Grid-based energy storage, battery storage solutions for renewable energy application, and effective storage technologies that reduce power and energy intermittence problems are leading topics in today’s energy media and across a variety of R&D initiatives. We strongly agree that widespread adoption of storage across energy infrastructures will be key to solving our growing electricity supply challenges. But we’re also strong advocates for storage applied closer to home, or office, as it were.
Commercial buildings can (and do) reap an amazing array of benefits from installed storage technologies. Be it thermal or electrochemical storage tech, key benefits of installing energy storage at business locations like large office buildings, manufacturing facilities, warehouses and multi-use commercial structures are many and far-reaching. Notably, commercial building energy storage:
- Delivers higher reliability and consistency.
If your operations require power and energy intensity, and its consistency directly affects the quality and/or efficiency of your output, the reliable, uninterruptible power supply (UPS) that advanced battery storage delivers in an otherwise intermittent supply situation will directly benefit operations on the line and thus output-related financials.
- Reduces your peak electricity demand charges.
If your utility passes along the varying cost of electricity (time of use/ TOU rates), you know that the energy you pull off the grid at peak hours of your operation are more expensive than at times of low demand respective to needs of average regional users. Storage will help you load up on energy in off-peak hours at a lower cost so that you can utilize it when you most need it at the reduced rate.
- Creates future budgetary security.
Energy costs are volatile and will likely only increase as demand grows, generation technologies struggle to meet the demand, and resources become scarcer. The reduced costs of energy now via storage applications will increase financial security for you in the future.
- Promotes higher utilization of your energy infrastructure.
Since energy storage will help reduce your energy costs, you’ll better empower your employees – from operations managers to entry-level thermostat lovers – to more freely use energy to increase production and service quality or simply make the working environment more comfortable to increase personal productivity.
- Prepares you for smart grid interaction.
Even if your buildings aren’t connected to a smart grid now, they likely will be in the future. Energy storage is a key element of building-smart grid interaction and will help you deal effectively with intermittency issues from and to the grid, especially as more renewable technologies are utilized.
- Provides potential tax break incentives.
Depending on your location, installing energy storage may result in tax breaks for your business that offset the cost of installation. Energy storage is increasingly regarded as a stand-alone technology within alternative energy incentive programs that also incentivize installed renewable energy and energy efficiency measures. In the U.S., the Energy Storage Act of 2012 may provide up to a 30% tax break, though some already exist in states such as California and Texas.
Whether you develop commercial properties in the heart of America or head up operations for a major manufacturing company based in China, energy storage will provide you considerable, consistent budgetary savings that help stretch your profit margins. If you then pass those savings to your clients and customers, you’ll see that investment stretch your returns exponentially. With commercial energy storage, the bottom line is your bottom line.
If you’re looking seriously at the benefits of energy storage for your business, BeVault and companies like ours can help you put together a needs assessment and strategy to start reducing your costs and increasing the productivity of your energy in the short and long terms. Contact us.
If you are searching for a more in-depth look at commercial energy storage applications, technological potential, market trends, and contributing factors to industry growth, check out Pike Research’s recent report Energy Storage in Commercial Buildings.