The Role of BESS in the Clean Energy Transition
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Posted On: 12/05/2024 4:40:11 PM
The Role of BESS in the Clean Energy Transition
The global transition to renewables will be heavily reliant on battery energy storage systems (BESS) to overcome green energy’s intermittent nature. While renewables like wind and solar have the potential to generate enough capacity to cover most of the world’s energy needs, they can only be generated at 100% efficiency during certain times of the day and under optimal weather conditions.
BESS refers to energy storage facilities or massive batteries that can charge up when clean energy is abundant and cheap, storing the energy for later use when demand spikes. Combining renewable sources of energy with battery storage is one of the only ways the energy industry can overcome the intermittency issue plaguing green energy and ensure a constant supply of affordable clean energy.
Battery energy storage systems would allow utilities to store excess green energy generated at peak times, such as solar energy collected during the day, and dispense it into the grid at night when energy demand is at its highest but solar energy generation has dropped to zero. They would allow for a consistent supply of clean energy to households and businesses regardless of the time of day or climate conditions, essentially mitigating green energy intermittency.
Without these storage alternatives, clean energy prices would swing wildly depending on peak generation and demand hours, increasing energy costs for customers and upping the burgeoning segment’s risk for potential investors. Such technologies will be critical to balancing green energy supply and demand as the world phases out fossil fuels such as oil, coal, and natural gas in favor of renewables.
Most experts predict that energy demand will see a significant spike over the next decade as energy-intensive sectors increasingly adopt electrification and make renewables their primary sources of energy. As a result, countries will have to increase their green energy capacity significantly and make massive investments in battery energy storage systems to ensure all additional energy is available and ready to be directed into the grid when needed.
A new Allied Market Research report notes that the global BESS market is poised to see a 20.1% compound annual growth rate (CAGR). Leveraging BESS will help utilities use their renewable resources more efficiently, stabilize the energy grid, and reduce their fossil fuel dependence. These storage systems can be especially useful in regions with unreliable power supply or during emergencies, making them a key part of the energy industry’s solutions to greenhouse gas emissions, energy inequality, and rising energy costs.
The success of BES systems will in part depend on entities like Reflex Advanced Materials Corp. (CSE: RFLX) (OTCQB: RFLXF) that are focused on ensuring that the needed minerals vital in the manufacture of energy storage systems are readily available at affordable price points so that the battery systems are within reach of all who need to use green energy.
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
The global transition to renewables will be heavily reliant on battery energy storage systems (BESS) to overcome green energy’s intermittent nature. While renewables like wind and solar have the potential to generate enough capacity to cover most of the world’s energy needs, they can only be generated at 100% efficiency during certain times of the day and under optimal weather conditions.
BESS refers to energy storage facilities or massive batteries that can charge up when clean energy is abundant and cheap, storing the energy for later use when demand spikes. Combining renewable sources of energy with battery storage is one of the only ways the energy industry can overcome the intermittency issue plaguing green energy and ensure a constant supply of affordable clean energy.
Battery energy storage systems would allow utilities to store excess green energy generated at peak times, such as solar energy collected during the day, and dispense it into the grid at night when energy demand is at its highest but solar energy generation has dropped to zero. They would allow for a consistent supply of clean energy to households and businesses regardless of the time of day or climate conditions, essentially mitigating green energy intermittency.
Without these storage alternatives, clean energy prices would swing wildly depending on peak generation and demand hours, increasing energy costs for customers and upping the burgeoning segment’s risk for potential investors. Such technologies will be critical to balancing green energy supply and demand as the world phases out fossil fuels such as oil, coal, and natural gas in favor of renewables.
Most experts predict that energy demand will see a significant spike over the next decade as energy-intensive sectors increasingly adopt electrification and make renewables their primary sources of energy. As a result, countries will have to increase their green energy capacity significantly and make massive investments in battery energy storage systems to ensure all additional energy is available and ready to be directed into the grid when needed.
A new Allied Market Research report notes that the global BESS market is poised to see a 20.1% compound annual growth rate (CAGR). Leveraging BESS will help utilities use their renewable resources more efficiently, stabilize the energy grid, and reduce their fossil fuel dependence. These storage systems can be especially useful in regions with unreliable power supply or during emergencies, making them a key part of the energy industry’s solutions to greenhouse gas emissions, energy inequality, and rising energy costs.
The success of BES systems will in part depend on entities like Reflex Advanced Materials Corp. (CSE: RFLX) (OTCQB: RFLXF) that are focused on ensuring that the needed minerals vital in the manufacture of energy storage systems are readily available at affordable price points so that the battery systems are within reach of all who need to use green energy.
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
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