According to Forbes, energy storage technology could render utility companies unrecognizable within the 21st century. Much of the news is all about battery technology, which is making headlines thanks to electric vehicles. Batteries are much more portable and usable in today’s market, and just like smartphones and computers, the technology is only going to get better.
Companies Making Investments
Tesla Motors has been one of the pioneers in battery technology, not only providing energy storage for cars, but also for homes and businesses. Tesla Motors made a major announcement about developing equipment which would store solar electricity. This would allow backup power during regulated times or when the system goes offline. Tesla Motors is not the only company investing in energy storage. Next Era Energy announced their intention to invest about $100 million in the industry over the next year.
The Technology Driving the Changes
Lithium-ion (Li-ion) is the game-changer in the industry. The lead acid technology, which is the what has dominated the battery industry, is much more expensive than the Li-ion technology. In addition, Li-ion batteries are much smaller and last much longer. The Li-ion batteries act much like a smartphone battery, which can be measured as it charges or is used. This gives the user more information about the power that is provided. A Li-ion battery has more functionality and usability.
More Than Batteries
Li-ion batteries are changing the terrain when it comes to power, but it’s just one piece of the puzzle. There are other technologies needed to convert power from DC to AC and back. The technical name for these applications are rectifiers and inverters. It’s also going to take ways to get the energy from solar panels to the battery pack, whether it’s in a garage or business. Some experts believe that utility companies may also be able to tap into the power of Li-ion batteries, using it to reduce dependence on natural gas.
Don’t forget that these new units will require housing and hardware to store and during installation. There’s also software that integrates components, to avoid too much demand on a battery or to know when charging is required. The industry is wide open. Your business can take advantage of Li-ion battery technology that is available today to save space in your data center and give you better performance in the long run. Installation is simple and easy. Shift your energy use to Li-ion applications that provide more functionality and last longer than traditional batteries to see the benefits in your business.