Long duration energy storage (LDES) is needed to support grids with high levels of renewable energy like solar and wind. LDES provides storage for periods of 4-24 hours or longer. This represents a large market opportunity worth $1.5-3 trillion over the next 20 years. As with solar panels and batteries, LDES costs are expected to decrease significantly over time. The document explores potential LDES technologies and their characteristics, such as efficiencies, self-discharge rates, and round-trip efficiency. An optimal solution would have a unique technical approach, low levelized cost of storage under $100/MWh, and leverage existing supply chains without relying on critical minerals.
Key Drivers for Energy Storage
Technological advancements and decrease in costs
Evolution of utility needs (rise of variable renewable generation)
Increasing customer choice and engagement
Policy and regulatory shifts
Overview of Energy storage Technologies, Why we need to use Energy storage system, Case studies , The future of Energy storage systems and Development of Energy Storage systems, Brief discription of each system mentioning its advantages and disadvantages.
Provides electricity grid basics, why energy storage is needed, describes the behind-the-meter application, and highlights solution for commercial and industrial,
Key Drivers for Energy Storage
Technological advancements and decrease in costs
Evolution of utility needs (rise of variable renewable generation)
Increasing customer choice and engagement
Policy and regulatory shifts
Overview of Energy storage Technologies, Why we need to use Energy storage system, Case studies , The future of Energy storage systems and Development of Energy Storage systems, Brief discription of each system mentioning its advantages and disadvantages.
Provides electricity grid basics, why energy storage is needed, describes the behind-the-meter application, and highlights solution for commercial and industrial,
The installation of battery energy storage in behind-the-meter applications is poised for exponential growth over the next few years. Batteries can be combined with solar to form grid-connected microgrids meaning that these assets can be used for economic benefit when the grid is operating and then provide resiliency during grid outages. The key to making such hybrid systems economically viable is to stack revenue from multiple applications, such as peak demand charge reduction, energy arbitrage, providing ancillary services to the grid, and participating in demand response programs, among others.
Multiple Energy Storage Technologies are being developed & are maturing, Gensol did an analysis of 1635 Energy Storage Projects developed globally to come up with which technology has captured market share.
The presentation also has multiple case studies.
E-mobility | Part 2 - Battery Technology & Alternative Innovations (English)Vertex Holdings
Today, 60% of electric vehicles (EVs) are powered by lithium-ion batteries (LIBs) due to its efficiency, high power-to-weight ratio and flexibility to allow chemical alterations. As the EV industry gains steam, supply chain and design challenges are spurring battery manufacturers to explore alternatives.
Some of the alternative battery technologies include lithium-iron phosphate (LFP), lithium-sulfur battery (LSB) and sodium-ion battery (SIB). Besides LFP, LSB and SIB, solid-state batteries (SSBs) are touted as a forerunner for the next-generation battery technology.
Despite these advancements, the current speed of innovation is not accelerating fast enough to meet the demands of the rapidly growing EV sector. This presents opportunities in areas such as battery design and securing the supply chain locally via vertical integration.
As the world welcomes green mobility, commercializing battery technology will be imperative to drive global EV adoption. Given the increased push for battery development and innovation, we believe that it’s only a matter of time before supply catches up with demand.
Find out more here: https://bit.ly/3HUaf1Z
How To Apply Energy Storage Technologies In Commercial And Industrial Applica...Davide Bonomi
This presentation was presented at the masterclass session during 11th Energy Storage World Forum in 2018, Berlin.
How To Apply Energy Storage Technologies In Commercial And Industrial Applications – by ENEA explains two reasons why facilities should be interested in storage projects:
1. Market & value for C&I energy storage is finally booming in numerous locations
2. Startups and large utilities now compete to provide C&I facilities with turnkey solutions
If you’d like to get a deep industry insights and learn in person from energy storage professionals, join our next masterclass at https://energystorageforum.com/register
Presentation by Bushveld Energy at the African Solar Energy Forum in Accra, Ghana on 16 October 2019. The presentation covers four topics:
1) Overview of energy storage uses and technologies, including their current states of maturity;
2) Benefits to combining solar PV with storage, especially battery energy storage systems (BESS)
3) Examples from Bushveld’s experience in combining BESS with PV for commercial and industrial customers;
4) Introduction to Bushveld and its approach to BESS projects.
