As the adoption of clean energies continues and more countries work toward decreasing their emissions and attaining their targets, the popularity of battery storage technology grows. Battery storage technology allows utilities and power system operators to store energy for future use, which may come in handy in the event of unexpected outages or failures.
An energy storage system works by collecting energy from a power plant or grid and then discharging it at a later time, providing electricity and other grid services when required. There exist various battery chemistries available for grid-scale applications, including molten salt, redox flow and lithium-ion batteries.
Presently, the market for grid-scale battery storage in the United States is dominated by li-ion batteries. However, this may soon change, with lithium ion battery prices expected to continue declining and battery energy storage system prices continuing to decrease. The need for system flexibility and the existence of more policies that favor battery energy storage systems will also aid in their adoption. Below are some of the key attributes of these systems.
Round-trip efficiency
This is the ratio of the energy the battery collects to that of the energy it discharges. This usually represents the total AC-AC or DC-DC efficiency of a battery system, including electrical losses and losses from self-discharge. It is usually expressed as a percentage, with battery manufacturers noting that AC-AC efficiency is more crucial to utilities.
State of charge
This refers to a battery’s present level of charge and is measured as a percentage. It ranges from fully charged to completely discharged. A battery’s state of charge affects its ability to offer energy or ancillary services at any particular time to the grid.
Self-discharge
From the above, one can deduce that this happens when the stored energy of the battery decreases without being discharged to work for a customer or the grid, or when it decreases because of internal chemical reactions. This is measured as the percentage of charge lost over a period of time. It is an important variable to consider in batteries that are to be used for long-duration applications.
Cycle lifetime
This is the amount of time an energy storage system can offer regular discharging and charging before it degenerates or fails.
Storage duration
This refers to the time a battery storage system can discharge its power capacity before it depletes its energy capacity.
Energy capacity
This refers to the maximum amount of stored energy, measured in megawatt-hours or kilowatt-hours.
As companies such as StorEn Technologies Inc. fine tune their redox flow battery technology, li-ion energy storage systems are likely to be given a run for their money.
NOTE TO INVESTORS: The latest news and updates relating to StorEn Technologies Inc. are available in the company’s newsroom at https://ibn.fm/StorEn
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