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About the Episode:
Did you know that more than 90% of today’s energy storage technology is based on a 140+ year-old concept? Care to guess what that is? Hint - has to do with moving water, waiting, then moving water again.
Humans have been harnessing the energy of river currents for centuries, using water wheels spun by rivers initially to process grains and cloth. Today, hydropower provides about 16 percent of the world's electricity, generating power in all but two U.S. states.
Contrary to popular belief, however, hydroelectric power can seriously damage the climate, displacing millions of inhabitants and in some cases generating more GHGs than their fossil counterparts!
With this in mind the genius idea of Energy Vault was born. If you missed our episode with their CEO, Robert Piconi, last month, then you truly missed out on a conversation worth revisiting. If you don’t have the time, however, for a 60+min treasure trove, then today you can check out a 10 min Tactical Tuesday vignette of that convo specifically focused on how Energy Vault’s team have created a gravity-based storage solution that mimics hydro power without all the water and ecological concerns.
Let’s face it, our growing reliance on renewable energy sources, such as solar and wind, with inherent intermittency challenges, prevents us from achieving a 100% carbon neutral power grid. Some of the front runners in the current energy storage race are lithium ion batteries and pumped hydro, both of which pose challenges like high cost and a negative environmental impact. Energy Vault’s solution uses gravity (and software, of course) in a novel form factor that is efficient, scalable, economical, and sustainable.
Listen as Robert explains how their unique system uses eco-composite bricks for long-duration energy storage(LDES). He points out the energy storage market is not where it should be, and how their gravity batteries and strategic partnerships are enabling an increasingly renewable-powered grid. Want to know how they are able to be deployed without subsidies? Tune in.
Key Takeaways:
Gravity Battery: Energy Vault’s novel approach provides a durable solution for long-duration energy storage, crucial for overcoming the intermittency challenges posed by renewable energy generation.
Eco-brick Technology: Their "eco-bricks" can store potential energy for near-infinite periods of time, mimicking pumped hydro storage, but without the environmental concerns.
Market-focused Approach: Energy Vault emphasizes creating solutions that can reach utility-scale without subsidies quickly. They can then sell their products to utilities, independent power producers, and large industrial customers.
WATCH THIS EPISODE ON YOUTUBE:
NOTEWORTHY QUOTE:
“We are behind as an industry and innovating to solve this problem. Maybe you think about it, we have lithium ion that’s been deployed. But really nothing else in volume today because of economics or sustainability, and just getting to scale.”
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ABOUT THE HOST OF SUNCAST:
Nico Johnson is the creator and host of SunCast, consistently rated a top solar podcast in the clean energy sector. The content of the show is geared towards listeners looking for insights on where the markets are headed, how to position themselves or their companies, and what today's market leaders do to stay ahead of the pack.
Nico is an Investor, Executive Coach, and 16-year veteran of the solar industry, having led development in the US and Latin America for global companies like Trina Solar and Conergy.
You can connect with Nico Johnson on Twitter, LinkedIn or email.
If you’ve been second-guessing your work decisions or maybe trying to reconsider how you "fit" in the renewable energy industry -> grab 20 minutes on Nico's calendar and discuss whether having him as Your personal coach might be the right next step.