As the penetration of renewable generation increased, it
had become obvious that the variability of these sources
and the fact that renewables are not always available when
the power is needed, were becoming a problem. As a
consequence, fossil-based operating reserves are required to
augment renewable generation to ensure reliability. Energy
storage can provide a superior solution to the variability
problem when compared to fossil-based generation, while
also improving the availability of renewables to provide
electricity upon demand. Energy storage is a flexible
resource for grid operators that can deliver a range of
grid services quickly and efficiently. The rapid growth of
policy mandates and incentives for renewable generation
and, more recently, for energy storage, the need for
modernization of the grid infrastructure, and the desire to
decarbonize the economy, are the principal drivers behind
the renewed interest in energy storage.
Status of Rechargeable Li-ion Battery Industry 2019 by Yole DéveloppementYole Developpement
E-mobility continues strongly driving the Li-ion battery demand.
More information on https://www.i-micronews.com/products/status-of-rechargeable-li-ion-battery-industry-2019/
A short technical report on Compressed Air Energy Storage, a type of energy storage best suited for for intermittent renewable energy electricity production.
Compressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAES
This presentation outlines the different storage technology options available to cope up with the intermittent nature of the Renewable energy like wind and solar.
The installation of battery energy storage in behind-the-meter applications is poised for exponential growth over the next few years. Batteries can be combined with solar to form grid-connected microgrids meaning that these assets can be used for economic benefit when the grid is operating and then provide resiliency during grid outages. The key to making such hybrid systems economically viable is to stack revenue from multiple applications, such as peak demand charge reduction, energy arbitrage, providing ancillary services to the grid, and participating in demand response programs, among others.
Multiple Energy Storage Technologies are being developed & are maturing, Gensol did an analysis of 1635 Energy Storage Projects developed globally to come up with which technology has captured market share.
The presentation also has multiple case studies.
E-mobility | Part 2 - Battery Technology & Alternative Innovations (English)Vertex Holdings
Today, 60% of electric vehicles (EVs) are powered by lithium-ion batteries (LIBs) due to its efficiency, high power-to-weight ratio and flexibility to allow chemical alterations. As the EV industry gains steam, supply chain and design challenges are spurring battery manufacturers to explore alternatives.
Some of the alternative battery technologies include lithium-iron phosphate (LFP), lithium-sulfur battery (LSB) and sodium-ion battery (SIB). Besides LFP, LSB and SIB, solid-state batteries (SSBs) are touted as a forerunner for the next-generation battery technology.
Despite these advancements, the current speed of innovation is not accelerating fast enough to meet the demands of the rapidly growing EV sector. This presents opportunities in areas such as battery design and securing the supply chain locally via vertical integration.
As the world welcomes green mobility, commercializing battery technology will be imperative to drive global EV adoption. Given the increased push for battery development and innovation, we believe that it’s only a matter of time before supply catches up with demand.
Find out more here: https://bit.ly/3HUaf1Z
How To Apply Energy Storage Technologies In Commercial And Industrial Applica...Davide Bonomi
This presentation was presented at the masterclass session during 11th Energy Storage World Forum in 2018, Berlin.
How To Apply Energy Storage Technologies In Commercial And Industrial Applications – by ENEA explains two reasons why facilities should be interested in storage projects:
1. Market & value for C&I energy storage is finally booming in numerous locations
2. Startups and large utilities now compete to provide C&I facilities with turnkey solutions
If you’d like to get a deep industry insights and learn in person from energy storage professionals, join our next masterclass at https://energystorageforum.com/register
Presentation by Bushveld Energy at the African Solar Energy Forum in Accra, Ghana on 16 October 2019. The presentation covers four topics:
1) Overview of energy storage uses and technologies, including their current states of maturity;
2) Benefits to combining solar PV with storage, especially battery energy storage systems (BESS)
3) Examples from Bushveld’s experience in combining BESS with PV for commercial and industrial customers;
4) Introduction to Bushveld and its approach to BESS projects.
