How Battery Storage Can Supercharge Your Energy Initiatives
Within the last two years, securing power to grow and scale operations has emerged as an urgent priority across many sectors in the United States. Organizations are reevaluating their energy strategies with a heightened awareness of the forces shaping the energy market today, including the growing demand for energy and constraints limiting the supply of energy. An energized U.S. economy, developments in AI and the recent onshoring of manufacturing and industry have boosted growth projections for many sectors across the country, fueling an unprecedented appetite for energy.
As organizations seek out solutions for meeting their goals of securing affordable and reliable energy to power operations across the country, energy storage paired with renewables offers unique advantages worth exploring in depth.
Here are some of the top ways energy storage can help supercharge your organization’s energy initiatives:
Improving Energy Resiliency
Battery storage allows you to diversify your energy portfolio by supplementing renewable sources with the added resiliency of stored energy. Renewables continue to be one of the lowest-cost and fastest-to-deploy forms of generation across most of the U.S., however, the natural ups and downs of generation — can lead to periods of surplus energy and periods of energy shortage. Battery storage can help ensure a reliable power supply during times of intermittency, by storing excess energy for immediate use when it's needed.
Increasing Cost Savings
By storing low-cost power produced during low-demand hours and making it available for future use, battery storage provides opportunities to hedge against wholesale energy market volatility and realize savings when power demand and cost increase. By contracting for battery storage through a virtual power purchase agreement (VPPA)1 or through an energy storage agreement, your company can arrange to make fixed monthly payments for energy storage and earn settlements based on market price increases.
Advancing Progress
Battery storage can be combined with onsite solar or with a RPPA to optimize a renewable asset’s energy generation with your company’s power usage. In addition to ensuring a reliable and flexible power supply, your company can capture excess electricity generated during peak renewable energy production or low demand, allowing you to get the most out of your renewable asset.
Battery Storage –
Real World Results
NextEra Energy Resources’ combined wind, solar and battery storage solution helped Portland General Electric (PGE) maintain reliability and affordability for its customers. With over 100 wind turbines and 150,000 solar panels, the Wheatridge Renewable Energy Facility produces 350 megawatts of energy that flows into the grid or into the onsite battery storage, which can store up to 30 megawatts of energy for four hours. By addressing intermittency as well as the capacity limits of the energy grid, this battery storage provides flexibility and maximizes the availability of renewable resources, regardless of weather conditions or time of day.
The combined energy assets provide enough energy to power approximately 100,000 Oregon homes, enabling the site to meet energy demand as required.
Meeting Your Energy Needs
As battery storage continues to scale, it will become increasingly integral to all forms of energy generation. Its integration will continue to make renewables more affordable, unlocking new potential for addressing the energy needs of many sectors.
Securing the power your organization needs can be complex. When you work with NextEra Energy Resources, you can leverage the experience of a world leader in battery storage. Our near-term solutions come backed by the scale, expertise and cutting-edge technology to meet diverse energy needs across the nation. We are the largest energy infrastructure developer in North America, and can deliver speed-to-market.
- Offered by NextEra Energy Resources as a renewable product purchase agreement (RPPA)
Tags: Insights | Trends | Battery Storage | Energy Storage | Decarbonization | Energy Transition