Home energy storage devices store electricity locally, for later consumption. Usually, energy is stored in lithium-ion batteries, controlled by intelligent software to handle charging and discharging cycles. Companies are also developing smaller flow battery technology for home use.
Energy storage can be useful if you already generate your own renewable energy, as it lets you use more of your low carbon energy. It reduces wasted energy and is more cost effective than exporting excess electricity. For example, you can store electricity generated during the day by solar panels in an electric battery.
You can store electricity in electrical batteries, or convert it into heat and stored in a heat battery. You can also store heat in thermal storage, such as a hot water cylinder. Energy storage can be useful if you already generate your own renewable energy, as it lets you use more of your low carbon energy.
Storing energy in batteries is far from the only option. Multiple forms of storing energy exist such as flywheels, hydroelectric, and thermal energy. Using a pumped-storage system of cisterns for energy storage and small generators, pico hydro generation may also be effective for "closed loop" home energy generation systems.
If you have a renewable electricity generator like solar panels or a wind turbine, installing energy storage will save you money on your electricity bills. You need to weigh the potential savings against the cost of installation and how long the battery will last.
Heat batteries are generally smaller and lighter than filled thermal stores. This means you can install one in a convenient location even if you can’t find space for a traditional hot water cylinder. Heat storage batteries don’t degrade in the same way as electrical batteries, so should have a longer lifespan.