Structured Summary
- Thermal energy storage can reduce energy costs by shifting energy usage to off-peak hours, when electricity rates are lower.
- It can also reduce environmental impact by allowing for the integration of renewable energy sources and reducing the need for fossil fuel-based power generation.
Reducing Energy Costs
Thermal energy storage systems can store excess energy during times of low demand and release it during peak hours, reducing the need to draw electricity from the grid when rates are highest. This can result in significant cost savings for businesses and homeowners alike.
Reducing Environmental Impact
By enabling the integration of renewable energy sources such as solar and wind power, thermal energy storage can help reduce reliance on fossil fuel-based power generation. This can lead to a decrease in greenhouse gas emissions and overall environmental impact.