Why is electricity storage important?

With increasing power outages, rising energy costs, and a growing push toward renewable energy, storing electricity efficiently helps you maintain control, reduce your environmental footprint, and enjoy reliable power. Here’s a simple infographic summarizing how electricity storage technologies work and their critical role in our energy system:

Does storage reduce electricity cost?

Storage can reduce the cost of electricity for developing country economies while providing local and global environmental benefits. Lower storage costs increase both electricity cost savings and environmental benefits.

What are electricity storage technologies?

Electricity storage technologies are systems designed to capture energy when production is high, store it efficiently, and then release it when needed. Here’s a quick snapshot of the main types:

Does energy storage save money?

Energy storage can save operational costs in powering the grid, as well as save money for electricity consumers who install energy storage in their homes and businesses.

How can energy storage improve energy production?

Innovations in energy storage — the capture of energy produced at one time for later use — can protect against supply chain disruptions, reinforce the grid and foster U.S. manufacturing competitiveness. Batteries now support efforts to ensure low-cost, domestic energy production.

What is energy storage?

Energy storage encompasses an array of technologies that enable energy produced at one time, such as during daylight or windy hours, to be stored for later use. LPO can finance commercially ready projects across storage technologies, including flywheels, mechanical technologies, electrochemical technologies, thermal storage, and chemical storage.