How does battery storage impact the overall cost savings for businesses with electric vehicle fleets?
Incorporating battery storage can significantly enhance the cost-effectiveness of managing electric vehicle (EV) fleets for businesses. By storing energy during off-peak hours when electricity rates are lower, businesses can reduce their reliance on the grid during peak times, thus cutting down on energy costs. This strategic use of stored energy not only optimises the charging process but also provides a buffer against fluctuating energy prices, leading to substantial savings over time.
Furthermore, battery storage systems can enhance the resilience of an EV fleet by ensuring a stable and reliable power supply, even during grid outages. This reliability is crucial for maintaining operational efficiency and meeting delivery schedules, thereby safeguarding revenue streams. By integrating battery storage into their energy management strategy, businesses can achieve a more predictable and manageable energy expenditure, ensuring both economic and operational benefits.
Firstly, battery storage allows businesses to take advantage of time-of-use electricity pricing. By charging batteries when rates are low and discharging them when rates are high, businesses can significantly reduce their energy costs. This practice, known as peak shaving, ensures that the fleet is charged cost-effectively, maximising savings on electricity bills.
Secondly, battery storage systems can help businesses avoid demand charges, which are fees based on the highest rate of electricity consumption during a billing period. By using stored energy to supplement power from the grid during these peak times, businesses can lower their maximum demand, thus reducing these additional charges and further enhancing cost savings.
Lastly, the integration of battery storage with renewable energy sources such as solar power can amplify savings. By storing surplus solar energy, businesses can utilise this free resource to power their EV fleets, decreasing reliance on the grid and further reducing operational costs. This synergy not only supports financial savings but also aligns with sustainability goals, enhancing a business’s environmental credentials.
