Effective ways to reduce energy costs in your company using energy storage systems
Are you looking for effective ways to reduce your company’s electricity costs? Consider installing an energy storage system! With energy storage, you can not only optimise your energy consumption but also significantly reduce your electricity expenses. In this article, we present effective ways you can lower your electricity costs with energy storage systems.
- 8 Min.
Overview
Benefits of using energy storage systems to reduce energy Costs
Using energy storage systems offers a range of benefits when it comes to lowering energy costs. Here are some of the key advantages:
- Reduce peak loads: By using an energy storage system, you can reduce peak loads in consumption and avoid high grid fees. In the example below, we look at a medium-sized business with a rooftop PV system with a capacity of 70 kWp and two INTILION | scalestac units with a capacity of 308 kWh and 300 kW. Assuming the company has a 90% self-consumption rate, they still exceed 2,500 grid usage hours despite having their own energy generation, as they are unable to install a larger PV system on their roof. In this case, it is worthwhile to use peak load management to reduce the peak loads of their production equipment.
- Maximise self-consumption: With an energy storage system, you can store the electricity generated on-site and use it later. This maximises your self-consumption and reduces your dependence on expensive grid electricity.
- Increase flexibility in energy purchasing: With an energy storage system, you can buy electricity at lower tariffs and use it during more expensive tariff periods, thereby reducing your energy costs. This point is further strengthened by the upcoming dynamic electricity pricing, which will be available from 2025.
- Use eco-friendly energy: If you pair your energy storage system with renewable energy sources like solar power, you can not only reduce your CO2 emissions but also benefit from government subsidies.
Using energy storage systems offers an effective way to lower your company’s electricity costs while becoming more environmentally friendly.
To learn more about the advantages and future potential of energy storage: Read on here.
Types of energy storage systems and how they work
There are several types of energy storage systems suitable for businesses. Each type has its own advantages and disadvantages, but they all serve the purpose of storing excess electrical energy and releasing it when needed. Here are some of the most common types of energy storage systems:
- Energy Storage Systems: Energy storage systems are one of the most popular options for businesses. They consist of a series of batteries that can store and release electrical energy when needed. This allows businesses to optimise energy usage and reduce electricity costs. Battery storage systems are suitable for short-term peak loads and medium-term energy storage.
- Pumped storage: Pumped storage power plants are larger facilities that store excess electrical energy by pumping water into an elevated reservoir. The stored water is released to generate electricity when required. This type of energy storage is particularly efficient and well-suited for applications where long-term energy storage is needed.
- Air reservoir: Air reservoir plants use excess electrical energy to compress air, which is stored in underground caverns. During peak demand periods, the compressed air is released and used in a gas turbine to generate electricity.
- Thermal Storage: Thermal storage systems store excess electrical energy in the form of heat, which can then be used for electricity generation when needed. There are different types of thermal storage, such as latent heat storage, which uses phase changes in a storage medium to store heat. Thermal storage can hold energy for hours or even provide seasonal storage cycles.
- Flywheel: A flywheel storage system uses the rotational energy of a spinning rotor (flywheel) to store mechanical energy. This energy can be converted back into electricity via a generator, where the rotor slows down as it transfers its kinetic energy. Flywheels are used for short-term storage and are ideal for balancing quick adjustments in the power grid.
- Renewable Gas: One well-known method is the Power-to-Gas process, where excess electricity from renewable sources is used to produce hydrogen through electrolysis. The hydrogen can be stored and used later or converted into synthetic methane. Depending on the storage method, renewable gas can be stored long-term.
Choosing the right energy storage system depends on the specific requirements and needs of your business. It’s essential to thoroughly research the various options and make an informed decision.
Calculating the potential savings through the use of energy storage systems
A key consideration when deciding to implement energy storage systems is understanding the potential savings. How much can your business actually save by using such a system? The calculation of savings depends on several factors, including the size of the energy storage system, your company’s electricity consumption, and current energy prices.
One way to calculate the potential savings is to determine your company’s average electricity consumption and multiply it by the energy prices. By using an energy storage system, you can reduce your electricity consumption during peak demand times and lower your overall electricity costs.
It’s also essential to factor in the cost of purchasing and installing the energy storage system. While there are initial upfront costs, long-term savings can outweigh these costs, leading to significant reductions in overall expenses.
For a more accurate calculation of potential savings, it may be beneficial to consult with an energy advisor. They can provide a detailed analysis and help you make an informed decision about the potential return on investment from an energy storage system.
Tips for selecting and installing a suitable energy storage system
Selecting and installing an appropriate energy storage system requires careful planning and expert advice. Here are some tips to help you make the right choice and ensure a successful installation:
- Analyse your energy consumption: Before choosing an energy storage system, analyse your company’s electricity usage and identify peak demand periods. This will help you determine the correct size and capacity of the storage system to meet your needs.
