Climate change is no longer a future problem but a threat that the modern world has to grapple with. From dangerous weather events, melting glaciers, frequent and intense drought, rising sea levels, to warming oceans, the devastation caused by climate change is now real. Scientists now cite renewable energy as the most effective solution to reverse the threat. Scientists now say clean, renewables such as solar, wind, hydroelectric, biomass, and geothermal electricity can power the world and avert the planet-warming effects of fossil fuels. But there’s one big challenge; intermittency of these renewable sources of energy. Despite their positive effects on reversing climate change, these energy sources suffer from environmental, seasonal and daily cycles. These cycles limit their application and efficiency in large-scale use. Energy storage technology has emerged as the solution to the intermittent nature of renewables. Innovative energy storage helps maximise the full potential of renewables. By improving availability of renewable energy during peak demand, storage systems reduce reliance on fossil-fuel powered electricity.
Read on and find out how innovative energy storage solutions can contribute to climate goals.
Role of Technology in Halting Climate Change
Environmentalists have now narrowed down on technology as the best way to resolve the climate change conundrum. Over the last three decades, innovative technologies powered by governments and private entities have helped reshape the debate on climate change. Through advanced technologies across industries, scientists have seen a noticeable reduction in emissions in studies and in practical applications. From hybrid vehicles, electric vehicles, smart home appliances, carbon capture, to remote working, new ideas are now at the centre of the fight to support climate goals. Innovative storage systems might not have featured prominently in the global warming debate, yet they can contribute significantly. These innovative energy storage solutions include Lithium-ion batteries, thermal energy storage, hydrogen (power-gas) energy storage, floating energy storage systems, mechanical energy storage, and pumped hydropower. Technology also plays a critical role in research and monitoring of carbon footprint. Integrating artificial intelligence (AI) is also helping in data analysis for better reporting and utilisation of data. Scientists now have more efficient tools for data collection on emissions, which translate to more accurate data and remedies. Most of the latest energy storage solutions are now available on the market. With increasing capital injection into the renewables market, the cost of such technologies continues to fall.
Digital Twin for Bankability Design and Financing
While battery systems have emerged as the best technology for storage of renewable energy, there are myriad challenges to overcome for full utilisation of this technology. The cost of clean energy batteries continues to fall and solar energy installers now offer better quotes, but the capacity, reliability and durability of energy storage systems (ESSs) has a lot to desire. For big homes or businesses, investing in renewables remains a challenge due to lack of more reliable batteries. With digital twinning, is one of the most revolutionary technologies and it offers an opportunity to optimize battery storage systems. Through AI-powered modelling, it’s now possible for manufacturers to design and make batteries that have a huge impact on climate change. Digital twinning helps by generating wide varying inputs in energy storage systems. The twin is a digital copy of the actual storage system and its processes and it’s used by scientists to run virtual simulations by leveraging multiple data sets. The data generated helps tweak the digital copy to reflect any changes in the real world energy storage system. Digital twinning involves the use of a wide variety of data from financial investment required, energy trading, carbon emissions reductions, asset maintenance and replacement costs, battery cycle ageing, calendar ageing, to failure modelling.
Battery Monitoring and Analytics
Big data is no longer a buzzword in the tech world but a real concept that’s applicable across industries. In the renewable energy sector, big data continues to affect the quality of battery energy storage systems (BESS). Through real-time monitoring, it’s possible to generate concrete data that helps with visualization of these systems. By leveraging big data, manufacturers can now make smarter, more durable, and renewable battery storage systems. The monitoring technology will check for levels of energy generation, demand for energy, and efficiency of the storage system. The monitoring tools work against set KPIs to optimize performance of the energy storage systems.
By utilizing data, its’ easier to protect energy storage systems from dangers such as fire and corrosion. For battery storage systems, it’s also easier for manufacturers to enforce warranties with OEMs in case they discover there are inefficiencies. With advanced analytics that’s part of big data, data storage products enjoy improved performance through automated troubleshooting. The monitoring tools predict the battery’s health, track the right state of charge, and provide insights into preventative maintenance, adjusted charging strategy and identify opportunities for improved project design. Ultimately, the battery products that end up on the market perform better and this encourages the uptake of renewables.
Artificial Intelligence of Things (AIoT) Optimization and Control
While there’s potential for renewables to boost grid output in some places, the issue of intermittency makes this an expensive model. Now, imagine an energy storage technology which monitors everything about these high-capacity systems to avoid downtime? By fusing artificial intelligence with internet of things (IoT), it becomes possible to track energy storage system performance in real-time. This means the providers have more control over the system and understand the capacity, capability, structural problems, self-consumption, demand vs supply, trading and other factors. An efficient AIoT system can help optimize the energy storage solutions available to get the best out of them without the issue of intermittency. The storage technology can predict changes in weather patterns and provide data on how this can affect supply during peak hours.
Technology as the Future of Energy Storage
Innovative technology has been at the centre of the growth in renewable energy storage. The revolution continues with more injection of capital by governments and private entities. Utilising the latest technology not only reduces the cost of energy storage but also optimises the performance of these systems. Production of more efficient and high-capacity mass market energy systems has already started and with time the prices will start falling. More importantly, scientists and researchers can now leverage more data variables to refine the energy storage systems they’re working on. With the production of more affordable and efficient energy production systems, it’ll become more convenient for more people to embrace renewables. This is how innovative technology in energy storage will in the end promote climate goals.