Evaluating the Value of Energy Storage
When batteries are placed as far downstream as possible in the electricity system, they can provide a number of valuable stacked services for businesses, according to a recent blog post from the Rocky Mountain Institute. RMI outlines three steps to help businesses evaluate the value of energy storage:
- Identify the primary service the battery will provide. For businesses with solar PV systems, a battery could optimize the building’s load to maximize self-consumption of PV.
- Identify secondary services the battery could provide. The primary use for the battery may not use its full capacity, so take some time to evaluate what services the battery could provide with its spare capacity. Secondary services include things like backup power, power quality improvements, and solar PV integration.
- Identify any tertiary services the battery could provide back to the grid. If your local utility offers a demand response program, the battery’s remaining capacity could be used to participate in the program, providing an additional revenue source for your business.
The energy storage business is booming, according to The US Energy Storage Monitor Report. The report, which is published quarter by GTM Research and the Energy Storage Association, said that during the second quarter of 2015, deployments increased by six-fold compared to the previous quarter.
Photo via Shutterstock
- 2015 Insider Knowledge
- The Missing Puzzle Piece: Automated Utility Data Aggregation
- Improve Occupant Comfort & Reduce Energy Costs Through Humidity Control
- eBook: Five Key Considerations for Integrating Renewables into Your Procurement Strategy
- 2016 Energy and Sustainability Predictions Findings from Facilities Professionals
- Four Key Questions to Ask Before Your Next Energy Purchase
- 10 Tactics of Successful Energy Managers
- Solar Request for Proposal (RFP) Guide
- Energy Manager Today Awards Top Products and Top Projects of the Year
- Planning for a Sustainable Future