How can businesses use energy storage to reduce the impact of power outages?

In simple terms energy storage is a device which store power, this power then can be used when there is less generation available. It's simply like a water tank where you store water and you use it when you need it. Now storage can be of many types like the chemical storage where the power is stored in the form of chemical which we called the battery storage system, pump storage system where the power is saved in the form of potential energy etc.

Demand Charge Management: Energy storage helps businesses optimize energy consumption by discharging stored electricity during peak demand periods. This reduces demand charges, which can significantly contribute to lowering overall energy bills. Cost Savings: Through peak shaving, businesses can reduce electricity costs associated with high-demand periods. Energy storage allows for load shifting by storing energy during low-demand periods and discharging it during peak hours, taking advantage of lower prices and avoiding peak rate charges.

Before investing in energy storage system it is important to analyse your power consumption and your contracted demand so that you can understand for how many hours you will be needing the storage system to store the power. After doing this technical analysis you have to do some financial analysis, try to understand which kind of storage system is best suited for you, find the capital cost and operation and maintenance cost required. So doing the complete analysis of your system you can find out that which technology suits you.

Actually, with battery prices decreasing significantly and intra-day volatility increasing due to a higher share of renewables in the system, most battery investments will pay for itself. It's in everyone's interest to have batteries automatically charge when power is very cheap and discharge when power is expensive