Battery storage
Make money by supporting the electrical grid
A battery storage system can be used for many things. It can be used to lower electricity costs by charging it when electricity prices are low, to store your own solar power, or to increase power output without needing to upgrade the main fuse. With the right equipment, it is even possible to get through power outages lasting up to a day.
A battery connected to CheckWatt's virtual power plant, Currently, can on top of it all get paid for helping to balance the power grid. The virtual power plant links together batteries across the country and offers support services to the power grid operator. At present, this is a very profitable use of battery storage. Learn more about Currently
As a battery owner, you don't need to do anything yourself. CheckWatt monitors and controls the battery, prioritizes between services, and optimizes operations to maximize profitability for the owner.
What has been the historical revenue for batteries connected to Currently?
A battery can be used to reduce the cost of electricity and grid costs, but the best profitability comes from participating in the ancillary services market. Ancillary services revenues vary from day to day and can increase or decrease depending on how the market develops. Investigate the historical revenue of batteries connected to Currently below.
What advantages could a battery storage provide?
The ability of batteries to store energy and act as both consumers and producers opens up significant opportunities, especially because they are quick to regulate and precise in their power delivery. Here is a list of different functions that battery storage can be utilized for.
Ancillary services
To ensure the electricity grid is always balanced, the grid operator procures various types of support services. Batteries in CheckWatt's virtual power plant, Currently, for example, contribute to maintaining frequency during operational disruptions. In exchange, compensation is paid to everyone participating in these efforts. Not only is this the most profitable way to utilize battery storage, but it also enables the expansion of cheaper renewable electricity, making the electricity system more reliable. Read more about how Currently has helped stabilize the electricity grid.
Energy arbitrage
Electricity prices for each hour of the upcoming day are always published one day in advance. This means that one can reduce their electricity costs through a practice known as arbitrage – buying electricity and charging the battery when electricity prices are low, and using the battery as a power source when electricity prices are high. When there are significant variations in electricity prices, it becomes profitable for the battery owner while also benefiting the entire electricity system by helping to relieve the grid during its peak demand hours.
Flexibility markets
In certain electricity areas, batteries can also support the local grid through local "flexibility markets." Here, local grid owners can trade local energy to mitigate the risk of overloading their grids. Instead of expanding the grid infrastructure, it can be relieved by utilizing locally available batteries. Compensation for this service is paid by the grid owner, who avoids the need to invest in new power lines.
Peak shaving
With a battery storage system, you can smooth out the highest peak power demands that occur when heavy loads are used. By allowing the battery to assist in these situations, these loads can be utilized without affecting the maximum power demand from the grid connection. For those with power subscriptions based on peak power usage, this can reduce fees associated with exceeding those limits.
Backup power during power outages
Depending on the type of battery and inverter installed, it may be possible to have what's known as islanding operation, meaning to supply electricity to a property, for instance, from the battery during a power outage. CheckWatt's system ensures that there is enough reserve power in the battery while also performing other services.
Increased self-consumption of solar energy
Those with their own solar panels can use a battery to store excess solar energy for use after the sun sets. This is the most common use for systems not connected to CheckWatt's services. However, because there is relatively little difference between the selling price and buying price of electricity, the profitability of this is limited.
Increased available power capacity
The property's main fuse determines the maximum power that can be drawn at any one time. If you want to increase your power usage without needing to pay to upgrade the main fuse, a battery can be used to supply power to the facility within the fuse limit. This could for example be when charging you electric vehicle and using the oven at the same time.
EnergyInBalance
When connecting their battery to CheckWatt, resource owners also gain access to EnergyInBalance, which visualizes the use of energy resources and the financial outcomes of CheckWatt's smart management. Read more
List of compatible battery storage systems
Here is a list of battery storage systems that are already compatible with CheckWatt and Currently. Please note that this list is continuously updated.