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Investing in the renewable energy revolution is lucrative, no matter where you are. In 2022, the global renewable energy market was estimated at US$ 970 billion.
Even a tiny bite of this international market would make anyone incredibly wealthy.
A specific route into this is investing in batteries and creating a battery storage farm.
But what is a battery storage farm?
What Is a Battery Storage Farm?
A battery storage farm is a type of energy storage power station that uses a group of batteries to store energy.
Unlike other power station alternatives, battery storage facilities can be set up quickly without mechanical parts. A helpful role that a battery storage farm can play is dampening fast oscillations that happen when electrical power networks are operating at capacity.
The Northern Cape’s Kenhardt Solar Power Complex Station is currently on the list of the world’s largest grid battery storage units.
Completed and turned on in December 2023, the battery energy storage system has a capacity of 225MW/1,140MWh. It modulates the power output to discharge a consistent 150 MW for 16.5 hours daily between 05:00 and 21:30.
While this is a huge operation, you can build your own battery storage system. Mainly, this is an option for farmers who have several tenants.
However, there are numerous benefits to becoming a battery storage farm. Here are some key advantages:
Providing Energy Independence
Landowners who build their own battery storage facility can store renewable energy generated from sources like solar panels, making them less dependent on the utility grid.
Being able to provide backup power during power outages to tenants is priceless, especially considering that in 2023, there were almost 6,950 hours of load shedding.
So, building a battery storage system can provide a reliable backup power source.
Cost Savings
While the capital requirement to start a battery storage farm is high, you can quickly recoup that investment and start saving.
Eskom has been toying with adjustable tariff charges for its consumers, which means that by
using stored energy during peak hours when electricity rates are highest, you could reduce your energy bills.
However, it’s a bit more complicated than that and is bound to go through several revisions.
Environmental Benefits
Most battery storage facilities store and support renewable energy operations. By storing this energy, users can now use it more effectively when needed.
This, in turn, helps reduce users’ carbon footprint and lessen individuals’ reliance on fossil fuels.
Enhancing Grid Stability
As mentioned, battery storage facilities can balance supply and demand on the grid, reducing the likelihood of blackouts. They can also help maintain electrical frequency stability.
By stabilising this frequency, you will be helping to prevent power surges from damaging your home’s devices.
Increasing Property Value
Many South African home buyers are looking for properties with renewable energy storage systems.
While reports from local institutions can vary about whether South Africans are interested in off-grid solutions, the Pam Gold Properties 2023 survey showed that buyers want solar systems in their new homes.
Also, when a home has battery storage, the property’s appraisal value will increase.
Incentives and Rebates
Many countries and foreign regions worldwide offer government incentives, including in South Africa. These incentives include:
- Tax credits
- Rebates
- And other financial benefits of installing battery storage systems (selling electricity back into the grid).
Investing in alternative energy now and becoming a battery storage farm is a step towards becoming an energy entrepreneur.
By becoming an energy entrepreneur, you’ll be able to help many meet various energy needs, contribute to financial savings, develop environmental sustainability, and increase energy security.
If you’re ready to start your journey of building a battery storage farm, we’re here to help.