A powerful business case can be made for installing storage capacity to add to local power production resources. There are multiple benefits associated with being able to temporarily store power produced on site, including:
- Emergency power backup—Battery systems can act as a backup power source in the event of transmission grid downtimes. They could even act as the sole power source in remote areas which are not connected to the transmission grid.
- Grid stability—Battery systems can help stabilize the local grid whenever transmission grid power quality is below the required standard. This could be very important for process continuity, for example at industrial sites.
- Peak shaving—Batteries can help reduce peak demand and thus avoid peak pricing and the need to upgrade grid connections.
- Maximized auto-consumption—Battery systems can help maximize on-site consumption of locally-generated power, avoiding excess power being injected into the transmission grid.