- Consult with an energy advisor: An energy advisor can assist in selecting the best energy storage system for your business. They can also help calculate potential savings and recommend reliable suppliers.
- Consider lifespan and maintenance costs: When choosing an energy storage system, take into account its expected lifespan and maintenance costs. Some systems require regular maintenance or even replacement of components, such as batteries, over time.
- Check warranty terms: Ensure the selected energy storage system comes with an adequate warranty. This will provide security and protection in the event of technical issues or component failures.
- Plan the installation carefully: The installation of an energy storage system requires thorough planning. Make sure you obtain all necessary permits and have the installation carried out by qualified professionals to ensure safety and compliance.
By following these tips, you can choose a suitable energy storage system and use it effectively to reduce your energy costs. Our team is also here to support you. In a consultation session, our experts will analyse your current situation and discuss potential solutions tailored to your business.
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If you are planning your energy storage project, please contact us.
Funding opportunities and financial incentives for the use of energy storage systems
The use of energy storage systems is often supported by various funding programmes and financial incentives. These can help businesses reduce the cost of purchasing and installing such systems. Here are some of the most common funding options:
- Investment Grants: Many governments offer investment grants for businesses that invest in energy storage systems. These grants can cover a significant portion of the initial investment costs, making the decision to install a storage system more attractive for companies.
- Tax Incentives: In various countries, there are tax incentives for businesses investing in renewable energy and energy efficiency. By installing an commercial and industrial energy storage system, industrial and medium-sized enterprises can take advantage of these tax breaks and reduce their overall costs.
- Lower Grid Fees: Installing an energy storage system can enable businesses to benefit from lower grid fees offered by energy providers. This can significantly reduce electricity costs and improve the system’s profitability.
It is essential to research the different funding programmes and financial incentives available in your country or region. An energy advisor or local government office can help you identify the best options for your business and guide you through the application process to secure funding.
Maintenance and optimal utilisation of electricity storage systems for maximum savings
Proper maintenance and optimal use of energy storage systems are crucial to achieving maximum savings and extending the system’s lifespan. Often, these aspects are included in the manufacturer’s service agreements. Here are some key points to consider:
- Regular inspections: Schedule regular maintenance checks to ensure all components of the energy storage system are functioning properly. Routine inspections can help identify and resolve potential issues before they lead to costly downtime or repairs.
- Optimizing charging and discharging patterns: Ensure that the energy storage system is optimally configured to match your company’s energy consumption. This includes programming the system to reduce power use during peak demand times and maximise self-consumption of generated energy.
- Training Staff: Make sure that the staff responsible for maintaining and operating the energy storage system are properly trained. This ensures the system is run efficiently and minimises the risk of errors or damage. Additionally, maintenance contracts can be set up, typically covering system monitoring and routine upkeep.
By performing regular maintenance and using the energy storage system optimally, you can ensure that you achieve the maximum savings while extending the life of your system.
Energy storage and sustainability: Reducing your carbon footprint
The use of energy storage systems not only helps to lower electricity costs but also has a positive impact on the environment. By integrating renewable energy sources with energy storage systems, businesses can significantly reduce their carbon footprint. Here are several ways in which energy storage contributes to sustainability:
- Utilizing renewable energy: By combining electricity storage systems with renewable energy such as solar energy or wind energy, companies can reduce their need for fossil fuels. This leads to a decrease in CO2 emissions, contributing to climate protection efforts.
- Support of government subsidies: In many countries, governments offer subsidies and incentives for companies that invest in renewable energy and sustainability. By using energy storage systems alongside renewable energy, companies can benefit from these subsidies, maximising both financial savings and environmental gains.
- Contributing to the energy transition: The use of energy storage systems supports the global energy transition by increasing the share of renewable energy in the grid. This is a crucial step toward a more sustainable and eco-friendly energy supply.
By investing in energy storage systems and using renewable energy, businesses can lower their electricity costs while making a positive contribution to environmental protection and driving decarbonisation.
Conclusion: The importance of electricity storage for companies and its role in reducing electricity costs
Reducing electricity costs is crucial for the financial sustainability of companies. Implementing energy storage systems provides an effective way to cut these costs while offering numerous benefits. By reducing peak demand, maximising self-consumption, leveraging financial incentives, and integrating renewable energy, companies can significantly lower their energy expenses.
Moreover, energy storage systems promote sustainability by reducing the carbon footprint and supporting the energy transition. Selecting and installing the right energy storage system requires careful planning and consultation, but the long-term savings and environmental benefits often outweigh the initial investment.
Invest in an energy storage system today to effectively reduce your electricity costs. By optimising your energy consumption and embracing renewable energy, you can achieve financial savings while also contributing to environmental protection. Take the first step toward a more sustainable and cost-efficient energy supply for your business now.
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