Mainstream energy storage solutions - benefits, forms and applications

The world’s need for energy is increasing at an alarming rate with more demand for all forms of energy on the rise. It is prudent now more than ever that we find better and more efficient energy storage solutions to serve this growing need.

Energy storage solutions are needed for numerous applications across every field from domestic use to commercial and industrial applications. In this article, we’ll be delving deep into the benefits, forms, and real-world applications of energy storage solutions.

What are energy storage solutions

Energy storage solutions are a compilation of methods, systems, and technologies used in the storage of energy. These storage systems store the energy in whatever form it may be, making it readily available for later use in several applications. These storage solutions are commonly used in storing renewable energy such as solar and wind-generated energy. They are also applicable for use with grid power storage.

Energy storage solutions are there to make energy available whenever conventional forms of energy supply are no longer available or reliable. Although energy is available in several forms including chemical, electrical, kinetic, heat, and others, with storage solutions all these various forms of energy can be stored and used when the need arises.

Importance of energy storage solutions

The importance of energy storage solutions can not be overemphasized as they can make a huge difference in both the availability and usage of global energy options. With the right kind and number of storage solutions, there can be a drastic reduction in energy demand, cost, and availability as well. It could mean energy would be available to populations, and periods that were previously unattainable.

Benefits of energy storage

Undoubtedly, there are numerous benefits to using energy storage solutions as the advantages of storing energy for future use far outweigh any disadvantages that might exist. Some of these benefits include;

Saving cost:

Storing energy in any form to be used later is a great way to save operational costs across the entire grid including cutting the cost of electricity bills for consumers as well. When energy is stored, consumers can simply opt not to use grid electricity for a period, using low-cost energy storage solutions instead which will definitely reduce the total cost of electricity.

Provides backup:

It is no secret that grid power can sometimes be unreliable and having some energy storage solutions is a great way to provide backup in the event of a blackout or power outage. This stored energy can serve as backup power from small-scale domestic use like UPS lithium battery and rechargeable batteries to bigger commercial applications like heavy-duty energy storage facilities that can provide stored energy for entire buildings and cities.

Multiple energy resources:

The presence of energy storage solutions makes it possible to store energy from multiple power sources. These sources could be Solar energy, Wind turbines, Hydropower, Chemical energy, or grid power. Whichever it may, storage solutions make it possible to store all these different forms of energy in ways that were previously not possible, making them available for future use.

Reduce environmental impacts:

The use of energy storage solutions provides the option to not rely on the power grid at all times. This means instead of relying on fuel generators that release harmful greenhouse gases during blackouts and power outages, a simple battery could be used instead. Supplementing storage solutions for other forms of power supply will drastically reduce the need for reliance on environmentally unsafe forms of energy supply.

Increases efficiency and capacity:

The use of multiple energy storage solutions not only saves energy but improves the capacity of the grid as stored energy can also be used alongside the grid, effectively improving the overall capacity. There is also an improvement in the efficiency of the grid: more available power equals increased power supply as well.

What are the 6 different major energy storage solutions of energy

While energy storage solutions are a broad concept that engulfs numerous sub-topics, there are different methods in which these storage solutions are made available. Some of these methods are more common than others while some are only applicable in particular uses. There are 6 major energy storage solutions which include;
● Lithium-ion Battery Storage.
● Pumped Storage
● Lead-Carbon Battery Storage
● Compressed Air Energy Storage.
● Full Vanadium Flow Battery Storage
● Sodium ion Energy Storage.

Evidently, some of these storage methods are more widely used and applicable than others.
For instance, wide adoption, usage policy, governmental regulations, and the overall safety of Lithium Ion Battery storage make it the most widely used method on the list. Lead-carbon battery storage also finds a wide application in heavy-duty industrial applications and use where heavy machinery is concerned.

The other methods like Compressed air, Pumped storage, Full Vanadium, and Sodium are sparsely used and are only applicable in special cases and locations. For instance, compressed air is only applicable in areas with high wind for air storage while Pumped storage makes use of water pressure to generate electricity. These are all valuable methods of energy storage but the most widely used and applicable method remains the battery storage method.

What is the most efficient storage of energy

As mentioned earlier, Batteries remain the most efficient and widely used method for energy storage solutions. This is because batteries offer a much more convenient form of energy storage compared to other methods and this includes things such as portability. Batteries can be offered in portable forms that can be used anywhere and doesn’t require any special conditions for them to function except for charging rechargeable batteries. Batteries are also more efficient and reliable as they can be mass-produced and made available in different shapes and sizes.

