18 Apr Battery Storage projects boosted by Capacity Market
The battery storage market is rapidly expanding and it’s not surprising. Battery storage is playing a major part in the transition towards a low carbon future.
The results of 2016’s winter Capacity Market auctions showed a significant shift towards battery storage and demand side response technologies. This is great news for the environment and great news for businesses. Battery storage has previously been viewed as an expensive option but the favourable results of the auction have proven that this is now a viable economic solution.
Benefits of Battery Storage
Battery storage allows you to store your unused energy from wind, solar or other means of generation. You then have options available for how to use that stored energy. This makes greater financial sense than selling unused energy back to the grid and having to buy it back later at a higher price than you sold it for.
There are also options for commercialising this stored energy. The Capacity Market is an excellent option. Last winter’s auction saw successful bids from many new-build battery storage projects. As such, interest and confidence in these technologies has increased.
STOR and Triad management are also areas which benefit greatly from battery storage. Releasing stored energy during triad periods or when there is a STOR requirement could reduce energy bills significantly and generate substantial revenue. Businesses are rewarded for being able to respond to demand.
There is also the opportunity for arbitrage. You can store energy when demand and prices are low and then sell energy when demand is high and prices increase.
Storing your energy and utilising it when you need it makes you much more self-sufficient. You have a reliable back-up supply when not enough energy is being generated or when there is a national power shortage. This reduces risk to your business operations.
N-ERGY can help you make the most of battery storage
At N-ERGY, we can provide full power demand management. Our expert project managers can install, maintain and manage battery storage projects for your business and help you utilise these to save on cost and increase revenue.
We are APM accredited which means that we have access all the best frameworks and tools for project management. This, coupled with our vast industry experience, allows us to deliver the most efficient and effective power solutions to our clients.
We’re one of the world’s leading power consultancy companies so you can have complete confidence that we’ll deliver the best energy solution for your business.
If you would like to find out more about the options for battery storage then contact our expert team today.