Pros and cons of virtual energy storage

What are the pros and cons of a virtual power plant?

Pros: Some VPPs offer an upfront discount on the cost of a battery. This can take a battery from being ‘too expensive’ to ‘worth considering’. The value and format of the discount vary between programs, with some offering much more than others. Several virtual power plant programs offer payments for energy your home supplies to the grid.

What are the benefits of a virtual battery?

Continuous energy delivery: Virtual batteries allow the constant delivery of electrical energy at any time and power. Reduced energy costs: By storing surplus solar energy, virtual batteries can reduce long-term electricity costs as users can rely less on grid power and avoid high peak-hour energy prices.

Why are virtual power plants important?

So to keep the grid balanced and ensure power is available whenever it is needed, network operators are looking for ways to store renewable energy. Virtual power plants are emerging as an important part of the mix, harnessing the collective power of Australia’s behind-the-meter energy assets. How do virtual power plants work?

Are virtual power plants better than new power plants?

Virtual power sources typically are quicker to site and build, and can be cleaner and cheaper to operate, than new power plants. Virtual power plants are more resilient against service outages than large, centralized generating stations because they distribute energy resources across large areas. Virtual power plants aren’t new.

Could virtual power plants reshape electric power?

Virtual power plants could help reshape electric power into an industry that’s more nimble, efficient and responsive to changing conditions and customers’ needs. Some power plants don’t have massive smokestacks or cooling towers – or even a central site.

Why are virtual power plants more resilient than centralized generating stations?

Virtual power plants are more resilient against service outages than large, centralized generating stations because they distribute energy resources across large areas. Virtual power plants aren’t new. The U.S. Department of Energy estimates that there are already 30 to 60 gigawatts of them in operation today.