Introduction

Electrical energy is readily available energy at the lowest price and is an invisible, omnipresent product and has been considered as common consumer goods. The making of electricity is vastly consolidated at present time and its end users are unable to get this. Daily and seasonal needs of the electricity determines the loads leveling at the initial stage but also by the insufficient production due to the involvement of secondary modes like as thermal and hydraulic plants. Stored energy also used by these plants such as water is used for the pumped storage plants and fossile fuels are used for the thermal plants. The difficulties of alleviating the power linkage is increased because of the delocalized electricity production and by introducting the variables, fluctuating sources such as renewable energy (wind turbines solar etc.), it is mainly decreased because of the demand supply difference. It is thus appropriate to produce energy by transmitting, converting and storing it. But it is problematic to store because storage requires huge, expensive apparatus although it becomes a need. It is important to know that the centralized making of electricity promotes the growth of a complicated arrangement of energy production transmission. The enrgy content, transformation approaches for the storage of alternate current was unreliable, very expensive and were not in trend in the pre 1980. The thought that electricity cannot be stored is brought about by the datum that electricity is produced in bulk, transferred and used in alternative current. But now it is declared that the electricity can be stored even in indirect storage.

Technical and Financial benefits of Energy Storage

Electricity storage becomes as an interesting venture by the main economical advantages which are described as follows:

1. Energy transfer:

The conversion of a very cheap primary energy source which are used in normal power plants yields the intermediary energy. It can be stored and utilized as an additional for the costly power which is used in most of the load power stations or can be utilized for the virtual energy at an appropriate time. The two means of energy generation for which storage is very essential are as follows: