System modularization to supply additional effectiveness and cost reductions to project investors and developers. Scalability allows for renewable energy to end up being a baseload power.
Highview Power, the globally leading company in long-duration energy storage solutions, is happy to reveal that it has built up a modular cryogenic energy storage system, the CRYOBattery, which can be scaled up to several gigawatts of energy storage and can also be found at any places. This technology has reached a fresh benchmark for a levelized cost of storage (LCOS) of up to $140/MWh for a 10-hour, 200 MW/2 GWh system. Highview Power’s cryogenic energy storage system is equal in performance to, and can as well potentially replace, a fossil fuel power station. Highview Power’s systems has the ability to enable renewable energy baseload power on a big scale, while at the same time backing up electricity and distribution systems as well as providing energy security.
Long-duration technologies including cryogenic energy storage will be increasingly important for an electricity system to change from a primary reliance on the regular fossil fuel generation to one which is grid-dominated by variable renewable generation from wind and solar.
Today, Highview Power also revealed that it has won the 2019 Ashden Award for Energy Innovation by the virtue of its proprietary CRYOBattery technology.
Highview Power’s proprietary cryogenic energy storage technology, which makes use of liquid air as the storage medium, gives every single service essential for a buoyant grid with time shifting, synchronous voltage support, synchronous inertia, frequency regulation and reserves, and black start capabilities included.
As opposed to competing long-duration technologies, like pumped hydro-power or compressed air, Highview Power’s CRYOBattery has the opportunity to be sited just about anywhere. The CRYOBattery has a tiny footprint, even at several gigawatt-levels, and does not make use of hazardous materials.
Alex Eller, the senior research analyst with Navigant Research mentioned that the Long-duration technologies like cryogenic energy storage will end up being increasingly even more essential for an electricity system to make a transition from a primary reliance on the conventional fossil fuel generation to a type which grid-dominated by variable renewable generation from wind and solar.
Javier Cavada, president and CEO of Highview Power reported that this moment is one which is pivotal for the renewable energy industry as well as for any person who wants to make use of large amounts of renewables. As more renewables get added to the grid, long-duration, giga-scale energy storage is the needed foundation to allow these intermittent sources of power to be trusted enough to become baseload. He added that not only does the CRYOBattery give this reliability and make room for scalability—but it is cost-effective, tested and trusted and now available.