All types of Battery Energy Storage Systems offer pros and cons in terms of capacity, discharge duration, energy density, safety, environmental risk, and overall cost. However, Li-Ion batteries are by far the most widely used in BESS systems these days.
A major factor in the rapid increase in the use of BESS technology has been a 50% decrease in costs of energy storage over the last two years. While costs are still high compared to grid electricity, the cost of energy storage has actually been plummeting for the last 20 years.
Storage systems at the utility customer level can also result in significant savings to businesses through smart grid and Distributed Energy Resource (DER) initiatives, where cars, homes and businesses are potential stores, suppliers and users of electricity.
Security of supply
Storage technologies are also popular because they improve energy security by optimizing energy supply and demand, reducing the need to import electricity via inter-connectors, and also reducing the need to continuously adjust generation unit output.
In addition, BESS can provide system security by supplying energy during electricity outages, minimizing the disruption and costs associated with power cuts.
Many governments and utility regulators are actively encouraging the development of battery storage systems with financial incentives, which is likely to lead to further growth.
“ Battery Energy Storage System will become the core of home Energy Storage ”
Advantages of Battery Energy Storage Systems
There are several advantages to using BESS, Advantages of BESS including:
- Provide a cost-effective way to store excess energy generated by renewable sources like wind and solar farms.
- Can store excess electricity generated by renewable energy sources such as solar or wind farms, allowing it to be used at a later time when these sources are not available.
- BESS can provide backup power during outages or extreme weather events, reducing the need for costly distribution upgrades or emergency generators.
- Assist in load leveling and grid support, helping to balance fluctuations in electricity demand throughout the day and reduce congestion on the grid.
- Bess can improve power quality by smoothing out voltage fluctuations that may otherwise disrupt equipment operations.
- Many types of BESS are easy to install, making them a popular choice for businesses and homeowners looking for reliable energy storage systems.