Bloomberg – “the race for home energy storage heats up”
The race for home energy storage is heating up, as Powervault reduces consumer costs of batteries by 12%, according to Bloomberg.
Energy storage is an essential link needed to make intermittent solar and wind energy reliable. When combined with smart meters and digital technologies, batteries can help utilities regulate the grid by providing power reserves which can be tapped and transmitted on demand.
The U.K. is also rolling out smart meters to 53 million houses and small businesses by 2020 to improve understanding of energy usage.
Even without solar panels, affordable batteries could save consumers money by storing inexpensive power from the grid during times of low demand and feeding stored power into their home appliances during expensive peak hours at night.