Electricity storage is a profitable energy investment
Electricity storage facilities have many cost-effective applications in the electricity market, industry and business development. Sweco offers comprehensive solutions for your project from design to implementation, and we help you find suitable operating solutions for electric batteries.
Planning and consulting of electricity storage facilities
Sweco’s energy experts will help you at every stage of the electricity storage investment, from preliminary studies and permits to overall planning and construction management. We also support the competitive tendering of the battery pack project by, for example, alternative comparisons of operating partners and equipment selections and cost calculations.
An electricity storage facility is a profitable investment
An electricity storage facility refers to an electrochemical electric accumulator in which electricity is stored in battery materials as chemical energy in a fairly straightforward manner and with small energy losses. Battery packs are energy-efficient solutions for short-term electricity storage, and technological development has improved, among other things, the lifespan and efficiency of electric batteries.
The investment costs of electricity storage facilities have also decreased significantly. The energy transition and market reforms have created new applications and business models for batteries, which improves the profitability of investments. There are good prerequisites for the economic profitability of electricity storage facilities in both smaller and industrial-scale implementations.
We help estimate the investment and operating costs of the electricity storage facility and plan the optimal implementation method on a case-by-case basis.
Battery applications
The financial return of electricity storage facilities is improved when the battery pack is used in several different markets and purposes. There are many profitable applications for electric batteries, the most common of which are trading in the electricity market and frequency support for the main grid, i.e. the reserve market.
We can also help you find other sensible uses for batteries. The electricity storage facility can achieve additional income and cost savings through demand response. Electricity storage facilities can be used to cut consumption peaks and hedge against fluctuating electricity prices. In addition, the electricity storage facility supports the utilisation of renewable energy and, for example, the deposit of solar energy.
With an electric battery, it is possible to avoid or postpone expensive network investments, because operations can be developed regardless of the capacity of the transmission and distribution network.
Electricity storage facilities can be used to protect processes sensitive to electricity quality, such as voltage and frequency fluctuations. In addition, batteries act as a backup power solution and secure the supply of electricity in exceptional situations.
Benefits of electricity storage facilities
- Electricity market trading
- Reserve market trading (supporting the grid)
- Peak wear cutting
- Load transfer
- Integrations of renewable energy production
- Security of electricity supply in exceptional situations (reserve power)
- Protection against frequency and voltage fluctuations, so-called frequency and voltage throws. Electricity quality solutions
- Replenishment of transmission and distribution grid capacity without network investments.
Advantages of electric batteries in storage and choosing a suitable solution
Electricity storage facilities benefit many operators regardless of the sector. There are many size and operation options available, both as part of existing processes and as a standalone plant. Often, own electricity consumption is an advantage, but an electricity storage facility can also be implemented without own consumption.
The electricity storage facility is a space-efficient and scalable energy storage solution that is quick to install and can be easily expanded. Electric batteries have a high energy density, so sufficient energy storage capacity can be achieved with a compact solution. Electric batteries are compatible with a wide range of processes, and energy can be discharged efficiently.
We help you find the best electricity storage solution and battery technology for each application. Almost all electricity storage facilities consist of lithium-ion (Li-ion) batteries, but different battery and cathode materials affect the technical properties of the solution, such as energy density and fire safety. We are also constantly researching new electricity storage technologies.
Sweco’s services in battery industry projects
Sweco is strongly involved in building the battery value chain. We offer responsible solutions for the entire battery value chain, from the production of battery materials to battery manufacturing and the implementation of operational solutions. Our range of services includes the entire life cycle, from pre-planning in the preparation phase of projects to environmental impact assessment (EIA), and permit processes, as well as planning, project management and site services during the project implementation phase.
In addition, we help meet EU-level requirements for responsible recycling and reuse of battery materials, which reduces the need for virgin raw materials. Together, we will implement investments in the battery industry in a way that takes social, environmental and social responsibility into account.
Our experts have been involved in several significant investments in the Nordic countries. Contact us and we will help you plan and implement electricity storage for your project.
Erkki Härö
Energy expert, industry