I've been following this thread with some interest and now have some thoughts and comments to add to it.
I may have missed something along the way, but I don't recall you specifying what type(s) of alternative energy sources you have available. This makes quite a difference in determining the best options.
As an example, if your alternate source(s) provide mechanical power such as found with water power, wind power, or a solar boiler driving a turbine or steam engine, then air power could be quite advantageous.
A source of mechanical energy can directly drive a compressor head, saving the extremely inefficient conversions to electricity and back. Compressed air is easy and economical to store in large volumes and is free from the chemical hazards of batteries. Useable service life of compressed air tanks is much higher than batteries as well.
In addition to the obvious air tools, compressed air can also be used to power things such as refrigeration if you use the belt driven type refrigeration compressors.
Those mechanical energy sources can also simultaneously drive electrical generators to charge conventional batteries for loads such as lighting. Battery charging for cordless tools is no less efficient that the charging of your "regular" battery string, as long as the charging is limited to peak energy generation times.
The efficiency of converting DC from your battery string to AC so you can use conventional appliances is fairly good with modern inverters. The conversion efficiency also improves when you use a higher voltage battery string since inverters switching higher voltages at lower currents will have lower resistive / heat losses.
Solar PV conversion efficiency is incredibly low to begin with and PV cost is high so if that is your only energy source you really do need to watch every miliamp. Of course, even with that inefficiency a solar PV panel charging batteries for your cordless tools is just fine as long as it has the capacity to keep up with your usage.
For items like welders that require huge gulps of power it's really difficult to get away from an IC engine / generator for practicality. A decent welder / generator can serve two needs and may be the most practical solution.
If you've got really good water power available you could probably use it to drive the head from an engine driven welder. A DC inverter type welder could probably be modified to accept DC from a large battery bank, but that would require you to have a fairly high voltage battery string to be practical.
Someone else posted about the differences in energy needs of a shop vs. home. They had more or less the correct idea, but got their terminology a bit out of whack. A shop has mostly high peak energy loads at low duty cycles and a home has mostly low peak loads with high duty cycles. The total energy consumption over the course of a day could be similar depending on how busy the shop is.
Pete C.