“In the future, when investors look back at the year that represented the turning point for clean energy, 2016 may be it. The industry overall is growing at a breath-taking pace, but perhaps not for the reason that some investors think. Energy storage rather than solar power and wind power are the real factors that are driving a revolution across the electrical power industry.”
“NEW YORK — Eos Energy Storage (“Eos” or the “Company”), a developer and manufacturer or grid-scale battery systems, today announced a private placement with AltEnergy LLC. Eos expects to receive $15 million in gross proceeds from the private placement and plans to place an additional $10 million with accredited investors for total gross proceeds of $25 million.
Key to the innovation is a mesh solar panel, which allows air to enter the battery, and a special process for transferring electrons between the solar panel and the battery electrode. Inside the device, light and oxygen enable different parts of the chemical reactions that charge the battery. http://news.osu.edu/news/2014/10/03/batteries-included-a-solar-cell-that-stores-its-own-power/
In the United States it’s a different story. Solar power generated by electricity customers is typically either “net metered” or paid a “value-of-solar” tariff. Under a net metering rate, produced solar energy essentially rolls the electric meter backwards, i.e. it is valued at exactly the price of retail electricity. Value-of-solar tariffs pay for solar at a rate calculated based on its overall environmental and system benefits. Rates calculated by Minnesota’s Public Utility Commission (14.5 cents per kilowatt-hour) and Austin’s municipal electric utility (12.8 cents per kilowatt-hour) both exceed retail energy rates. Under both of these solar tariffs, the economic decision is to send solar electricity directly into the grid, rather than save it for later use in the home.
Though often lumped together under the term “energy storage,” the field is in fact a wide range of technologies ranging from well established to speculative, each with different functions, advantages, and drawbacks. The discussion below focuses on existing grid-scale (greater than 1 MW rated power) projects and is generally ordered by level of deployment.
“It could change the game, since it makes the sun’s energy, in the form of heat, storable and distributable,” says Jeffrey Grossman, the Carl Richard Soderberg Associate Professor of Power Engineering at MIT, who is a co-author of a paper describing the new process in the journal Nature Chemistry. Timothy Kucharski, a postdoc at MIT and Harvard, is the paper’s lead author.
“Sunverge has been granted UL 1741 certification for islanding operations and while the product isn’t meant to displace grid electricity entirely, it does have the ability to island and disconnect from the grid.”
Is this the future of energy storage? This should increase the adoption of Bimodal Solar in the Residential market.