Batteries are a key technology
Energy storage devices are now basic components of a growing number of modern-day devices – and much more besides. Indeed, from waking up to the alarm on a smartphone, to working on a laptop and driving home in the evening in a hybrid or fully electric vehicle, it would be tough to perform many of our daily tasks without the lithium-ion battery.
In 2019, Akira Yoshino, Stanley Whittingham, and John Goodenough were awarded the Nobel prize in Chemistry “for the development of lithium-ion batteries,” in recognition of the central role the products have assumed in our lives.
Technology has turned today’s smartphones into TVs, books, organizers, heart rate monitors, as well as communications devices. Electricity is what powers all of these features, but without batteries, we’d be perpetually stuck next to a power socket.
Electricity is central to modern life
Combining batteries with smart management
Battery Energy Storage Systems (BESS) are platforms that couple the energy storage capacity of batteries with the software needed to deliver advanced management of energy consumption by harnessing AI, Machine Learning and data-driven solutions. This is how batteries can offset climate change, foster the development of renewable sources, to help reduce carbon emissions and even deliver lower costs for businesses and households.
The operating principle is straightforward. Batteries receive electricity from the power grid or straight from the power station and subsequently store it to then release it when it is more convenient, while the software manages the charge and discharge cycles based on real-time needs and availability.
A far-fetched solution comes of age
For a long time, the idea of stockpiling energy as a way to carefully manage its use only when really needed was regarded as far-fetched. Constant innovation and the brainpower symbolized by the three Nobel winners set the stage for the emergence of cutting-edge systems like BESS.s These unleash a wide range of solutions for efficient and sustainable energy use that deliver economic and environmental benefits.
Today, renewable energy production is no longer tied to the immediate availability of sunshine and wind, as it can be managed efficiently by using the electricity generated in low-consumption periods and storing it when renewable sources are available, while energy demand is lagging behind.
Hence, this is a way to increase the penetration of renewable sources in the electricity grid by removing the obstacles related to intermittent generation.
Energy storage systems can also address the energy consumption management of households, whole neighborhoods, small businesses, and large factories. By stockpiling energy based on specific needs and releasing it only when needed, energy waste, dispersion, and costs are all reduced.