We begin discussing the advantages of solar batteries by introducing key terminology and its relation to solar batteries.
Every electricity bill has two main parts, energy charges, and demand charges. The energy charge is a set fee that customers pay every month for electricity services. Demand charges are the fees that a customer pays for the peak amount of power drawn from the grid during peak hours. When your home is utilizing energy but your solar panels are not generating much power, you draw power from the grid leading to demand charges. Batteries can come in handy in these situations, instead of drawing power from the grid power is pulled from the excess power stored in the battery.
According to the Federal Energy Regulatory Commission, "Demand response is an electricity tariff or program established to motivate changes in electric use by end-use customers, designed to induce lower electricity use typically at times of high market prices or when grid reliability is jeopardized." Simply put, demand response programs incentivize customers to reduce electricity use at the request of utilities. A lot of money can be saved during times where utilities request lower power consumption from customers by using the energy stored in batteries.
Frequency regulation, sometimes referred to as area regulation, occurs when a utility requests battery owners to inject power into the grid or take power from the grid to help the grid maintain a stable frequency. When battery owners do this, they utility compensates them for their service.
Load shifting is a technique used by consumers as a way to manage their energy consumption and save money. Load shifting is the process of changing the time of energy consumption. For example, doing laundry at night to take advantage of off-peak energy prices. You can use your solar panels to charge a battery during daylight and use this stored power at night to prevent drawing power from the grid during peak energy prices.
According to a recent study from Stanford University, storing excess power from solar PV makes a lot more energy and economic sense than storing excess power from wind turbines. In a recent study published in the Journal of Energy and Environmental Science, four researchers concluded that NOT storing the excess power from solar is curtailing the actual potential of solar technologies.
For many years, solar PV was only economically sound if the maximum electricity load occurred during the day when solar PV produces the most power. However, most homes experienced their maximum electricity load during the night when everyone is home. Fortunately, advancements in solar batteries and policy changes are helping solar technologies overcome this hurdle.
Changes in Policies
Programs like Net Metering and Feed-in Tariffs are policies that allow homeowners to sell their excess solar power to their utilities. However, these policies have not been adopted nationwide as utility companies often lobby against their adoption Since these companies profit from selling electricity, buying back electricity from their customers is not always in their best interests. Homeowners who can't participate in these programs would benefit from storing their excess power and using it during peak hours rather than selling it back to their utilities for credit.
Recently, there have been many improvements done on the chemistry behind solar batteries. Batteries are now able to have a higher energy density in smaller and lighter batteries. The deployment of electric cars has also had a significant contribution to storage systems. Batteries are becoming less expensive, smaller, and safer. The price of lithium-ion batteries dropped almost 90% between 1990 and 2005 and has continued to drop since.
Extreme Environmental Conditions
Recent frequent natural disasters like hurricanes and earthquakes are causing a surge in demand for grid-independent energy systems, specifically back up power.
As we move forward with technological advancements it is important to start considering and imaging a decentralized energy infrastructure where every home can generate and store their own energy. If you want to learn more about solar power and solar batteries feel free to give a call at 1-877-375-1917 or contact us here.