What is Home Energy Storage?
Home Energy Storage is the present and the future.
Home Energy Storage is undoubtedly more vital today than ever before. The industry, which grew exponentially in 2015, is now projected to be worth $2.5 billion. Today, there are a number of energy storage companies offering products to store energy to power their home or small office. One of the leaders in this industry, Tesla, and their Powerwall device, serve as a viable solution and a highly valuable product.
Simply put, Home Energy Storage is the act of storing energy to use later to power your home or small office. It involves a system to capture energy from a source such as solar, wind, or electrical utility grid, using devices like batteries, capacitors, and controllers. One primary benefit of Home Energy Storage is reduced electricity costs, because it allows the consumer to buy energy during off-peak periods when rates are lower, and store it for use during peak periods when rates increase. Additionally, utilizing a Home Energy Storage system reduces our carbon footprint, allowing for less energy consumption while maintaining our quality of life and standard of living.
While Home Energy Storage is a remarkable technological advancement, it is still evolving. While devices like the Tesla Powerwall are undoubtedly innovative, they do come with drawbacks. Many home energy units are large and clunky devices that don’t fit conveniently into a home or otherwise take up significant space. In addition, many of the devices are new, and while home energy storage technologies are rapidly developing, there are still limitations when it comes to integrating with Internet of Things (IoT) smart devices like Amazon’s Echo and Ring devices, and Google’s Nest devices, to name a few.
Nevertheless, the days of burning coal or wood to generate energy are diminishing, Home Energy Storage is the present, and the future!