Future-proofing the grid with large-scale electricity storage

Electricity is crucial in our lives, we use it to power our houses, schools and companies. Nevertheless, this same electricity we use is not always readily available at hand. This is where large scale electricity storage is used. Companies such as BOX-E provide energy storage for our use when needed. With large batteries and various other storage methods, we are able to assure a strong and reliable grid. This is a crucial step towards a reliable future energy supply. 

How large scale electricity storage can change the energy market for wholesale buyers? 

Large scale electricity storage can revolutionise how electricity is bought by wholesale buyers. Traditionally, a buyer has had to 'take' electricity when it becomes available. This often leads to waste. However, large scale systems like those of BOX-E can store energy for future consumption. Therefore, during times when renewable sources produce large amounts of electricity (e. g. Sun shining or wind blowing), excess electricity can be stored to power systems during cloudy days or windy, cold times when more electricity is used. This reduces prices by making it unnecessary for buyers to scramble to purchase energy when electricity demand is high. It is rather like purchasing snacks when food is cheap, and eating them when you are peckish, to avoid the increased price of purchasing food when you have to get it straight away, at peak price. 

Also, the storage systems allow buyers greater flexibility; they are able to purchase energy when prices fall, thereby filling up their storage units, and then utilize these when prices are high, instead of buying at high prices and spending more money. The money saved could also benefit other areas of the business, thus helping to save more money. Another benefit this creates is that the energy market will become more competitive as everyone now has access to a reliable and predictable form of energy which, it is hoped, will lower the price of energy further, benefiting us all, including families and smaller businesses, as well as the environment. A competitive energy market would be able to reduce the current price that all electricity is bought at, therefore being more cost-effective for both wholesale buyers and for the consumer, benefiting the public by reducing the current high price of electricity and aiding the environment, at the same time as creating a fairer energy market, all by use of electricity storage systems provided by Box-E, the advantages of this should, with regard to the energy market, be clear and understandable to all relevant participants. 

Where to find the best solutions for large scale electricity storage in wholesale markets? 

It is important for large scale storage to be used within the energy market for it to reach its full potential, BOX-E, along with many other companies is able to provide custom solutions for storing large amounts of energy, for delivery when required. When shopping for storage, one should consider how much energy it can hold and the rate at which it can be dispatched. The quickest charge rate can prove very useful when storing peak electricity from solar energy and it may be necessary to acquire a solution with a rapid recharge capacity to take benefit of the opportunities in peak production. 

Other considerations are, in what capacity and where the energy will be needed to avoid energy loss during transfer and for different situations, different energy storage types have varying efficiency and this should be taken into account when deciding upon which system to choose, if the system will be located somewhere with a high prevalence of sunshine, perhaps there would be benefit in using energy storage system designed to capture solar energy. BOX-E's systems work well with many renewable sources so the choice depends more on where they will be used. This is very similar to selecting an adequate school bag; there are many options available, you will require the best and most appropriate for you and your items. The integration in the market will have to occur for the storage systems to become affordable. If companies have sufficient faith in the ability to efficiently provide energy via storage methods, the energy market for wholesale customers could become much more competitive and allow access to a wide range of alternative energy sources from BOX-E. 

How to leverage large scale electricity storage for competitive wholesale pricing? 

Large scale electricity storage is a powerful tool that could be used to reduce electricity prices within the wholesale market. Wholesale electricity prices are the prices that wholesalers and consumers such as businesses and cities pay for electricity before it gets to our homes. By storing electricity when prices are low using large storage units and discharging it when prices increase, companies such as BOX-E could be able to buy electricity cheaply, and sell it at a higher price to consumers. This can stabilize electricity prices and reduce price fluctuation as the surplus of energy captured when electricity prices are low during periods of high generation (e. g. Sunny days when solar) can be discharged during peak times, thus increasing the overall efficiency of supply. In these cases electricity is stored and used during the times when it is most needed and electricity is more expensive, but by utilizing the energy stored by Box-E the price is stabilized, thus reducing electricity costs to homes and businesses. With a more stable electricity market, suppliers will become less reliant on the wholesale market, as they will have storage that can dispatch electricity when demand exceeds current supply from electricity suppliers, and these can then become more affordable for everybody in the economy, including families and smaller businesses and companies that benefit from lower electricity costs. This can make energy more affordable, increasing availability and sustainability and allowing a system that is good for the consumer and also for the environment. This can create a win-win for Box-E by enabling them to sell energy to more customers with less fluctuation in price, allowing greater revenue. This shows that using large scale electricity storage can be a beneficial system in both an environmental and economic sense. 

How does large scale electricity storage enhance renewable energy integration for buyers? 

Large scale electricity storage is a key element for renewable energy integration due to the intermittent nature of many renewables such as wind and solar. While they are highly environmentally friendly and clean, both sources rely on variable and unpredictable environmental conditions which may lead to limitations in the generation of renewable energy for power. This means that a constant stream of renewable energy cannot always be guaranteed to be available for consumption when it is required. For example, solar panels produce little or no electricity when the sun sets and wind turbine capacity reduces or becomes nil when there is no wind, causing fluctuations in supply. Thus, using large scale storage systems, it is possible to overcome these difficulties. By implementing systems like those from BOX-E, renewable energy sources will be able to efficiently store and supply electricity when needed, irrespective of these fluctuating environmental conditions. Wholesale customers will have greater confidence in renewable energy sources due to the reliable and consistent stream of electricity that they would receive. Additionally, the usage of renewable energy will be able to further increase the sustainability of our power system by reducing the reliance on fossil fuels which are harmful to the environment. Lastly, the storage systems will add an additional security and reliability feature to the power system which can be critical in emergency situations such as extreme weather events that could cause a power outage. 

What are the latest innovations in large scale electricity storage for wholesale applications? 

Large scale electricity storage is one of the most exciting sectors in energy currently, with the innovation in technologies available always growing. This allows the improvement of systems currently available from companies like BOX-E to the extent that they are highly efficient, cheaper, and much more beneficial. One key area of innovation which is crucial for large scale storage is battery technology which is continuously developing to become larger, more effective and long-lasting with advances being made in the charging and discharging cycles for each battery. One particular type of battery which has proven itself effective is the lithium-ion battery; this is used in numerous devices today and will continue to develop. Researchers are currently looking into flow batteries to try to store energy in them for much larger amounts of time than typical batteries so as to allow storage for longer periods and periods of prolonged low energy generation from renewable sources. Another area of innovation is technology in smart grids which can ensure that the energy within the large scale electricity storage is dispatched when necessary, to minimize the loss of energy while ensuring that power supply to our homes and businesses is never compromised. Another idea currently being considered is the reuse of old electric car batteries that have reached the end of their life. These batteries are often still able to store significant amounts of electricity, therefore being suitable for further use. Combinations of renewable energy generation alongside large scale storage also prove to be a popular way of creating fully sustainable and cheap systems for energy generation; the addition of large scale storage allows renewable sources such as solar panels to contribute to the energy supply constantly. The development of such technology indicates future availability of more affordable and sustainable systems which is also an important aspect of the future of energy.