Solar energy is typically transported via power grids and stored primarily using electrochemical storage methods such as batteries with Photovoltaic (PV) plants, and thermal storage technologies (fluids) with Concentrated Solar Power (CSP) plants. Why is it hard to store solar energy?
Battery storage systems, such as lithium-ion or lead-acid batteries, capture energy produced by solar panels for later use. This technology is the most commonly utilized form in residential solar installations. Thermal storage involves capturing heat from solar energy.
The cost of solar energy storage systems varies widely depending on the technology, capacity, and manufacturer. As of the latest data, a home battery storage system can range from $200 to $15,000, with lead-acid batteries at the lower end and modern lithium-ion batteries at the higher end.
Types of energy storage for solar power include battery, thermal, and mechanical. Factors to consider when choosing a storage method: capacity, depth of discharge, cycle life, and efficiency. The cost of solar energy storage varies depending on technology, capacity, and incentives.
By capturing excess energy generated during peak sunlight hours, these systems ensure a consistent power supply that can be tapped into when solar production declines, such as during the night or on cloudy days.
Energy Independence: If ensuring a consistent power supply and reducing reliance on the grid is a priority, storage can be particularly beneficial. Net Metering Availability: In regions with net metering policies, excess solar energy can be sold back to the grid, potentially reducing the need for a storage solution.