#TIL: The “What” and The “Why” of “Energy Storage”
Energy storage is an emerging technology that efficiently integrates renewable energy with the existing grid. Renewable sources of energy like solar and wind produce power in an intermittent manner which adversely affects the grid operations. In order to balance this intermittency, energy storage technology is used where the batteries store the excess power generated by renewables and feed them into the grid based on the capacity and load requirement. This helps the grid in balancing the load and contributes in meeting the electricity demand during peak times. Energy storage provides a tailored solution to store the excess power generated by renewables and use it when it is needed the most.
Watch the video to understand how energy storage works.
Why is Energy Storage important for the EV sector?
The following are the benefits of Energy Storage technology which will boost the EV sector.
- Energy storage technology as a support for the EV charging infrastructure
Multiple EVs charging at the same time could put stress on the grid. Energy storage technologies can help the EV charging infrastructure by removing this impact on the grid through the usage of stored energy. This also enables greater penetration of renewables in powering the EVs, making the entire EV value chain clean.
2. Repurposing EV batteries as second-life batteries
The end-of-life EV batteries maintain between 70–80% of their initial capacity. This gives a scope to repurpose EV batteries for energy storage applications thereby maximizing the value of the battery. This will not only give an opportunity for OEMs (both vehicle and battery manufacturers) but also EV owners to reclaim a part of their initial investment in the EV battery, thereby reducing the lifetime cost.
3. Vehicle grid integration
Vehicle-to-grid integration technology mutually benefits both the electric power system (grid) and the transport system. Here the batteries in EVs (when not in use) can act as storage systems and solve grid management issues of managing and balancing electricity load. Studies have shown that the average utilization of privately owned vehicles is 5%. This means that the average battery on wheels is underutilized for the vast majority of its life. This battery can be used to the fullest by storing surplus electricity that will be fed back into the grid when necessary.
Today I learnt (TIL) is a weekly series by OMI that brings you interesting nuggets of information that you didn’t know you needed.
