The Benefits Of Energy Storage For Businesses

As we move towards a world where the demand for energy is only poised to grow, new challenges are arising, especially when it comes to energy storage.

With the acceleration of new technologies including solar panels as well as new demand-side applications including electric vehicle (EV) charging stations, the demand for efficient energy storage (ESS) worldwide has never been stronger. Especially when we are switching from centralized to distributed generation solutions.

In fact, in Singapore alone, the solar capacity is poised to reach 2 GW by 2030 and 200 mWh of energy storage beyond 2025! ESS is playing a pivotal and growing role in the growing shift towards green and renewable energy.

However, to move towards a renewable and carbon-free energy future, commercially viable energy storage solutions have to be developed. Solutions that take into account new technologies, intermittent generation sources as well as working together with the power grid & grid operators.

How Energy Storage Can Help Businesses

With energy storage, businesses can complement their renewable energy solutions and help save money.

Renewable Energy Use

Incorporating battery energy storage systems can significantly enhance how businesses harness renewable energy sources while maximizing their efficiency and cost-effectiveness.

One of the key benefits is enabling businesses to reserve capacity, ensuring constant energy production even when renewable sources like solar or wind experience fluctuations.

Excess energy generated during peak periods can be stored in batteries, allowing businesses to draw from this reserve during low-energy production periods.

This seamless integration of renewable energy with battery storage not only guarantees a stable and reliable energy supply but also reduces dependency on conventional grid power, leading to substantial cost savings in the long run.

Backup Power Benefits

Battery energy storage is a game-changer for businesses, especially those reliant on continuous power supply like data centres or operating in remote or off-grid locations. Such establishments can face significant challenges during power outages or disruptions.

With battery storage systems in place, businesses can have a reliable backup power source, safeguarding critical operations and preventing data loss.

Whether it’s bridging the gap during power restoration or maintaining off-grid applications, battery energy storage ensures uninterrupted productivity, minimizing downtime, and protecting businesses from potential financial losses associated with power-related disruptions.

Energy Arbitrage Opportunities

Energy arbitrage is another compelling benefit that battery energy storage brings to businesses. Many utility companies implement time-of-use pricing, with energy costs varying based on demand during different times of the day.

With battery storage, businesses can capitalize on this cost difference by charging their batteries during off-peak hours when energy is cheaper and discharging the stored power during peak hours when energy prices are higher.

This practice, known as energy arbitrage, allows businesses to offset high electricity costs, ultimately lowering their overall energy expenses.

By strategically managing energy consumption patterns through battery storage systems, businesses can optimize their financial savings and further enhance their sustainability efforts by reducing peak-time strain on the grid.

Build Your Solar System With TotalEnergies ENEOS

At TotalEnergies ENEOS, we help companies and organisations across the APAC region build effective and efficient solar systems, allowing them to facilitate their transition towards green energy.

One such example is our solar energy and energy storage solution for Kulara Water, the leading pure natural mineral water producer of Eau Kulen in Cambodia.

The installation combines a hybrid of solar energy and battery storage, providing energy continuously. This includes an on-site 800 kilowatt-peak (kWp) ground-mounted solar system connected to a 1344 kilowatt-hours (kWh) battery system.

To learn more about our business and how we can help with your ESS solutions,  contact us directly for more information.