by Vincent Ambrose, CCO of FranklinWH
The 2015 United Nations Paris Agreement put nations on a mission to reduce the impacts of climate change by cutting back significantly on greenhouse gas emissions. Ultimately, the UN called upon nations to achieve net-zero emissions by 2050, a goal that it described as “one of the greatest challenges humankind has faced.”
As nations establish strategies that can help them to reach the net-zero goal, energy storage has the potential to play a key role. Energy storage, which is commonly used in conjunction with home energy ecosystems that capture energy from renewable sources, reduces reliance on energy grids and the conventional sources used to power them.
The UN reports that the energy sector is the source of approximately 75 percent of the world’s greenhouse gas emissions. A widespread shift to home-based energy storage systems that can store excess energy from power sources such as batteries, EVs, renewable energy, and traditional power grids could empower strategies that reduce reliance on coal, gas, and oil-fired power production — the main drivers of the energy sector’s harmful emissions.
The problem with conventional energy sources
Recent statistics show that over 80 percent of global energy comes from fossil fuels. Burning those fuels releases carbon dioxide and other gases that have become known as “greenhouse gases” for their effect on the Earth’s environment.
When energy from sunlight enters the Earth’s atmosphere, some of it is reflected back by the planet’s surface. Greenhouse gases absorb the reflected energy, preventing it from exiting the Earth’s atmosphere. The more energy is trapped by the gases, the warmer the Earth’s environment becomes.
In comparison, renewable energy sources — solar, wind, hydro, and geothermal — generate electricity while producing little to no greenhouse gases. As a result, they are typically considered sources of “clean energy, making them a critical component of the effort to achieve zero emissions.
The problem with renewable energy sources
While renewable energy sources provide a solution for harmful energy emissions, they also introduce a new problem. The top forms of renewable energy — solar and wind — only provide intermittent energy. When the sun sets or the wind stops blowing, those sources can no longer meet energy needs.
Yet, despite the intermittent nature of key renewable energy sources, renewable energy has been widely adopted as a supplement to fossil fuels, with statistics showing it currently provides approximately 29 percent of global energy. However, only a complete shift to renewable sources will achieve the goal of net-zero emissions.
How energy storage empowers an emission-free energy future
Energy storage solutions dramatically increase the potential of renewable energy by converting it from an intermittent source to one that is always available. It makes solar energy, for example, a 24/7 solution instead of one that is only available when the sun is shining.
Although the concept of energy storage is not new, the efficiency needed to make it a viable option to create a total energy ecosystem for homeowners has only recently been achieved. Lithium-ion batteries, for example, are a recent technology development that is more efficient than traditional lead-acid batteries. They introduce the capability to provide affordable batteries that can store more energy for longer periods, creating the capacity to capture and provide solar energy for nighttime power needs.
The development of lithium iron phosphate (LFP) batteries further increased the potential of energy storage systems because they provide greater chemical stability, which makes them highly resistant to overheating. They also have a longer lifespan, which reduces homeowners’ costs associated with battery replacement, and their development is a core factor in minimizing contact with conflict zones by eliminating the need for cobalt.
The intelligent energy management systems and home storage-based ecosystems that are emerging today add to the value of energy storage solutions by increasing their efficiency. They facilitate the combination of a variety of energy sources in one system, automatically leveraging the most efficient source to optimize overall system performance.
The latest advances in energy storage technology have made renewable energy solutions more affordable, accessible, and reliable. They’ve created new opportunities for use, which in turn is creating new opportunities for entrepreneurs to enter the renewable energy market and foster further adoption.
Growth in the energy storage industry will allow for more energy consumers to join the mission of achieving net-zero emissions. The industry provides the solutions needed to make emission-free power a practical and preferable option for everyone.
Vincent Ambrose, CCO of FranklinWH, oversees the company’s commercial strategy and market expansion efforts. With over two decades of experience in the renewable energy and technology sectors, Vincent has a proven track record of driving growth and building strong industry partnerships. He is passionate about accelerating the clean energy transition and delivering innovative energy solutions for homeowners and businesses alike.