Batteries help companies reduce electricity costs and risks

The energy market is undergoing significant changes, and companies are increasingly looking for smart solutions to help reduce electricity costs and ensure stability even in volatile market conditions. This issue will become particularly relevant after the Baltic states disconnect from the Russian electricity grid in February this year, when desynchronisation will open up new revenue opportunities for companies in the energy market. The energy company Enefit is already prepared for these changes, offering battery solutions for energy storage that will enable companies to become active participants in the energy market and reap financial benefits.

Why choose battery solutions?

“Until now, one of the most popular solutions was to generate energy using solar panels, but now companies are also purchasing energy storage solutions, or batteries. This makes it possible to increase the consumption of self-generated energy and reduce the need to sell it to the grid during off-peak hours when electricity prices are low," explains Rihards Kotlers, Head of Energy Solutions at Enefit.

Saving electricity is important for all market participants, both businesses and individuals. As competition in the market is fierce, companies are looking for solutions to manage their electricity costs effectively in order to improve their competitiveness. Enefit focuses on providing support to companies in reducing their energy costs directly, including offering various methods of purchasing electricity, solutions for self-generated and stored renewable energy, smarter management of production equipment, participation in electricity balancing markets, and support for the development of electric vehicle infrastructure. Energy-related investments require a comprehensive long-term plan and a reliable partner to manage these investments throughout the life of the solution.

An automated and easy-to-manage solution

Over the past year, the need for energy storage solutions has also become more pressing, leading to a surge in interest in battery technologies among businesses. Energy storage makes it possible to consume surplus energy generated by solar panels at times when the company needs it. The aim is to generate and consume as much of the electricity produced as possible, so that it does not have to be sold to the grid, especially at times when the price of electricity is low or even negative.

The price of electricity fluctuates during the day and can decrease or increase significantly, especially during sunny periods. Last year, electricity prices fluctuated significantly, changing by an average of 59% during the day. Self-generated energy and batteries help to avoid these market fluctuations. By using batteries, companies can manage their resources intelligently: surplus energy is stored and sold by a smart management system when the price on the grid is highest, for example around 6 p.m. "The fact that everything happens automatically is the biggest advantage of this complex solution. The management system is designed to ensure maximum return for the customer in all markets," emphasizes Rihards Kotlers.

Batteries help avoid electricity price fluctuations

Solar parks generate energy most efficiently from spring to autumn at certain times of the day, but batteries work every day, every hour. By installing a battery, electricity purchased cheaply from the grid can be stored and sold back to the grid or used for your own needs at times when energy is expensive. The main goal is to cover the customer's own needs so that they do not have to buy more expensive electricity from the grid. There are also customers who choose to invest only in batteries without installing a solar park. Rihards Kotlers emphasizes that this is a good time to invest: as lithium prices have fallen on the global market, battery prices are currently declining.

Cost stability even in volatile market conditions

In February this year, the entire Baltic region will be disconnected from the Russian power grid, or desynchronized, and connected to the continental European power grid. Desynchronization poses significant challenges for the electricity system, but also opens up opportunities to promote grid stability with stored energy and generate additional revenue.

Augstsprieguma tīkls has created new grid frequency regulation markets in which any manufacturing company can participate with its own electricity-consuming equipment, by increasing or decreasing their consumption at times when it is necessary to stabilize the grid frequency, and the manufacturing company will receive additional compensation for this flexible consumption. This may include electric furnaces, boilers or freezers, the operation and production process of which will not be significantly affected if the equipment's operating schedule is adjusted to market demand. If the company does not have such equipment, a battery system is best suited for this purpose, as it will not affect other production processes and will always be ready to quickly consume energy from the grid or, conversely, – quickly transfer energy to the grid when necessary, allowing the owner to make a profit and stabilize the grid.

From the customer's point of view, investing in batteries automatically provides the opportunity to store electricity during cheap hours and sell it during expensive hours, or use the stored energy for their own consumption. Batteries also provide an opportunity to participate in newly opened grid frequency stabilization markets and protect your production process against unplanned grid outages.

Rihards Kotlers sums it up: "We are facing major changes – when Russia's grid is desynchronized and we connect to the European system, we will have opportunities to participate in balancing markets, where companies can earn additional income."

Where to start?

In order to identify a company's energy consumption needs, production capacity and customer investment opportunities, it is important to have ongoing cooperation between the electricity solution provider and the customer.

Enefit offers smart energy solutions, their installation and management during operation. Cooperation does not end with the installation of equipment – real cooperation begins with the management of the energy solution. Enefit offers both the most suitable technical solutions for its customers and a management platform. "We are able to manage energy storage solutions in such a way as to ensure the highest return for the customer. This creates a lasting partnership with the customer, working together throughout the entire service life cycle," adds Rihards Kotlers.

To receive a personalized offer for energy storage solutions, please fill out the consultation request form on the Enefit website.