Many facilities must pay demand charges as regards peak electricity usage. Based NREL study, this typically accounts for 30 % to 70 % of total energy expenditures on a commercial electric bill.
Fremont, CA: Power management is critical for many industrial facilities. Energy costs can be difficult for even small businesses, so identifying cost-effective alternatives is prime for many managers and executives. The establishment of energy storage systems is one solution that obtains popularity and effectiveness.
Long-term energy storage offers several advantages to brands struggling with energy management. Implementing such systems provides businesses greater control over distributed energy resources, saving money on demand charges, offering critical backup power to protect against grid outages, and incorporating renewables and energy storage to foster more sustainable and financially sound business practices.
Benefits of Energy Storage:
Demand Charge Management
Numerous facilities must pay demand charges following peak electricity usage. As stated in an NREL study, this typically accounts for 30 % to 70 % of total energy expenditures on a commercial electric bill. In such a situation, strategic energy storage can provide significant cost savings—discharging energy during peak usage periods reduces the load during those peak periods, leading to lower demand charges.
Shifting Load
Load shifting is a tactical technique that can assist people in saving money on energy. In this case, unique algorithms analyze consumption patterns and storage efficiency to determine the best time to charge and discharge stored energy, shifting peak loads to off-peak hours. Hence, energy storage systems are used to their full cost-saving potential.
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Renewable Energy Integration
Even though there are numerous advantages to incorporating renewable energy into a facility, utilizing the generated resource is challenging. Energy storage devices improve the usefulness of renewable assets by allowing for the efficient and convenient storage of surplus energy or power generated during off-hours. Finding the proper storage solution, according to many, is the tipping point at which renewable energy becomes profitable.
