More homeowners are wanting to power their lifestyles with renewable electricity sources like solar and wind, but they haven’t had access to feasible home energy storage solutions. Industry professionals have been working to change that.
Imagine a file-cabinet-sized residential battery that lets homeowners store energy to be used during periods when the sun isn’t shining or the wind isn’t blowing. There are many potential benefits that come with this emerging technology. It’s an innovative solution that is being designed to handle daily cycling and years of use, and it’s one that customers could best benefit from by working through their electric utilities.
Recently, there’s been a surge in lithium-ion battery production, which has helped drive down energy storage prices in some cases. Additionally, some utilities are shifting their gaze to mass energy capture. The overall goal has been to overcome the intermittency and variability challenges of renewables.
5 potential benefits of home energy storage for the future
- Move toward energy independence. As long as a home is powered solely by the grid, the homeowner is subject to charges and procedures beyond their control. With residential batteries, people can have more control over where energy comes from and how it’s used. This leads to greater peace of mind, especially in areas where brownouts or blackouts are common.
- Save on electricity costs. Homeowners can save on electric bills by consuming less power from the grid. This is largely because rates can sometimes be higher for power used during peak load times, such as in the morning and evening hours. Depending on where they live, some consumers might even get credited for owning a home energy storage system.
- Maximize power consumption. A residential battery would allow homeowners to store any electricity they don’t use, helping cut waste and maximize renewable investments.
- Keep the lights on during power outages. During these outages, owners could seamlessly switch to using stored battery power, keeping essential areas of the house running.
- Reduce greenhouse gas emissions. Power from the main grid comes from multiple sources, some of which can be fossil fuels. Using stored renewable energy is a great way to reduce one’s carbon footprint and be more environmentally friendly. Additionally, residential batteries could help utilities meet renewable goals more easily.