Home energy storageHome energy storage devices store electricity locally, for later consumption. Electrochemical energy storage products, also known as "Battery Energy Storage System" (or "BESS" for short), at their heart are rechargeable batteries, typically based on lithium-ion or lead-acid controlled by computer with intelligent software to handle charging and discharging cycles. Companies are also developing smaller flow battery technology for home use.
Electric heatingElectric heating is a process in which electrical energy is converted directly to heat energy. Common applications include space heating, cooking, water heating and industrial processes. An electric heater is an electrical device that converts an electric current into heat. The heating element inside every electric heater is an electrical resistor, and works on the principle of Joule heating: an electric current passing through a resistor will convert that electrical energy into heat energy.
Grid parityGrid parity (or socket parity) occurs when an alternative energy source can generate power at a levelized cost of electricity (LCOE) that is less than or equal to the price of power from the electricity grid. The term is most commonly used when discussing renewable energy sources, notably solar power and wind power. Grid parity depends upon whether you are calculating from the point of view of a utility or of a retail consumer.
Kinetic energy recovery systemA kinetic energy recovery system (KERS) is an automotive system for recovering a moving vehicle's kinetic energy under braking. The recovered energy is stored in a reservoir (for example a flywheel or high voltage batteries) for later use under acceleration. Examples include complex high end systems such as the Zytek, Flybrid, Torotrak and Xtrac used in Formula One racing and simple, easily manufactured and integrated differential based systems such as the Cambridge Passenger/Commercial Vehicle Kinetic Energy Recovery System (CPC-KERS).
