Excerpt from triplepundit.com
New energy storage technologies are surging into the market, as business leaders and policymakers seek to address climate change, support renewable energy, and create a more reliable and resilient grid. However, not all energy storage solutions are the same. The global economy faces multiple challenges in addition to climate change. To foster long-term sustainability at a holistic level, energy storage should support reliability and security while benefitting people and the planet, including historically disadvantaged communities.
Why energy storage matters
The technology behind wind turbines and solar panels is now more efficient and economically competitive than ever before, but nothing can change the essential nature of wind and solar power.
Wind speeds vary by the hour, day and season. Sunlight is absent all night, and cloudy weather can cut into solar panel performance during the day.
That’s where energy storage comes into play. Batteries can store enough electricity to fill the gaps when the output from wind turbines and solar panels shrinks.
Businesses can use energy storage to absorb excess wind or solar energy during low demand periods and discharge it strategically to avoid peak demand charges. They can also use energy storage in place of diesel or gas generators for emergency backup power and avoid longer outages with solar-plus-storage microgrids.