A UK based company, Highview Power Storage, has introduced its Liquid Air Energy Storage technology. In 2014 the UK Government Department of Energy and Climate Change awarded them approximately $11.6m grant to build a plant which is designed to convert low-grade waste heat from the onsite landfill gas engines into electrical power. It was assumed that this system will be cost effective, clean and will bear no environmental impact. It has integrated storage energy technology by using cheap, off peak energy to cool air using a conventional industrial refrigeration plant. The technology comprises of three basic principles of Liquid Air Energy Storage which is: a charging system, energy store; and a power recovery. When it’s charging at off-peak or has excess electricity it is used to power an air liquefier, which produces liquid air. Then the liquid is stored in a tank at low pressure. When the power needs to be recovered, the liquid air is pumped to high pressure, evaporated and heated. The high pressure gas drives a turbine to generate electricity. When heat is added gas is released which makes the process more efficient. According to Highview liquid air energy storage has advantages over other storage technologies since it does not require the same material as the lithium that batteries need. The material that is used in the industrial refrigeration plant is stainless steel. The advantages of Liquid Air Energy Storage is predominantly due to no geographical constraints, low capital cost, long lifetime of over 25 years, scaleable to 100MWs/GWhs, mature components available for a global supply chain, integration of industrial low-grade waste heat and waste cold, uses no scare or toxic materials.
Highpower International Inc. is a company which engages in providing clean energy storage and manufactures lithium-ion rechargeable batteries. Their products are being used in various electronic products such as solar energy storage systems, backup power systems as well as electric vehicles.
General Electric is one of the leading energy sector where is always thinking of the future of Energy Storage. The management and control team of energy supply and usage is always surveying new ways for the search for new, more cost-effective energy storage solutions. These systems main purpose is to store energy for use on demand. The United States is the leader in providing these services to develop and developing countries. There are various types of storage systems: solid state batteries, flow batteries, thermal and hydro, but batteries have become the company’s main business target. The US Government has taken an interest in ensuring that utilities companies are addressing energy storage and offers $4.5 billion in loan grantees for these companies to develop innovative energy solutions. GE’s energy storage solutions are currently present in 25 countries where it has the capabilities of producing over 50 megawatt hours of grid storage. In 2015 to increase its business model GE has announced a spinoff of energy storage, solar and electric vehicles into a startup called Current. GE’s aim is to utilize Current’s business model in order to cut energy waste, simplify power by combining separate energy products, manage demand and ultimately cut customer energy bills. https://www.gerenewableenergy.com/innovative-solutions/energy-storage.html
Another company by the name of Southern California Edison believes that supply from batteries is ready to compete against gas-fired peaker plants. One of the largest power grids, PJM Interconnection LLC, believes that lithium-ion batteries are already competitive with gas when it is needed short term. The battery storage systems have three basic parts: the DC battery that stores the energy, the AC power conversion that converts the energy from AC to DC and a control system that manages the operation of the storage system.
With the technology always changing companies are forever dipping into diversifying its business model. Tesla Motors, In., one of the leading electric cars maker in 2015 announced that it has produced solar-rechargeable, whole-house electric battery. Tesla is one company that its aim is to develop green technology. Tesla introduced its first electric car of which one of the advantages of driving an electric car is that if you forget to power the battery and leave it to drain completely the car will lock, all the wheels lock and the car won’t move again without a new replacement battery of approximately $30,000. To resolve this problem it partnered with Panasonic to manufacture the lithium-ion cells for their electric vehicles. Tesla Motors is also planning to enter the market of creating solar roofs that will be integrated with battery storage collected from the rooftop solar panels. Mercedez Benz is another company who is also planning to offer its consumers a garage-mounted battery pack to store energy collected from rooftop solar panels.