Traditional energy sources such as coal and natural gas power plants need to be scaled up as demand fluctuates (usually increasing over time), and often do not operate at maximum efficiency.
This leads to unnecessary energy waste and environmental pollution to meet our needs.
In addition, the slow response rate of traditional power generation equipment may not be sufficient to meet the rapidly increasing demand in real-time, posing risks of failures and reducing the quality of electricity.
Therefore, interest in renewable energy development is increasing globally.
The Importance of Energy Storage
Energy storage plays an important role as an indispensable part of the electricity supply, transmission, and distribution system.
There is growing interest in this field from stakeholders such as end-users, operators, and grid system managers.
Benefits of Energy Storage
Cost Savings:
- Energy storage can help reduce the operation costs of the power grid and save consumers by using energy storage systems in households and businesses.
- Storing energy for peak times can significantly reduce costs for businesses and households.
Ensuring Stability:
- Using energy storage systems helps avoid disruptions in production and maintain normal business operations.
- In terms of consumers, this ensures a continuous power supply and reduces inconvenience during outages.
Integrating Diverse Resources:
- Energy storage can mitigate the fluctuations of resources such as wind and solar by storing excess energy and distributing it as needed.
Reducing Environmental Impact:
- Energy storage helps save electricity when needed most, thereby reducing greenhouse gas emissions and improving the efficiency of the power grid by integrating clean energy sources.
Investment and Development Trends
Long-term Benefits:
- Investing in energy storage along with the power grid brings long-term benefits and is a global development trend as well as in Vietnam in the coming years.
Thus, energy storage is not only an important solution to supplement the current scarce electricity supply but also a cost-effective way to meet our increasing energy needs and protect the environment.