With technology currently commercially available on the market, you can cost-effectively generate electricity with solar photovoltaic (PV) systems and store this energy for use at night with lithium ion batteries.
As policymakers and energy consumers find ways to reduce carbon emissions, solar and wind energy is looking more and more attractive as energy sources. Unlike coal, oil and fossil gas, wind and solar resources are both free and renewable. An accelerated transition to electrification powered by renewable energy is our best bet to combat the climate crisis.
In fact, the solar revolution has emerged as a the cheapest response to the climate catastrophe. Currently, the renewable energy market is booming. The International Energy Agency (IEA) announced that solar is providing the cheapest energy the world has ever seen. Analysts expect a “future of insanely cheap energy” and a “fundamentally different world.”
This is exciting news!
For homeowners and people dreaming of building their own home, the renewable energy technology widely available on the market today can power all their electrical needs 24/7. When this technology is combined with stationary battery storage, the entire electrical system becomes self sustainable. There is no need to purchase any fossil fuels to power your life.
The latest and greatest sustainable energy systems consist of solar PV panels, inverters and state of the art lithium ion batteries with energy management systems. An inverter transforms the direct current (DC) produced by the panels into alternating current (AC) which powers the lights, devices and appliances in your home. At night and during overcast days, the stationary battery feeds the storage inverter with the solar and wind energy stored in the form of DC.
It is both physically possible and economically affordable to meet 100% of electricity demand with the combination of solar PV, wind, and batteries (SWB) by 2030 across the entire continental United States as well as the overwhelming majority of other populated regions of the world.
RethinkX, Disruption, Implication, and Choices: Rethinking Energy 2020-2030 100% Solar, Wind, and Batteries is Just the Beginning
Lithium-Ion Batteries
In recent years, lithium-ion batteries have become cheaper and more widely available as wireless electronics have become more ubiquitous. Actually, the Nobel Prize in Chemistry 2019 was awarded to John B. Goodenough, M. Stanley Whittingham and Akira Yoshino for the development of the lithium-ion battery. Lithium-ion batteries enabled the development of laptop computers, mobile phones, electric vehicles and the storage of energy generated by solar and wind power. This rechargeable battery laid the foundation for wireless electronics.
In fact, BloombergNEF (BNEF) – a strategic research provider that shares insights regarding the evolving energy economy – forecasts a 122x increase in global energy storage from 2018 to 2040.
It becomes a virtuous cycle. As more people adopt renewable energy technologies, the number of lithium-ion batteries also increase making both stationary battery storage and electric vehicles (EVs) cheaper due to economies of scale. This same SeekingAlpha article notes that BloombergNEF reported in 2019, that battery prices have dropped 87% in real terms to $156 per kilowatt-hour (kWh) in 2019 from $1,100/kWh in 2010. BNEF stated that battery pack prices have fallen 18% for every doubling of cumulative manufactured volume. They expect this relationship to hold for at least the next 10 years. Battery pack prices are forecasted to drop to $93/kWh by 2024 and $61/kWh by 2030.
In particular, lithium iron phosphate (LiFePO4 or LFP) batteries are low cost and low toxicity. Additional benefits of LiFePO4 batteries include well-defined performance and long-term stability. Users of LiFePO4 batteries can be rest assured that conflict minerals were not involved in the manufacturing of these batteries since they are cobalt-free.
Cypriot Solar PV Market
The vast majority of the Cypriot solar PV installation market has not kept up with these advancements in renewable energy technology. More PV installations could and should be paired with stationary battery storage. Sustainable energy systems ensure that homeowners have the capability to power their homes with solar energy at night and protect against electrical utility power outages year round.
While some installation companies do design, install and maintain off-grid energy systems in Cyprus, developers primarily focus on grid-connected net-metered residential and commercial properties. With an eye on profit margins and government subsidies, PV installation companies also focus on developing large solar PV farms/parks.
Lastly, many existing solar PV installers pair solar PV systems with outdated battery technologies such as lead acid. As opposed to the 100% depth of discharge of a lithium-ion battery, lead acid batteries only have a depth of discharge of 50%. This means that users can only discharge half of a lead acid battery’s rated capacity.
Why not lead acid batteries?
In the past and present for the vast majority of solar PV installers on the island, off-grid energy systems include lead acid batteries.
In the recent past, lead acid batteries paired with solar PV was the energy storage technology of choice. For some rural properties, running either overhead or underground power lines to connect to the electrical utility is cost prohibitive. As lithium-ion batteries further decrease in costs, off-grid PV systems with these batteries will increasingly become a more economical option instead of conventional lead acid batteries.
Let’s set aside economic reasons and focus on health. Lead acid batteries depend on a large amount of hazardous and restricted lead. Lead is a highly toxic metal that produces a range of adverse health effects, especially in young children. Lead exposure has been associated with increased risk of lung, stomach, and urinary-bladder cancer in diverse human populations.
Another key disadvantage of lead acid batteries is that they contain sulfuric acid – a highly corrosive chemical that can potentially explode when in concentrated form. Sulfuric acid causes direct local effects on the skin, eye and respiratory and gastrointestinal tracts when there is direct exposure. Due to the risk of severe chemical burns by sulfuric acid exposure, lead acid batteries must always be stored upright in a secure, covered location on a sealed surface as they are prone to leaking.
Over the next decade, existing off-grid PV installations with lead acid batteries at their end of their product life will need to be replaced. Lithium ion batteries will be the best choice for the health of your family, your finances and our planet.
Your sustainable energy system integrator!
Considering recent developments in renewable energy technologies, the potential for cost competitive off-grid solar PV systems paired with state of the art lithium ion batteries looks bright.
You may be considering an entire sustainable solution to avoid fossil fuels all together to power your electrical needs. Elektra Energy is here to help you transition away from noisy and dirty fossil fuel powered generators. We also design and build systems free of toxic lead acid batteries.
The service and technological solutions Elektra Energy provides will save you money in the long run. These renewable energy sources (RES) only require solar radiation and wind as external inputs. In contrast, the constant operation of fossil fuel generators are subject to the variable costs of fossil fuels such as petrol, propane and diesel.
As more people become aware of the existential threat of the climate crisis, sustainable energy systems become more and more attractive. In addition, the cost of this equipment is becoming even more accessible to broader segments of society. Research and development into renewable energy technologies continue to produce breakthroughs in efficiency. This movement toward full-electrification continues to grow spurred on by the climate emergency.
At near-zero marginal cost, solar PV, onshore wind power and energy storage will continue to grow exponentially worldwide. Elektra Energy is well aware of this unfolding disruption to conventional energy assets such as coal, gas, nuclear and hydro power plants. We recommend building a renewable energy microgrid of your own to power your life.
In Cyprus, connecting to the electrical grid means being reliant on a power monopoly that burns mazut – a heavy, lower quality fuel oil used in powerplants – to generate electricity. If you think there is another way, you’re absolutely correct. We can rely on renewable energy sources such as the sun and wind to fully transition away from fossil fuels.
Even if you are not particularly concerned about the climate crisis, you may want to simply save money. The sustainable solutions Elektra Energy provide, ensure that you can power your electrical needs as economically as possible. We will design an off-grid system that fits both your budgetary and energy needs. A custom system can power your home, power a pump for a well or pool, charge an EV, electrify a recreational vehicle (RV), a tiny home or shed.
In summary, sustainable energy systems require freely available renewable energy sources such as solar and/or wind as well as the proper equipment to generate and store electricity. Elektra Energy is your resource to build a system that fully powers a sustainable lifestyle. Feel free to reach out to us for more information.