Batteries are also much more applicable compared to other storage methods with the 3 major applications being;
Energy storage: The primary function of batteries is to store energy in whatever capacity, making it available for use later.
Power: While batteries are made primarily to store energy, they also serve as power sources, disbursing stored energy whenever it is required.
Rechargeable: Unlike other energy storage solutions, batteries are rechargeable and still remain in active use for long periods of time. With more efficient batteries with 3C Consumption, charging has become faster and more reliable with reduced power consumption.

Mainstream energy storage battery solution

As the major energy storage solution, batteries have become more mainstream than any other battery solution offering a wide range of applications and devices now in use. Batteries come in different shapes and sizes but also as different storage devices some of which include;
Powerwalls, UPS systems, portable power stations, rechargeable portable batteries, solar inverter batteries, wind turbine batteries, and many more. These battery applications all function in the same way as they store electrical energy to be used later when grid power is no longer available or preferable.

What is the most popular battery for energy storage

Even though batteries remain the most preferred form of energy storage there is also a preferred type of battery for energy storage solutions as well and that is lithium-ion. Lithium ion batteries remain the best and most recommended battery type because they offer a wide range of advantages over other battery types, some of which include higher energy density, larger capacity, higher size-to-power ratio, higher cycle life(up to 5000), requires zero maintenance and is environmentally friendly. They are also cost-effective seeing as how they can last for up to 10 years under normal usage conditions.

Lithium batteries also offer a wider range of applications than most battery types as they can be used as storage solutions for different energy applications. Some of these applications include use as home storage systems, solar and wind energy storage, large-scale industrial power stations, portable power stations, energy storage for electric vehicles, and many more.

Who are the leading energy storage battery company

There are numerous companies that develop and manufacture the cells that make up each battery pack as well as other energy storage alternatives. These companies produce energy storage solutions on a mass scale and make up the primary part of the energy storage production chain.

There are currently 5 top companies that lead the energy storage solutions industry around the world and they include;
●TESLA
●SONNEN
●SOLAR EDGE
●LG
●BYD
These companies produce battery cells, home energy storage systems, photovoltaic systems for solar inverters, renewable energy solutions, electronics, automotive energy storage systems, and much more. These companies are diversified in the energy storage industry and their products make up the majority of those found on the market.

How to choose a good energy storage solutions company

When choosing a good energy storage solutions company there are a few things you should always consider as it would determine the quality of the product you purchase. One major thing to consider is the expertise and experience the company has and how long they’ve been in the business. This would prove how well the company knows the product and the technical staff and knowledge they have.

Another important aspect is the range of customers the company has as this would prove how trusted their products are. A good odm lithium ion battery pack manufacturer with good quality energy storage solutions would have a wide range of customers across the world. These customers would leave reviews attesting to the high-quality products and delivery services the company has. The company should also have up-to-date energy storage equipment, professional staff, and good customization services to deal with the different demands of customers.

FAQs

What are the new type energy storage

Energy storage is very important as the world moves into a complete digital age where every major industry relies on electrical devices to function. These energy storage solutions would greatly reduce the cost of operations, reduce greenhouse gas emissions and improve the focus on renewable energy.

There are currently new type energy storage that provide highly efficient energy storage solutions including electrochemical energy storage, compressed air energy storage, flywheel energy storage, etc., most notably lithium batteries. These batteries are not only rechargeable but have high energy density, capacity, long life span, and are cost-effective.

Are lithium batteries the future

Lithium batteries still retain the top spot as the most efficient and recommended energy storage method in use. They are a great choice for any energy storage project and still maintain the lead over other technologies in performance, durability, and cost-effectiveness. When looking at the future of energy storage solutions, lithium batteries still show the greatest potential for effective energy storage.

What is the cheapest option to store energy

Batteries are still the cheapest option for energy storage solutions. Lithium batteries in particular remain the most cost-effective option for energy storage, making them the cheapest option in the long-term. Compared to other energy storage options, lithium has a relatively high initial cost but looking at how long lithium batteries last with high efficiency, the price is compensated for in the long-term.

Which countries are deploying the most energy storage

Countries all over the world are making efforts to improve their energy storage solutions by investing heavily and improving policies that will enable companies in the industry to grow. The U.S. is currently the world’s largest energy storage market, while China may overtake the U.S. as the world’s largest market as early as 2025.India will grow rapidly and become the third largest market by 2030.Other countries in the top ten markets include Australia, Germany, Rest of Europe, Japan, UK, Latin America and Italy.

Which countries’ energy storage demand surged

In recent months, the war between Russia and Ukraine has drastically affected the global demand for energy storage. This is mainly because Russia remains the largest supplier of energy to most of Europe and other parts of the world. This has greatly affected countries in Europe with prices for energy surging more than 400% compared with last year’s prices. Countries like France and England have experienced significant surges in energy prices over the last few months and the crisis shows no signs of slowing down.