Mega batteries are playing a critical role in the global transition from fossil fuels to renewable alternatives. While green energy sources are undoubtedly cleaner than fossil fuels such as oil and natural gas, they are plagued by one major issue that could impact their rollout: intermittency. Unlike fossil fuels, which can generate energy at any time at very high efficiency, renewables are beholden to external factors such as weather and time, which determine the amount of clean energy they can generate.
For instance, solar energy projects can only generate electricity during the day and reach peak production during a small window of time, while wind projects require windy weather to function efficiently. The result is peaks where renewable energy projects generate lots of clean energy, followed by lows where they generate little to no energy.
In the case of solar energy, peak production usually occurs during midday hours when the sun is at its highest before slowly tapering off through the rest of the day. Yet the millions of households spread across the country typically consume the most energy from 3pm to 6pm on weekdays when folks come home from school and work and run their electric appliances. Most EV drivers in the U.S. also charge their cars through the night and into the early hours of the morning when solar energy production is at its lowest.
Pairing renewable sources with mega batteries allows green energy projects to store energy generated during peak hours and release it into the grid when energy demand from households peaks. This relationship between clean energy generation and storage means that megabatteries will be essential to the renewable energy transition, allowing renewable developers to bridge the gap between clean energy production and demand.
Consequently, any investments in green energy capacity should be accompanied by equal investments in energy storage to ensure the U.S. can effectively take advantage of its rising green energy capacity. Without sufficient megabatteries to store renewables produced during peak production hours, the U.S. will continue to use fossil fuels to power its households and industry when energy demand is at its highest.
The Financial Times says that megabatteries can ‘soak up’ excess clean energy produced when energy demand is at its lowest, noting that recent battery design breakthroughs have been key to making batteries much more efficient.
Furthermore, a sustained drop in lithium-ion battery prices over the past decade and a half means that megabatteries are becoming an increasingly cost-effective means of addressing the intermittency issues endemic to clean energy. Major markets like the U.S., China, Europe, and Asia will most likely continue to incorporate megabatteries into their green energy pipelines as the green transition accelerates.
As battery technology evolves to serve the renewable energy industry, other related technologies like the electric vehicles from manufacturers like Bollinger Innovations, Inc. (OTC: BINI) could also benefit from those improvements by incorporating innovative batteries into their products.
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