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2023 is seeing the acceleration of the Green Economy. Net Zero will continue to be the topic de jour with mass electrification across all sectors. This presents its own trials as there will be a significant increase in demand for electricity but also an increase in unpredictability of demand coupled with unprecedented penetration of renewable energy supplies (RES). This combined with a gradual decline of baseload generation and potential shortages in gas supply will make this a challenging time for many businesses.
Businesses on the other hand face additional challenges. They need to be able to become more sustainable and at the same time profitable. To do this they will need access to cost effective energy. The unpredictability of the electricity market will make network management more difficult than ever in terms of load and frequency balance and Distribution Network Operators (DNOs) are reluctant to see unlimited grid connected renewables as generation as less predictable and reliable. But this is where Battery Energy Storage Systems (BESS) shine. BESS unlocks this dilemma. Returns on typical BESS investments are not just defined by grid services but also on energy trading and, cost of energy, and savings from self-sufficiency can all be achieved. Or, all three strands in combination and auxiliary functions like backup power and Hybridising generators.
Today, battery energy storage technology is king in terms of protecting businesses from the fluctuations in energy prices and unpredictability in demand. Requests from our clients to provide carports for recharging electric vehicles is also on the increase which follows the trend in the demand for EV cars. Demand for battery cells is higher than ever whether for EV batteries or for stationary storage systems.
Ultimately, BESS is set to become the critical enabler for increased renewable penetration, globally and a critical contributor to carbon reduction and if you want to protect your business and mission critical systems and processes, this is something that you should consider budgeting for as part of your asset portfolio in 2023.