Maximizing Cost Savings: How Smart Batteries Revolutionize Energy Expenses

Intelligence has always been attractive.  More than a few people have it as a checkbox in their quest for an ideal partner. Interestingly, with the evolving digital world, intelligence is not only on the must-have list of partners, gadgets and equipment are also required to be smart to compete in the marketplace.

Now, energy expenses in homes and businesses keep increasing, and many are groaning under the burden. It’s a catch-22 situation – you hate the growing costs but can't do without the energy. What do you do?

Take the intelligence route. Go for smart batteries. You’ll save wads of cash.

Before you raise your hands in confusion and despair, relax. Yes, intelligent batteries sound complicated but they’re actually simple to understand and adopt if you have the right information. And that’s why you’re here – to be well-informed about saving energy costs through intelligent batteries. Let’s get to business, shall we? 

Rising energy costs and the need for an intervention

Gas and electricity prices have hit the roof in the last couple of years and it doesn't look like they’re backing down anytime soon. The prices were at an all-time high in 2022, following the Russian invasion of Ukraine. Guess what? The war is still on and gas and electricity are still pricey. 

The impact of this high energy cost on households and businesses is huge, making everyone look for ways to reduce energy expenses. Some have had to cut down on their energy needs, while others have had to sacrifice basic necessities so they can accommodate their energy needs. Whatever side of the divide you find yourself, it is clear that there’s a need for an urgent intervention. 

Enter smart batteries

There are two main responses to rising energy costs – reduce your energy use or increase your energy budget to meet your needs. But what if there’s a third option? What if you can meet your energy needs and, at the same time, reduce your energy bills? Yes, it sounds far-fetched but intelligent batteries make it possible.

So, what are smart batteries? They’re batteries that have their own battery management system (BMS). They contain internal sensors and an electronic circuit that can sense current or voltage levels. That’s not all; these intelligent batteries can detect their own state of health and even communicate it to you.

It’s like your baby saving you the trouble of guessing what’s wrong with them and telling you in advance when they’re about to feel hungry or fall ill. That would be magical, wouldn't it? This special battery tells you when it's low and needs to be charged, when there are irregular temperatures and even when it's damaged or getting old and about to die. 

Intelligent batteries are usually a part of a bigger system or setup. For example, your car battery is a part of your car. It doesn't work on its own and the car can't work without it. Other examples are your computer, phone and solar technology. 

These batteries are very efficient as they use data, artificial intelligence, and machine learning algorithms to improve their performance. The special intelligence these batteries possess makes them a lasting solution to high energy costs.

Two ways to leverage smart batteries and save energy costs

The question on your mind now (and rightly so) is how you can leverage battery intelligence and save energy bills. There are two major ways to benefit from this investment journey.

  1. Get an electric vehicle

  2. Use solar technologies

Electric vehicles

An electric vehicle (EV), also referred to as battery electric vehicle (BEV), is a vehicle powered by electricity. This electricity is drawn from a battery and can be charged from an external source. Instead of an internal combustion engine, this vehicle has an electric motor powered by a large traction battery pack. 

An electric car does not have regular fuel components found in gasoline cars. Also, it doesn't emit any exhaust from a tailpipe. There are two types of electric vehicles: fully electric and hybrid. The intelligent batteries in these vehicles help save energy costs.

Solar technologies

Do you know that the amount of sun we get on Earth in less than two hours is enough to handle global energy needs for a whole year? Yes, solar energy is that potent. 

So, how do smart batteries come in? They’re part of the solar technology system. Here’s how the technology works. Solar technologies convert the sun into electrical energy through photovoltaic (PV) panels, also known as solar panels. 

This PV charge produces direct current (DC). But what we need is an alternating current (AC). To get this, we need an inverter to convert the DC to AC. After the conversion, the energy is then stored in batteries. The smart battery captures all the solar energy during the sun’s peak period and makes it available when needed. 

How much do solar panel systems cost?

A common question most people ask before investing in solar technology is, “How much do solar panel systems cost?” This is a valid question, as there's a need to consider all variables before making a decision. Now, there isn't a straightforward answer to this question because the cost of solar panels depends on various factors.

