Battery storage gives you more control over when you use energy and increases reliability. Storage also allows you to hedge against the rising costs of electricity, providing annual savings of as much as 10%. While storage can be installed as a standalone asset, financial benefits are maximized in a number of ways when it works in tandem with a solar energy system:
Time of Use (TOU) Arbitrage
The hours of a day are not all treated equally by utility companies. Electricity rates can vary between the morning, afternoon, and evening hours, leaving you stuck with a big bill if you happen to be consuming power at the wrong time. Battery storage enables a customer to save excess electricity produced by their solar system and then use it to power their own loads when utility electricity is at a premium.
Utility companies also levy steep “demand charges” based on a customer’s highest electricity usage during the billing cycle. Customers can “shave” their maximum utility power consumption, and thus reduce demand charges, by using stored battery energy to supplement the electricity generated by their solar system.
Added Layer of Resiliency
If your solar system has islanding capabilities, adding battery storage can vastly increase your level of energy resiliency, allowing you to run your facility even in the event of a utility outage. This is essential for users who rely on a continuous supply of electricity, such as hospitals, cold storage facilities, schools, and community centers.
There are several options when it comes to adding storage, and each one helps accommodate a different set of energy needs. We can help you navigate them all, and help you choose the best solution for your unique situation.