"Buy low, sell high" may be the most succinct description of how to succeed in business. Whether you're selling apples, oranges, or power, it works. The majority of us are unaware of how much the cost of energy fluctuates from day to day, week to week, and month to month.
So if you can buy power at a low price today and sell it back to the grid for a higher price later, you've got yourself a thriving company.
That is precisely what Freeman Hall and Michael Stern, two entrepreneurs, are doing. They've developed B2U Storage Solutions, which uses used Nissan LEAF batteries to store extra power from the grid and then sell it back to the grid when it's needed.
Car batteries are typically replaced after they reach roughly 80% of their original capacity, although they are still capable of storing energy for purposes other than driving. B2U's initial plant in Lancaster, California, has been operational for nearly a year and is profitable.
Business Venture
A large facility containing hundreds or thousands of old batteries, each with its unique history of deterioration, presents a new type of safety hazard. Hall is unconcerned.
He claims that the LEAF batteries were designed to withstand driving circumstances that are more demanding than those faced by grid storage batteries. Real-time temperature controls and danger monitoring back B2U's solutions, and the Lancaster project received a UL 9540 fire safety certification.
Reduced energy storage costs are excellent news for everyone. Freeman Hall and Michael Stern deserve credit for spotting a fresh opportunity and seizing it. Fears that EV batteries would end up in landfills, as well as tales that EV owners will just drive their vehicles into lakes and rivers when their batteries fail, appear to be vastly overblown. This electric car idea could yet have a chance!
Also Read : Using Electricity to Power Houses and Vehicles Can Help Save Thousands of Dollars Per Year
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