What is Energy Storage, and Why are Businesses Embracing It?
Facing rising electricity costs and access to incentives through energy market programs, today’s businesses are integrating energy storage to manage their exposure to the grid strategically.
Lithium-ion batteries and other forms of energy storage are capable of storing large amounts of electricity for consumption on demand. Facilities with on- site energy storage resources equipped with DER Optimization Software can automatically store electricity when it is least expensive and consume it when costs from the grid are most expensive.
Learn more about how businesses use energy storage with this video:
Minimize Electricity Costs and Maximize Demand Response Payments with Energy Storage
The ability to store and consume low-cost electricity on-demand can help C&I energy consumers reduce time-based costs, which can account for as much as 85% of total energy electricity spend in some markets, and earn payments through demand response and other energy market programs.
- Demand Charge Management: Reducing your facility’s peak grid demand levels will result in lower charges based on demand at certain intervals.
- Energy Arbitrage: Store low-cost power when prices are lowest and consume it at times when electricity prices and utility rates are highest.
- Demand Response: Earn demand response payments for reducing grid demand when called upon without shutting down equipment in your facility. Enel X offers access to more demand response programs worldwide than any other provider.
- Other Market Programs and Incentives: Capitalize on other regional programs offering compensation for distributed energy storage and solar-plus-storage projects.
- Pairing with Solar: Integrating energy storage can make new or existing solar projects more valuable, providing the ability to use that clean, low- cost power at times when it is most valuable.
- Improved Grid Stability: Improving your facility’s flexibility with energystorage helps to keep energy costs in control in your community and make the electric grid more reliable and sustainable.
- Backup power: Under certain configurations, energy storage can beincorporated into a resilience plan to provide backup power in the event of a grid outage.
Fully Financed, Turnkey Energy Storage Projects
With decades of experience helping C&I energy consumers capitalize on opportunities in the energy markets, Enel X will cover all required costs and take responsibility for installing and operating the assets so your organization can capture this value without committing to a capital investment.
Intelligent DER Optimization Software to Maximize Financial Performance
Enel X’s DER Optimization Software uses advanced machine learning techniques to learn your facility’s energy needs and automatically charge and discharge your battery assets at the optimal times to deliver the highest financial return possible. Your sites will experience no difference in energy consumption, but your electricity costs will decrease as if they did.
Costs are all taken care of by Enel X. The install is taken care of by Enel X. The monitoring is taken care of by Enel X. It’s a pretty user- friendly system, and I would suggest it to anybody who uses a large power demand and has to pay peak prices for energy.”
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With an industry-leading demand response business, best-in-class software, and advisory services, Enel X’s innovative, distributed energy projects maximize payments and energy savings for customers.
The system will support the local grid of New York energy company, Con Edison, in periods of high peak demand, ensuring service remains reliable.