Many facilities must pay demand charges based on peak electricity usage. According to an NREL study, this typically accounts for 30 percent to 70 percent of...
Many facilities must pay demand charges based on peak electricity usage. According to an NREL study, this typically accounts for 30 percent to 70 percent of total energy expenditures on a commercial electric bill.
Power management is a critical concern for many industrial facilities. Energy costs can be burdensome for even small businesses, so identifying cost-effective alternatives is a top priority for many managers and executives. The installation of energy storage systems is one solution that is gaining popularity and effectiveness.
Long-term energy storage, in particular, offers numerous advantages to brands struggling with energy management. Implementing such systems gives businesses greater control over distributed energy resources, allowing them to save money on demand charges, offer critical backup power to protect against grid outages, and incorporate renewables and energy storage to foster more sustainable and financially sound business practices.
Benefits of Energy Storage:
Demand Charge Management
Many facilities must pay demand charges based on peak electricity usage. According to an NREL study, this typically accounts for 30 percent to 70 percent of total energy expenditures on a commercial electric bill. In such cases, 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 strategic technique that can help people save money on energy. In this case, special algorithms analyze consumption patterns and storage efficiency to determine the best time to charge as well as discharge stored energy, shifting peak loads to off-peak hours. As a result, energy storage systems are used to their full cost-saving potential.
Renewable Energy Integration
Although there are numerous advantages to incorporating renewable energy into a facility, effectively utilizing the generated resource is a challenge. Energy storage devices improve the utility of renewable assets by allowing for the efficient and convenient storage of excess energy or power generated during off-hours. Finding the right storage solution, according to many, is the tipping point at which renewable energy becomes profitable.