As the penetration of renewable generation increased, it
had become obvious that the variability of these sources
and the fact that renewables are not always available when
the power is needed, were becoming a problem. As a
consequence, fossil-based operating reserves are required to
augment renewable generation to ensure reliability. Energy
storage can provide a superior solution to the variability
problem when compared to fossil-based generation, while
also improving the availability of renewables to provide
electricity upon demand. Energy storage is a flexible
resource for grid operators that can deliver a range of
grid services quickly and efficiently. The rapid growth of
policy mandates and incentives for renewable generation
and, more recently, for energy storage, the need for
modernization of the grid infrastructure, and the desire to
decarbonize the economy, are the principal drivers behind
the renewed interest in energy storage.
Status of Rechargeable Li-ion Battery Industry 2019 by Yole DéveloppementYole Developpement
E-mobility continues strongly driving the Li-ion battery demand.
More information on https://www.i-micronews.com/products/status-of-rechargeable-li-ion-battery-industry-2019/
A short technical report on Compressed Air Energy Storage, a type of energy storage best suited for for intermittent renewable energy electricity production.
Compressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAESCompressed Air Energy Storage CAES
This presentation outlines the different storage technology options available to cope up with the intermittent nature of the Renewable energy like wind and solar.
Solving Energy Storage Challenges Offshore - Offshore Europe 2017 Cinema Seminar - Dr. David Blood, Parker Hannifin
Energy storage is big news, following the UK government’s announcement to establish a center for battery research and plans to reduce or shift electricity use to creating a smarter, more flexible energy system.
Moving rig-based diesel gen sets to a new hybrid technology might sound like a step too far. But using battery storage alongside existing power systems is not a huge leap, with the potential to reduce fuel, operations and maintenance costs, whilst improving power quality.
This technical seminar for oil and gas professionals was run by Parker at Offshore Europe 2017. It covers the potential applications and benefits of energy storage, an overview of micro-grids and how to overcome potential challenges. The presentation also features some case study examples.
Learn more: http://solutions.parker.com/OE17_Contact
These slides present the basics of different categories of energy storage devices, and their application to power system. Apart from that one control strategy has been presented. Later of the class I will discuss about its control strategies.
Australian Energy Storage Conference and Exhibition 2017 - 14-15 Jun 2017 in ...Michael Willemot, Msc, MBA
On Thursday 15 June 2017, during the Australian Energy Storage Conference and Exhibition in Sydney, Michael Willemot presented
the flywheel technology, the results and outcomes from a smart grid project in which Levisys was involved. Then Michael Willemot described where Levisys is heading in terms of objectives and strategy, including hybrid storage systems.
Finally, he described why a hybrid storage system may be relevant for the Australian and Pacific Islands markets.
Energy Storage and Solar: What Does, and Doesn’t, Lie on the HorizonRick Borry
Solar energy continues to blaze a path forward for renewables, and installations are rapidly expanding around the globe – at both the grid and distributed scales. This represents a major shift in the way we generate and consume electricity every day, and the increased penetration of renewables is creating new challenges. Both photovoltaic and solar thermal benefit immensely from the addition of energy storage technologies – allowing renewables to be dispatchable, on-demand resources. Energy storage technology is rapidly advancing as the solution to challenges created by intermittency and distributed generation. This webinar will focus on the role of energy storage on the grid, and how storage is able to augment the solar industry.
Battery energy storage systems (BESS) – an overview of the basicsBushveld Energy
Presentation by Bushveld Energy on the basics of energy storage, specifically large scale batteries at the 6th Annual Africa Power Roundtable, hosted by Webber Wentzel in Sandton, South Africa on 10 April 2018.
Alt. GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using ...James Anderson
Effective Application Security in Software Delivery lifecycle using Deployment Firewall and DBOM
The modern software delivery process (or the CI/CD process) includes many tools, distributed teams, open-source code, and cloud platforms. Constant focus on speed to release software to market, along with the traditional slow and manual security checks has caused gaps in continuous security as an important piece in the software supply chain. Today organizations feel more susceptible to external and internal cyber threats due to the vast attack surface in their applications supply chain and the lack of end-to-end governance and risk management.
