Adopting renewable energy could help nations fortify their energy grids from disruptions and improve their reliability. While fossil fuels such as coal and oil can generate energy on demand regardless of time or weather conditions, their supply is regularly affected by geopolitics. This often leads to high energy costs in the U.S. whenever fossil fuel-producing countries experience any major upheaval.
Renewables, on the other hand, are intermittent in nature and require specific times and weather conditions to perform effectively. Solar farms can only generate energy during the day, with peak production occurring during midday hours, and wind projects need sustained windy weather to maintain a constant energy output. Using renewables alongside energy storage can alleviate this intermittency in energy output and transform renewables into a truly reliable source of energy.
Since domestically produced renewable energy is completely cut off from foreign markets, it would insulate America’s energy grid from the kind of geopolitics that causes energy prices to spike. Furthermore, a grid that draws energy from a diverse source of renewables will have in-built redundancies that ensure it still has a constant supply of energy if one source is temporarily unable to generate electricity.
The Russia-Ukraine war recently showed the risk of being too reliant on fossil fuel imports. Europe had become increasingly reliant on cheap fossil fuel exports from Russia in the years leading up to the Ukraine invasion. When the Kremlin stopped natural gas exports to Europe in 2022, the entire region was plunged into an energy crisis and several EU nations scrambled to find alternative energy suppliers before winter.
Similarly, America’s reliance on imported oil leaves critical American industries at the mercy of outside forces and remains a significant weakness for the world’s largest economy. Making major investments in both renewable and energy storage infrastructure would go a long way towards boosting energy grid resilience. Additionally, ensuring there is enough energy storage capacity to store surplus green energy will prevent supply deficiencies, such as the one that occurred in California in August 2020, and help to maintain grid stability.
California drew around 15% of all its electricity from solar in 2020. A heatwave significantly increased demand for air conditioning at night, when output from solar farms is at its lowest, and the grid didn’t have enough energy to meet the record demand for cooling. At the time, some experts posited that California could have avoided the rolling blackouts that occurred during this period if it had greater energy storage capacity.
Indeed, the state has upped its investment in energy storage in the years since, boosting its grid reliability via the deployment of large-scale battery storage. Pairing renewables with energy storage at the national level could help the U.S. boost grid reliability and reduce its vulnerability to extreme weather events. A more resilient, modernized grid would also support decarbonization and accelerate the path to net-zero emissions.
Companies like SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) that focus on providing renewable energy solutions can play a vital role in improving the reliability of renewable energy through availing long-duration battery storage solutions for excess energy generated during peak production hours.
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