Benefits of a Solar Energy Storage System
A solar energy storage system is a powerful addition to any home or business. The system’s inverter converts DC power from the solar panels or batteries to AC power for use in your home.
Solar-plus-storage enables better savings for homes that are billed with Time-of-Use rates, and protects the pocketbook from utility rate hikes. It also enables greater energy self-sufficiency and resiliency.
1. Reduced Electricity Bills
When combined with storage, solar can help reduce electricity bills by lowering peak demand charges and providing backup power during grid outages. Additionally, some utility companies offer incentives to support solar + storage adoption. These incentives stack with the federal tax incentive, further increasing your savings.
Energy storage systems help homeowners save money by reducing the amount of electricity they consume from the utility during periods of high demand, such as at night or on cloudy days. This can also help avoid time-of-use rate tiers, which increase your electricity cost at certain times of the day.
In addition, a battery system can store the excess energy generated by your solar panels and save it for later use. It can be used during these high-demand periods, helping you avoid paying expensive time-of-use rates, or it can be saved for off-peak times to lower your electricity bill even further.
When paired with solar, storage can also reduce demand charges, which are imposed on commercial and industrial facilities based on their peak energy usage during 15-minute intervals throughout the day. These charges can account for up to 50 percent of a facility’s total electricity bill. Storage – especially when combined with solar – can help reduce demand charges by tracking and dispatching stored energy to meet the load during these peak periods, effectively flattening the load profile.
2. Increased Energy Self-Sufficiency
Solar energy storage systems help increase your energy self-sufficiency by allowing you to store the electricity generated by your solar panels, so that you can use it at night and during power outages. This can save you Solar energy storage system money in the long run by decreasing your reliance on the grid electricity companies and making you less susceptible to their rate increases or prolonged power outages.
Solar battery systems are the most common type of storage paired with solar systems, and they’re also the most affordable option because their price has dropped significantly in recent years. They are ideal for capturing and storing energy produced by solar photovoltaic (PV) systems, managing evening demand and electricity prices through arbitrage, mitigating the risk of curtailment, providing backup power and more.
Energy storage can maximize PV self-consumption by allowing you to consume the energy your system produces at times when it’s most useful, such as during the day and in the summer, when there is a surplus of energy. It can also provide additional resiliency during extended periods of peak energy consumption or grid outages, by shifting the time when you consume the most energy from expensive time-of-use rates to low demand hours.
This study examines the use of a polyvalent heat pump, water storage tanks and batteries to improve PV self-consumption and energy self-sufficiency. Annual hourly thermal loads for heating and cooling are modelled together with annual solar production data, using TRNSYS software. Different storage sizes are tested to examine their performance and feasibility in a community setting.
3. Increased Peace of Mind
Energy storage systems allow you to collect and save energy that would otherwise be lost when the sun goes down or on cloudy days. When paired with solar panels, the system can also provide backup power during utility power outages. This adds to the overall energy independence of your home and further reduces electricity bills.
In addition, if your Arizona utility has time-of-use rates or demand charges, the battery storage system can help you reduce these fees by storing energy during peak times. This is especially beneficial in the summer when demand is high.
Energy storage systems are available in a range of capacities, based on your energy usage and budget. The key is to look for a battery with a high useable capacity, which indicates the amount of power you can draw from it. The higher the useable capacity, the longer you can go without needing to replenish the battery. This gives you peace of mind in knowing your energy needs are met – even during those unexpected power outages. Energy storage is the ultimate solution for providing you with energy independence, saving money on your electric bill, and reducing your carbon footprint. The best way to achieve this is by combining a solar installation with a battery storage system from a trusted local company like Solar Gain. Contact us today for a free consultation to learn more about how a solar energy system with battery backup can benefit you.
4. Emergency Backup Power
The last big benefit of solar energy storage is the ability to use your battery as backup power in case of a grid outage. Depending on your home size and energy needs, this can be a very important feature to have in place, especially if you have family members who live with special needs or elderly people living at your home.
In addition to providing emergency backup power, batteries can help smooth out variations in solar energy production caused by weather or other factors. They can also be used to earn rebates and credits from your utility company by practicing “peak shaving,” using your home battery to reduce electricity demand during high-priced times, like late afternoon and early evening.
There are several different types of solar energy storage systems available on the market today. Some are co-located with, or integrated into, a solar system, while others stand alone. The most common types include Solar energy storage system lithium-ion, nickel-cobalt and flow batteries. Each has its own unique features and applications.
Most solar energy storage systems have a maximum energy capacity of 10 kilowatt-hours. While this may be enough to run basic appliances and tools during a power outage, it is important to understand your specific energy requirements and discuss this with your installer to determine how much capacity you need.