7 Reasons why industrial facilities need energy storage
For most industrial facilities, power management is one of the most critical interest areas. Regardless of the size and scale of the company, the energy cost is often a daunting expense. Companies make all the possible efforts to mitigate the cost by exploring more economical options.
One effective measure in the present times is the installation of an energy storage system from experts like the EnerSys. It is gaining exponential popularity in recent times owing to its multifold benefits.
These systems provide greater control on energy distribution, provide critical backup to continue operations during outages, and save significant amounts on bills and charges. These also foster sustainable business practices by integrating renewables and contributing to environmental protection and restoration. Here are some reasons that propel the inclusion of energy storage in industrial facilities.
- Management of demand charges
The rate of power supply for commercial purposes is considerably higher than that for domestic purposes. On top of that, based on their peak consumption, industrial facilities often need to pay demand charges. The contribution of demand charges in the overall electricity expenditure can vary from 30 to 70 percent. You can strategically use the energy storage to draw power during peak hours and slash down demand charges significantly.
- Optimizing through load shifting
Load shifting is a technique to strategically utilize the usage of energy storage to curb electricity expenditures. A specialized algorithm analyzes the storage efficiency and consumption patterns. It determines the best time for charging and discharging the storage. The algorithm shifts the maximum load during the non-peak hours to draw the highest cost-saving potential of the storage.
- Power backup
This is the most straightforward benefit of power storage systems for every facility. It helps you fight the power outage which can be catastrophic if not handled efficiently. Some outages can take longer to recover and result in longer downtimes. Such outages can be expensive and cost you up to several hundred dollars. Power storage systems serve as insurance that prevents these losses by allowing seamless transition from the power grid to backup.
- Integration of renewable energy
Industrial facilities are increasingly installing and integrating renewable energy into their systems owing to their myriad benefits. However, they often struggle to utilize the power generated efficiently. Power storage systems ensure the most efficient utilization of your renewable assets. During the off-hours, these systems store the excess power generated and make your renewable venture profitable.
- Environmental advantages
Power storages offer multiple benefits that can make your facility environment-friendly. As discussed in the previous point, these allow efficient utilization of renewable energy sources. In addition to that, these systems provide an emission-free solution and also optimize the efficiency of power grids globally.
- Power factor correction
The fundamental purpose of power storage is to enhance the power quality and provide support during outages. However, you can draw other benefits like power factor correction by installing a full four-quadrant inverter. With the help of appropriate controls, you can reduce the low power factors and maintain the predetermined point for the power factor.
- Benefits in the merchant market
In addition to reducing expenses and maintaining operational uptime, power storage systems can also help you make extra revenue. You can bid on the available surplus power capacity or trade it for ancillary services as required.