These factors include:

  • Roof structure and angle

  • Roof condition

  • Accessories 

  • Local costs like connection fees and licensing 

  • The installation professional 

All these factors are reasons why a ballpark figure can’t be given to a request for the cost of solar panel systems. The best way to know how much a solar installation for your home or office will cost is by consulting a professional. They will assess your building and these other factors to give you a quote. 

5 Ways an electric vehicle helps you save energy expenses 

It’s a smart move to evaluate investment opportunities before jumping in. An electric car is an investment; when you get one, you'll leverage smart batteries and save money. It gets even better if you run a fleet of cars in your business. You get to save on many fronts. Here are five ways intelligent batteries in electric vehicles help you save energy costs.

  1. Zero fuel bills

Your days of fuelling your car are over with electric vehicles. Think about how much you spend on fuel monthly and imagine saving all that money. Because these cars are run on battery intelligence, you get to save a fortune without cutting down on your road trips. 

  1. Low maintenance 

Unlike gasoline cars, electric vehicles have fewer parts and a simpler structure. This reduces its chances of breaking down often. Also, you save money you would have spent on fluids and brake pads with a combustion engine car. If well maintained, your EV can serve you for a longer period, saving tons of money in the long run. 

  1. Battery analytics 

The data processing and analysis you get from intelligent batteries is another reason to invest in an electric car. Elysia battery analytics, for example, gives you up-to-date actionable insights that help you reduce incident risks. Being able to detect anomalies and faults early saves you money on repairs. 

  1. Good second-hand value 

Because your electric vehicle needs little maintenance, you get a good price for it when you're reselling, unlike a gasoline car. You not only get good money for your second-hand car, you get to sell it faster. 

  1. Improved technology and luxury at low cost

Electric cars offer the latest technology and luxury at an affordable cost. You pay considerably little for top-of-the-line technology and luxury, saving you money.

3 Ways solar technology helps you reduce energy expenses 

Imagine for a moment not getting energy bills in your home for months, or getting just a fraction of what you’re getting now. That’s what solar technology with intelligent batteries can do. If your aim is to maximize energy cost savings, you should consider taking advantage of this technology. Here are three ways solar energy helps you save money. 

  1. Zero or less electricity bills

Do you know some people are completely off the electricity grid? They actually produce their own energy and don't incur bills from any energy company. For this set of people, the rise in energy cost is like a foreign language; they don't understand. 

When you use solar technology for power generation, you stop worrying about electricity bills. And even if you still pay energy bills, it will be very low compared to when you’re totally dependent on the grid. 

  1. Net metering

Solar technology not only allows you to save money on your energy consumption but also allows you to sell excess energy to your utility company through net metering. Selling this excess energy gets you credit that can help lower your electricity bills in the future.

  1. Double savings on electric vehicle charging

Leveraging solar energy to save costs is a brilliant idea. Now, the picture also uses an electric vehicle. That’s a super brilliant idea. All you need is a charging port in your home and you can use solar energy to power your electric car. And with a smart battery, you have enough energy stored to charge your car any time of the day.

Stay on the smart lane and make huge savings

We live in a smart world – smart phones, smart watches, smart homes, smart cars, and smart batteries. These technologies are developed to make our lives and work easier, more productive, time-efficient, and cost-saving. 

Smart or intelligent batteries are part of these smart technologies and if you want to reduce energy expenses, you should consider them. To save money through smart batteries, opt for a smart car and leverage solar technology. 

A smart car offers zero fuel bills, low maintenance, battery analytics, good resale value, and improved technology and luxury at a considerably lower cost. With solar technology, you pay zero or less energy bills, have access to net metering, and save double with an electric car. 

It doesn't get better than this, does it? Actually, it does. Smart batteries keep evolving and offering better features that boost performance, extend battery life and enhance safety. 

Moyofade Ipadeola is an SEO Writer, UX Writer, and Editor. Witty, loves personal development and helping people grow. Mo, as she’s fondly called, is fascinated by all things tech. She can be reached on Linkedin

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