Transforming the Energy Industry: The Rise of Energy Storage-as-a-Service

"Energy Storage-as-a-Service (ESaaS) will be as transformative for the future of energy as cloud computing has been for data" (Me).

There have already been a lot of improvements in how different energy storage technologies are used in businesses and homes, and it's likely that we'll see a lot more of these kinds of improvements in the future. The energy sector is undergoing yet another industrial revolution as a result of advancements in technologies for the storage of renewable energy as well as distribution of energy. And being a part of the worldwide movement that is turning ideas into a reality in the business world.?

The following are some of the technological advancements that are discussed in my new report titled "Disruptive Decarbonisation" including the topic of "Energy Storage-as-a-Service" and how it will be able to minimise carbon emissions in the future.?

In a few of countries, energy from renewable sources has already surpassed generation from fossil fuels and nuclear power. However, the storage of energy produced by dispersed renewable sources requires an excessively high amount of capital for the majority of applications. At this time, short-term grid stabilisation constitutes the primary function of large-scale storage facilities, which typically take the form of banks of lithium-ion batteries. Offerings of 'Storage as a Service' on a massive scale could be made possible by emerging technologies such as bulk hydrogen storage.

By making stationary storage systems, the potential of intermittent renewable energy sources like wind and solar will be unlocked in a big way. On the other side, mobile battery technologies will significantly increase energy density, cycle life, charge and discharge rates, charge and discharge losses, and the rate at which they self-discharge. This will open the door to a plethora of new uses, the first of which is extended-range electric vehicles. Electric planes and a wide range of other machines that use wired power or engines that burn fossil fuels will eventually switch to long-term battery power. Improved battery technology will also dramatically expedite the Internet of Things' (IoT) spread. The proliferation of internet-connected devices will be dramatically accelerated by advances in battery technology.?

E-mobility is growing, and as a result, electric automobiles, bicycles, scooters, and kick bikes are becoming more commonplace on city streets. In addition to its primary use as a mode of transportation, all of these vehicles will also serve the purpose of storing energy in the not too distant future. They will feed energy back into the microgrid's battery when it is required, and begin charging themselves when there is an abundance of renewable energy in the system.

As was to be predicted, the Federal Budget of Australia for 2022 allocated AUD $102 million towards the establishment of community solar banks. Those who are typically unable to acquire solar electricity will have improved access to it as a result of these. Additional funding of $224 million will go towards the installation of 400 community batteries, which will assist reduce dependency on fossil fuels. In addition to this, the budget allocated half a million dollars to be spent during the following fiscal year on the development of a future plan to assist offshore renewable projects in Australian waters.?

In related developments, it is anticipated that integrated smart grids will soon become widespread in industrialised countries. Smart grids offer a number of benefits, including the fact that energy can be transmitted either way over power lines when using a smart grid. This lets homes and businesses that use more electricity than they need contribute it, so none of it goes to waste. Smart grids can also handle the uneven flow of electricity that comes from sources like solar and wind power, which are both renewable energy sources.

Because of this feature, using large-scale renewable energy sources will become a lot more appealing and possible. In the event that a power outage is caused by a broken transmission line, the sensors of smart grids can rapidly discover the damage and reroute electricity to the affected area. This will result in significantly fewer instances of the power going out.?

In the years and decades to come, smart grids will be implemented at even more extensive scales. The grids of entire countries and regions will start to be combined in the near future.?

Here you can learn about more emerging technology advances and techniques that will make it possible for your organisation to cut its carbon footprint.