Battery energy storage systems (BESS) allow for flexibility and continuous energy availability despite the intermittent nature of renewable energy. These devices store energy from the power grid or renewable sources for future use and to balance the grid’s load—this concept of banking energy when demand is low and releasing it when demand is high is known as peak shaving.
It is the ideal time to take advantage of BESS. Government incentives like the investment tax credit (ITC) now allow stand-alone systems to receive the 30% credit where previously, BESS was required to be connected to a renewable generation system to acquire the benefit. Demand for BESS is also rising in California, the Southwest, Texas and recently, the Midwest and Mid-Atlantic regions, with its projected global market value reaching between $120 billion and $150 billion by 2030.
The technology behind BESS has and will continue to develop and improve. For instance, many battery storage systems currently use lithium-ion batteries, a high capacity and high energy density option with a long lifespan and minimal maintenance. Costs for these batteries have tremendously reduced due to years of development in the cellphone and laptop industries. However, they are not the only option. There is current research being done for sodium-ion batteries, which should bring down BESS costs further once the technology is perfected.
Apricus is capitalizing on the benefits of BESS, and we invite you to join us. Our projects involve both standalone systems and those coupled with renewable energy, giving us multiple avenues all leading towards success with BESS.
