Business

The future of energy storage in businesses

posted by Chris Valentine

With the arrival of the Powerwall, the future of energy storage looks bright

When it comes to running a successful business, there are many different things that a company has to bear in mind or work toward. Sadly, it often seems that many of these goals stand in stark contrast to each other, which makes it pleasing when a company is able to achieve some goals in a single decision. Firms want to create the best identity and image for themselves, but they also want to save money and develop working practices that can remain in place for many years to come. There aren’t many ways to combine all these aspects, but the future of energy storage in businesses is an area where smart firms can see a positive impact on their business.

There is a wide range of benefits and reasons to switch to a more renewable source of energy, including:

  • Installing a more secure energy supply because traditional energy sources and fossil fuels will not last forever

  • Creating stable energy costs because there is less fluctuation in the price of renewable energy sources

  • Playing a part in supporting the environment and being seen as an environmentally friendly business

  • Significantly reduce your business’ carbon footprint

  • Being ready for the future when these sources of energy will be more common place

  • Taking advantage of any allowances, subsidies or benefits provided by governments concerning energy efficiency schemes

For many companies, the fact that switching to more renewable sources of energy can have a more positive impact on how much money a company spends on energy is all the incentive they need. All companies should be looking for ways to cut costs without compromising on quality or service, and a more affordable yet reliable energy source can provide this. The fact that there are so many other benefits associated with moving to renewable sources of energy ensures that many companies are considering this switch or are already taking action.

A company that can store energy can save considerable money

It stands to reason that a company that can produce energy, using solar panels or by utilizing wind farm technology, will be able to save money on energy consumption. This is something that all firms can benefit from, but for a company looking to be self-sufficient, there is a need to store the energy that they create. Energy usage is not a constant, it encompasses many peaks and flows, which is why there is a need to be able to store the energy and ensure that no matter the demand, there is a suitable supply of energy.

This is the area where renewable energy solutions in business need to improve and develop; however, there are signs that indicate that manageable storage solutions are within the reach of companies around the world. This is important because if a company is able to effectively harness the benefits of renewable energy on site or in their local area, they will find that their business benefits in a great number of ways. There are even firms who would be able to generate all of the electricity they need and have enough left over to sell to energy providers and make a profit. For many firms, this would be a key aim because it would see them making money from energy as opposed to the current situation where payments to an energy supplier represent a significant output of the company.

There are already solutions available to provide companies with an Uninterruptible Power Supply, or a UPS, which is highly beneficial for those that cannot afford to deal with brownouts or blackouts in the electricity network. Battery based storage solutions are available but may not be the most cost effective energy storage solution, which is why there is a need for more effective systems. There is a great range of work being undertaken in this field, with the efforts of Andrea Rossi being highlighted by many professionals in the sector as a way that may allow companies to better harness the capabilities of renewable energy sources.

Given the recent changes and developments in the supply of energy, it is no surprise to see many firms looking to the future with optimism and confidence. A company that can take advantage of developments in renewable energy and store for their own requirements will save money while improvising their brand and identity to their audience. When these benefits come with no compromise in quality, it is easy to see why so many companies are looking to the future of energy storage as being a huge factor in the development of their business.

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