If your business is energy-hungry, you should seriously consider investing in an energy storage system. You will save energy, time, and money. You will also be able to meet your company’s electricity demand all the time, even when there is a major power outage (blackout, power cut). Most entrepreneurs are interested in energy storage technology but do not know much about it, especially its benefits.
In this article, I will explain what energy storage is and provide a couple of examples. I will also show you how your company could benefit significantly.
Constantly meeting energy demand
Our grid system provides private and commercial properties with the power we need to work, produce things, cook, heat our homes and offices, and keep the lights on. Utility operators around the country strive to make sure that the energy supply is reliable, i.e., continuous and plentiful. As demand rises and falls, power plants increase and reduce the amount of electricity they generate respectively.
Rather than store power and release it as a backup for fluctuating demand, utility companies prefer to rely on altering production accordingly. They don’t currently store energy because it is too expensive. Also, power plants operate at very high efficiency when they are at full capacity.
According to HO-MA Notstrom, which specializes in power generators and emergency power generators, there are times when the electricity supply unexpectedly fails. A power outage can occur, for example, during and after an earthquake, hurricane, devastating flood, or terrorist attack. During grid maintenance activities, accidents sometimes happen.
Energy storage systems
Energy storage systems for homes and businesses are a solution to those unexpected changes and can help companies run efficiently even when the grid lets them down. By using renewable energy technologies, such as wind and solar power alongside energy storage systems, homes, businesses, government departments, and other organizations can enjoy a seamless, uninterrupted supply of electricity.
Your company also benefits from greater flexibility. Rather than sending energy back into the grid, it can be stored for later use. You subsequently save money, enjoy a reliable source of off-grid electricity, and can even reduce your greenhouse gas emissions.
Saving Money
Your business can save a significant amount of money when you invest in energy storage. Lower costs mean greater profits. Energy storage systems work alongside renewable energy resources, such as wind and solar.
Renewable energy sources never run out (on a human timescale). If you have a solar power system, i.e., you generate electricity from the Sun’s energy, it is a source that will never run out. The Sun’s energy will be there tomorrow, next week, month, year, century, etc. This is not the case with fossil fuels – coal, oil, and natural gas. Fossil fuels will be all used up one day.
If you store any energy you don’t need, you will eventually be able to power your entire operation without any assistance from the grid.
Imagine being able to operate year-in-year-out with a near-zero or zero electricity bill. Not only would you make considerable savings, but you would also gain independence. This could happen with an energy storage system alongside your company’s solar panels or wind turbines.
Reliability
In the world of business, predictability is extremely important. This means having a reliable electricity supply. If your business is located in a blackout-prone area, you will need to create your own predictable environment. An energy storage system can help you do just that.
Companies all over the world are learning about the benefits of storing their own energy and embracing technology. It is something you should definitely consider, especially if your competitors are already doing so. If your rivals are saving money as a result, they will soon be able to offer their goods or services at lower prices – may be even lower than yours.
If your company is located in a region where major floods are common in the summer months, you are bound to experience power outages. Today, you can take steps to make sure you never have to worry about unexpected blackouts.
Reduce Your Carbon Emissions
Energy storage helps reduce your company’s environmental impact, and can even be a selling point to attract new business or encourage customer loyalty. Consumers, especially young adults, are extremely concerned about pollution, the environment, and global warming. This is not a passing trend. In fact, it is a concern that will only grow. If you can show customers, consumers, and prospects that your company is environmentally friendly, sales could benefit considerably. A prospect is somebody you think could turn into a paying customer.
Being green is good for your brand image. Your brand image is your company’s personality, what it stands for, its priorities, ethics, and principles. A good brand image is worth gold. If your brand improves, so will sales, and ultimately profits.
The Issues With Energy Storage Systems
Initial costs are relatively high. This is something that sometimes puts off small and medium-sized enterprises. Also, energy storage systems must be used alongside a renewable power source. For some businesses, having an energy storage system might seem more of a luxury than a necessity.
Tesla’s PowerWall, for example, costs about $16,000 for the system itself. On top of that, you must add the installation costs. Getting everything installed is not cheap. You will have to carry out a cost-benefit analysis to determine whether investing in an energy storage system is right for your company at this moment.
If a storage system doesn’t make financial sense, you might still be able to lower your energy costs and carbon footprint. Many utility providers offer green energy plans for about the same price as their traditional options.
If you are in a deregulated energy state like Texas, you have a ton of suppliers, plan types, term lengths, and rates to shop from. The easiest way to see all of your options in one place is to use a commercial electricity marketplace, where you can compare many suppliers rapidly.
Hopefully, after reading this article, you now have a better idea about what an energy storage system is and how it might benefit your company. Good luck!
Interesting related article: “What is renewable energy?“