An energy storage system (ESS) is a device or group of devices used to store energy and supply it for later use. Battery, chemical, electrochemical, mechanical, and thermal are some of the popular energy storage systems available to meet everyday energy needs.
Energy storage systems make it easier to store and deliver energy where and when needed to create a more resilient energy infrastructure and provide cost savings to consumers and utilities. Furthermore, these ensure system reliability and stability by responding rapidly to power fluctuations.
The variable supply from renewable sources and a surge in demand for electricity are posing challenges for energy grids worldwide in addition to the rising energy cost scenario, which demands more flexibility in our energy mix to make clean energy accessible and affordable to all.
Delivering energy reliably at the flip of a switch is achievable with current and emerging energy storage technologies.
Even when the sun does not shine or the wind does not blow, grid-based energy storage makes it possible to address solar or wind intermittency and make clean energy available consistently for residential, commercial, and industrial applications.
Keep reading to learn more about an ESS and the global energy storage systems market.
Components of an Energy Storage System (ESS)
A typical energy storage system includes two main components:
The power conversion system (PCS) handles AC-to-DC and DC-to-AC conversions (AC – Alternating Current and DC – Direct Current are types of electric power), with energy flowing into the batteries for charging them or being converted from battery storage into AC power and fed into the grid.
The battery management system (BMS) is responsible for cell charging, balancing, and health monitoring, along with a microcontroller that provides system control and communication.
Drivers of Energy Storage Systems
In the rapidly evolving power industry, more and more companies are choosing renewable energy sources to meet varied needs, such as:
However, renewables such as solar and wind are subject to weather changes. An ESS system can complement and mitigate the intermittency of solar or wind power by storing energy for later use.
For example, when solar panels are affected due to cloud cover or rain, ESS technology helps maintain a reliable power supply source and utilize stored energy when required.
Furthermore, energy storage helps electricity grids, including microgrids, operate more cost effectively and efficiently because the system runs at average load rather than peak load. ESS technologies can also generate substantial savings annually.
According to an estimate by Imperial College London’s Energy Futures Lab, “energy storage technologies could generate savings of £10bn a year by 2050 in the UK.”
As the energy storage industry continues to evolve, adapt, and innovate in response to changing energy requirements, let us look at the main drivers of the surge in energy storage systems:
A growing number of grid stability ESS projects
Growth of energy-intensive industries (such as data centers)
Increasing demand for uninterruptible power supply
Increasing popularity of solar plus storage in the residential market
Rise of wind and solar PV power generation technologies
Time shifting
Front-of-the-Meter (FTM) and Behind-the-Meter (BTM)
The growing adoption of energy storage as a service (ESaaS) enables energy storage companies to deliver reliable power and potential cost savings to commercial and industrial (C&I) users.
Front-of-the-meter (FTM) and behind-the-meter (BTM) are commonly used terms in the context of energy storage.
Front-of-the-meter: Utilities use energy storage to relieve congestion on aging grid infrastructure and generating plants. Energy storage enables utilities to balance grid loads and extend infrastructure life while progressing toward a distributed energy future.
Behind-the-meter-storage systems: BTMS systems directly supply electricity to buildings and homes and help minimize grid impact, integrate EV charging, and more.
Researchers are working on developing energy storage technologies for BTMS stationary applications as the BTMS market is expected to see strong growth driven by consumer awareness and cost reductions coupled with EV adoption and solar hybridization.
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