The software team must secure its software delivery process to avoid vulnerability and security breaches. This needs to be achieved with existing tool chains and without extensive rework of the delivery processes. This talk will present strategies and techniques for providing visibility into the true risk of the existing vulnerabilities, preventing the introduction of security issues in the software, resolving vulnerabilities in production environments quickly, and capturing the deployment bill of materials (DBOM).
Speakers:
Bob Boule
Robert Boule is a technology enthusiast with PASSION for technology and making things work along with a knack for helping others understand how things work. He comes with around 20 years of solution engineering experience in application security, software continuous delivery, and SaaS platforms. He is known for his dynamic presentations in CI/CD and application security integrated in software delivery lifecycle.
Gopinath Rebala
Gopinath Rebala is the CTO of OpsMx, where he has overall responsibility for the machine learning and data processing architectures for Secure Software Delivery. Gopi also has a strong connection with our customers, leading design and architecture for strategic implementations. Gopi is a frequent speaker and well-known leader in continuous delivery and integrating security into software delivery.
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
SAP Sapphire 2024 - ASUG301 building better apps with SAP Fiori.pdfPeter Spielvogel
Building better applications for business users with SAP Fiori.
• What is SAP Fiori and why it matters to you
• How a better user experience drives measurable business benefits
• How to get started with SAP Fiori today
• How SAP Fiori elements accelerates application development
• How SAP Build Code includes SAP Fiori tools and other generative artificial intelligence capabilities
• How SAP Fiori paves the way for using AI in SAP apps
Why You Should Replace Windows 11 with Nitrux Linux 3.5.0 for enhanced perfor...SOFTTECHHUB
The choice of an operating system plays a pivotal role in shaping our computing experience. For decades, Microsoft's Windows has dominated the market, offering a familiar and widely adopted platform for personal and professional use. However, as technological advancements continue to push the boundaries of innovation, alternative operating systems have emerged, challenging the status quo and offering users a fresh perspective on computing.
One such alternative that has garnered significant attention and acclaim is Nitrux Linux 3.5.0, a sleek, powerful, and user-friendly Linux distribution that promises to redefine the way we interact with our devices. With its focus on performance, security, and customization, Nitrux Linux presents a compelling case for those seeking to break free from the constraints of proprietary software and embrace the freedom and flexibility of open-source computing.
Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...UiPathCommunity
💥 Speed, accuracy, and scaling – discover the superpowers of GenAI in action with UiPath Document Understanding and Communications Mining™:
See how to accelerate model training and optimize model performance with active learning
Learn about the latest enhancements to out-of-the-box document processing – with little to no training required
Get an exclusive demo of the new family of UiPath LLMs – GenAI models specialized for processing different types of documents and messages
This is a hands-on session specifically designed for automation developers and AI enthusiasts seeking to enhance their knowledge in leveraging the latest intelligent document processing capabilities offered by UiPath.
Speakers:
👨🏫 Andras Palfi, Senior Product Manager, UiPath
👩🏫 Lenka Dulovicova, Product Program Manager, UiPath
zkStudyClub - Reef: Fast Succinct Non-Interactive Zero-Knowledge Regex ProofsAlex Pruden
This paper presents Reef, a system for generating publicly verifiable succinct non-interactive zero-knowledge proofs that a committed document matches or does not match a regular expression. We describe applications such as proving the strength of passwords, the provenance of email despite redactions, the validity of oblivious DNS queries, and the existence of mutations in DNA. Reef supports the Perl Compatible Regular Expression syntax, including wildcards, alternation, ranges, capture groups, Kleene star, negations, and lookarounds. Reef introduces a new type of automata, Skipping Alternating Finite Automata (SAFA), that skips irrelevant parts of a document when producing proofs without undermining soundness, and instantiates SAFA with a lookup argument. Our experimental evaluation confirms that Reef can generate proofs for documents with 32M characters; the proofs are small and cheap to verify (under a second).
Paper: https://eprint.iacr.org/2023/1886
Pushing the limits of ePRTC: 100ns holdover for 100 daysAdtran
At WSTS 2024, Alon Stern explored the topic of parametric holdover and explained how recent research findings can be implemented in real-world PNT networks to achieve 100 nanoseconds of accuracy for up to 100 days.
Encryption in Microsoft 365 - ExpertsLive Netherlands 2024Albert Hoitingh
In this session I delve into the encryption technology used in Microsoft 365 and Microsoft Purview. Including the concepts of Customer Key and Double Key Encryption.
