The application of battery energy storage systems (BESS) is a key element on the road to energy transition, helping to speed up the replacement of fossil fuels with renewable energy in many ways. MET Group, dedicated to supporting a sustainable energy future for Europe, has invested in battery storage technology in several countries.
MET was the first company in Hungary to install the “2-hour” battery energy storage systems (4 MW / 8 MWh Tesla Megapack 2 products) in 2022, which are of a more useful duration and are suitable for more applications (as compared to previously installed batteries with a duration of less than an hour). MET is now building another, ten times larger system with total nominal capacity of 40 megawatts (MW) and a storage capacity of 80 megawatt hours (MWh). In addition, MET Group has purchased a 100% shareholding in Comax France, an owner, operator and developer of battery energy storage systems, as well as combined heat and power (CHP) plants.
Here are the 10 most important facts about battery energy storage systems:
- A battery energy storage system is a group of devices that enable excess electricity from renewables, like solar and wind, to be stored and then released when the power is needed the most. Therefore, battery storage is an increasingly important bridge between unpredictable, weather-dependent renewable sources and the volatile electricity demand.
- Battery storage is essential for increasing the penetration of new renewable sources into the energy system. Thus, it is crucial for reducing reliance on fossil fuels and greenhouse gas emissions into the atmosphere.
- The other major benefit of storage systems concerns the transmission grid. The capability to quickly charge or discharge makes it possible to cope with any imbalances between supply and demand: this makes electricity grids more stable and reliable, reducing the risk of service disruptions or blackouts.
- An additional advantage of battery storage system technology is scalability. Thanks to their modular design, these technologies can be quickly installed and offer great flexibility – battery blocks can be easily configured to use cases and, if it is necessary later, more blocks can be added to a plant already in operation, increasing its power and capacity.
- Intelligent battery management systems (BMS) use predictive algorithms to optimize the utilization of battery cells. Computerised control systems, so-called energy management systems (EMS), are used to optimize use cases between BESS, other coupled assets in the portfolio, and the markets: load-shifting, peak-shaving, balancing services to the grid operator or the portfolio.
- Different energy storage solutions are available, but lithium-ion batteries – the most common in electrical devices and electric cars – are currently the dominant storage technology, due to their cost-effectiveness and high efficiency.
- The storage capability of BESS systems can be marketed to energy companies or grid operators, responsible for maintaining a secure operation of the electricity grid. BESS, when combined with advanced control systems, can optimize the operation of the grid, allow more renewable-generated energy to be utilized, leading to improved efficiency of green assets and reduced total costs of electricity production.
- Energy-intensive companies (or those with periodically high consumption) can regulate and harmonize the amounts of electricity consumption. For instance, they can combine BESS with rooftop solar, to decrease consumption from the grid in peak demand times when prices are high.
- According to the International Energy Agency, the global market for battery energy storage systems doubled in 2023, reaching over 90 GWh and increasing the volume of battery storage in use to more than 190 GWh. This increase was driven almost entirely by China, the EU and the USA, which collectively accounted for nearly 90% of the added capacity.
- According to the European Battery Alliance, Europe’s battery market is expected to be worth EUR 250 billion in 2025. They state: “The establishment of a complete battery value chain is imperative for a clean energy transition and a competitive industry.”