An energy storage system is nothing more than a high-capacity power bank that helps reduce domestic electricity costs

September 18, 2023
An energy storage system is nothing more than a high-capacity power bank that helps reduce domestic electricity costs. In some cases, it is possible to achieve 50-70% electricity cost savings depending on the energy consumption pattern, the size of the storage system, the energy efficiency of the home, the use of solar energy, electricity price ranges at different times, as well as consumer habits

said Arkadi Beinenson, CEO of Ampere+, which brings energy storage systems to the market.

He gave an example that if you take, for example, a 145m2 detached house and install 18 solar panels with a 20kWh energy storage system, the annual output is 7371 kWh. For comparison, the average annual electricity consumption of a four-member family in Estonia falls in the range of 7000-10,000 kWh.

Choose when to use energy from the grid and when from the storage.

The principle of operation of an energy storage system involves storing excess energy produced during the day in storage, which can be used when the price of electricity offered by the grid is too expensive. "The price of electricity fluctuates quite a bit during the day and in the future, as energy consumption increases even more, the price difference will crack wider. The storage system helps to store energy for both its own consumption and for resale to the grid, while the storage system helps to schedule production and sales.

Thus, the consumer can choose whether to consume electricity from the grid or turn on the energy storage system and when is the most beneficial time to sell energy back to the grid," Beinenson explained. He added that those who only have solar panels do not have this opportunity, so they all sell energy to the grid at the same time and often at a lower price than possible with energy storage.

Ampere+ CEO pointed out that the energy storage system is suitable for both detached houses and apartment associations in providing general electricity. "In addition to storing energy, the storage system helps to ensure energy supply during power outages. With storage, the household is automatically switched to backup power and there is no fear that the living space will remain unheated, the doors of the apartment building elevator will close, or the winter supply placed in the freezer will melt. If every household on the Estonian islands had its own energy storage system, families could breathe much easier when hearing storm warnings because life does not depend so much on what is happening in the electricity grid," Beinenson described. Similar backup systems have been used for years in hospitals and data centers, but increasingly also in industry and private households.

Beinenson added that the exact duration of how long a household can cope on the power of only an energy storage system depends on the household's consumption habits.

At normal consumption, this is generally one day, but with smart consumption, the capacity is enough for several days. In this case, large electricity consumers such as electric heaters should be avoided

Beinenson noted.

He suggested reviewing consumption habits even if a storage system is not purchased, as it is also possible to save costs with this.

Energy storage can be installed in a room, utility room or garage

When choosing an energy storage system for your household, the size of the household and energy consumption habits should be taken into account.

The size of an energy storage system can be compared to a standard-sized refrigerator, so it depends on the household where it is installed. Usually, a utility room or garage is chosen for this, but we have also installed storage in a wardrobe

explained the CEO of Ampere+. Only access to the energy system is needed for the installation of the storage system and no additional installation is required.

He noted that if a solar park is already in place, no separate permits are needed to install the energy storage system, but if a new full solution is created, i.e., solar panels and an energy storage system together, a notice must be made to the local government for the installation of solar panels.

Investing in energy efficiency increases property value.

The installation of an energy storage system is quite a substantial expense, the consumer should expect at least a 13,000 euro spending.

According to Valdeko Kübarsepp, the head of Inbank's Estonian business unit, various financing solutions available on the market help finance both the replacement of heating systems and the installation of solar panels and energy storage systems, such as green loans and hire purchase.

Considering the ever-rising household expenses, it's high time to think about how to replace energy-intensive heating systems with more economical ones or how to create additional opportunities for the existing system to optimize costs. With a green energy loan or installment payment, you can spread a large investment over a longer period of time, making the installation of a new solution more affordable

said Kübarsepp.

He added that when choosing a suitable financing solution, both the price of the asset to be acquired and the consumer's ability to pay monthly payments should be taken into account.

The head of Inbank's Estonian business unit explained that green financing options are associated with investing in real estate and saving costs, not just consumption, so they are offered at a very reasonable interest rate.

In addition, an increase in energy prices is predicted for the upcoming heating season, so in the long run, the win due to green energy may be greater than the amount spent on the monthly installment and the interest earned from energy savings is definitely recouped. In addition, the value of real estate also rises, as homes with smart energy solutions are more valued in the market. This is an investment for the future

Kübarsepp added.

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