Coupling Energy Storage and Renewables

Intelligent energy storage integrates Internet of Things (IoT) technology with energy storage technology to increase its effectiveness and efficiency. One of the benefits it offers is increasing the feasibility and utility of integrating renewable energy with energy storage. This leads to numerous energy saving benefits that can be especially attractive to businesses as they pursue renewable energy goals. For example, Google parent Alphabet plans to reach its goal of using 100 percent renewable energy by the end of 2017; Apple says that 96 percent of the electricity it uses already comes from renewable energy; and Facebook is positioning itself to hit the 50 percent mark by 2018. In addition, the prices of renewables such as solar and wind have fallen about 80 percent in the last 10 years according to reports. Energy storage is becoming a major player in the global energy market and will continue to grow for the foreseeable future. As component prices decline, the benefits of energy storage will become both more attainable and attractive. Integration with the IoT will create additional advantages through intelligent energy storage to facilitate integration of energy storage and renewables as well.