A growing body of data suggests that electricity storage will become the main means of ensuring the flexibility and stability of the power system. This is particularly important in the context of the growing dominance of non-renewable energy sources such as solar and wind energy.
Efficient management of the energy system with an electricity storage tank
The use of an electricity storage tank together with a solar power plant brings tremendous benefits and solutions for the efficient management of our energy system. In periods when a solar power plant produces more electricity than we currently need, the electricity storage makes sure that we do not lose this energy.
A new analysis by Wood Mackenzie predicts that the combination of wind and solar will dominate Europe's largest markets in the near future. Progressive state auction programs will make it possible to reduce the cost of this technology, which will accelerate its development and increase its use. In Europe, 169 GW of new wind and 172 GW of solar power plants are expected to be installed by 2040.
The challenge of balancing deviations in the power system
The growing volume of intermittent energy production poses a challenge for Europe to balance the discrepancies in the electricity system. Therefore, electricity storage, along with interconnections, will play a key role in ensuring the flexibility of the system.
Rory McCarthy, chief analyst at Wood Mackenzie, warns that by 2030, electricity storage will already be more economically attractive than gas-fired power plants. This will have a significant impact on the future of peak energy production. Fossil fuel and carbon prices are rising, while the cost of energy storage technology is decreasing. In addition, net-zero emission policies set clear guidelines for decarbonising electricity markets. Gas without emission reduction technologies is likely to be the next target of regulators, as it is already being pushed out by market forces.
The inclusion of electricity storage devices in the power system has many advantages.
The electricity storage system ensures the stability and reliability of the electricity supply, while contributing to the reduction of greenhouse gas emissions and the protection of the environment. They reduce dependence on non-permanent renewable energy sources, as they allow the storage of excess energy produced during periods of high solar or wind activity. This means that solar power plants produce more electricity than the grid or users currently need.
Electricity storages allow excess energy to be stored and used at times when solar energy production is limited or when electricity demand is high. This achieves a balance between supply and demand and reduces the need for other energy sources, such as traditional fossil fuels.
With electricity storage for greater independence from the grid
In addition, the use of an electricity storage unit in combination with a solar power plant allows greater independence from the grid. The ability to store energy allows electricity to be used even when the solar power plant does not produce energy, such as at night or on cloudy days.
In addition to the reliability of electricity supply, electricity storage devices also bring financial advantages. Reducing dependence on traditional energy sources such as fossil fuels also means reducing energy supply costs in the long run. Electricity storage systems allow solar energy to be used to the maximum extent possible and reduce the need to purchase energy from the grid at higher tariffs.
Electricity storage helps to improve the return on investment in a solar power plant
This means that by installing a solar power plant in combination with an electricity storage tank, a company can become energy self-sufficient and generate savings in electricity costs in the long run.
Which electricity storage system is best for your business?
This depends on a number of factors: the existing electricity generation system, the amount of electricity produced, the consumer's own consumption profile and the type of use.
At Geo Energy, for each company, depending on specific factors, we prepare an offer based on a preliminary simulation of the calculation of savings. We help you accelerate the energy transition— everything from calculating the savings and required power of a solar power plant combined with a storage tank, to obtaining consent and preparing project documentation and building a PV system with a storage tank.
For NON-BINDING CALCULATION WITH SAVINGS SIMULATIONwhen using the most suitable electricity storage device, write to: info@geoenergy-group.comor call 070 511 425.
