Electricity is a unique commodity in that it is generated and consumed at exactly the same time. Managing this commodity is a huge task when the demand for energy is far from constant over the period of a day and is very difficult to predict.
Balancing electricity demand with generation has become an increasingly difficult task for grid operators with the restrictions on installing new transmission and the addition of renewable generation assets that are intermittent in nature.
Energy Storage is an evolving resource for the grid operator to maintain the balance between electric load demand and generation. Storing energy in non-peak times, energy storage systems can be easily dispatched to help in balancing peak load demand. For owners of renewable generation, energy storage can help solve ramp up and ramp down issues as well as provide a more efficient deployment, resulting in higher returns and better payback periods.