ensures that its customers can power up at on-site EV charging stations anytime.
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