In his public lecture, Christian Timmerer provides insights into the fascinating history of video streaming, starting from its humble beginnings before YouTube to the groundbreaking technologies that now dominate platforms like Netflix and ORF ON. Timmerer also presents provocative contributions of his own that have significantly influenced the industry. He concludes by looking at future challenges and invites the audience to join in a discussion.
PHP Frameworks: I want to break free (IPC Berlin 2024)Ralf Eggert
In this presentation, we examine the challenges and limitations of relying too heavily on PHP frameworks in web development. We discuss the history of PHP and its frameworks to understand how this dependence has evolved. The focus will be on providing concrete tips and strategies to reduce reliance on these frameworks, based on real-world examples and practical considerations. The goal is to equip developers with the skills and knowledge to create more flexible and future-proof web applications. We'll explore the importance of maintaining autonomy in a rapidly changing tech landscape and how to make informed decisions in PHP development.
This talk is aimed at encouraging a more independent approach to using PHP frameworks, moving towards a more flexible and future-proof approach to PHP development.
Transcript: Selling digital books in 2024: Insights from industry leaders - T...BookNet Canada
The publishing industry has been selling digital audiobooks and ebooks for over a decade and has found its groove. What’s changed? What has stayed the same? Where do we go from here? Join a group of leading sales peers from across the industry for a conversation about the lessons learned since the popularization of digital books, best practices, digital book supply chain management, and more.
Link to video recording: https://bnctechforum.ca/sessions/selling-digital-books-in-2024-insights-from-industry-leaders/
Presented by BookNet Canada on May 28, 2024, with support from the Department of Canadian Heritage.
Accelerate your Kubernetes clusters with Varnish CachingThijs Feryn
A presentation about the usage and availability of Varnish on Kubernetes. This talk explores the capabilities of Varnish caching and shows how to use the Varnish Helm chart to deploy it to Kubernetes.
This presentation was delivered at K8SUG Singapore. See https://feryn.eu/presentations/accelerate-your-kubernetes-clusters-with-varnish-caching-k8sug-singapore-28-2024 for more details.
2. LONG DURATION ENERGY STORAGE 2
The deep decarbonization of grids heavily reliant on renewables
requires long-duration energy storage (LDES)
OVERVIEW
Executive Summary
• LDES is a very big market with $1.5-3TR in
cumulative capex deployed over the next 20 years
• We believe that LDES will go the way of solar
panels and batteries in that it will be commoditized
as its costs decrease significantly over time
• The key is to find a technical edge that is cost
competitive and effective
• Selling non-resource-constrained hardware into
this market with a software/ maintenance layer on
top of this could be a winning strategy
Source: https://www.economist.com/technology-quarterly/2022/06/23/decarbonisation-of-electric-grids-reliant-on-renewables-requires-long-duration-energy-storage;
https://www.mckinsey.com/business-functions/sustainability/our-insights/net-zero-power-long-duration-energy-storage-for-a-renewable-grid
3. LONG DURATION ENERGY STORAGE 3
Long Duration Energy Storage is an application of storage in a market,
not a specific technology
Long Duration Energy Storage is an
application of storage in a market/energy
system not a specific technology. Some
technologies are more suitable to the
application than others.
An important escalating problem: Increasing
VRE integration creates high curtailment and
near $0/MWh energy prices for non-trivial % of
the day.
PROBLEM IDENTIFICATION
Source: https://www.lazard.com/perspective/levelized-cost-of-energy-
levelized-cost-of-storage-and-levelized-cost-of-hydrogen/
4. LONG DURATION ENERGY STORAGE 4
What do we mean when we refer to LDES?
PROBLEM IDENTIFICATION
In Scope
Primary Focus
SHORT LONG: DIURNAL (DAILY) LONG: WEEKLY + SEASONAL
TIME DURATION • Seconds/Minutes to <4 hrs • 4-24 hours • 24+ hours of storage
APPLICATIONS
SERVED
• Frequency regulation & response
• Contingency spinning
• Black start
• Congestion management
• Arbitrage
• Curtailment (before 80% VRE
penetration)
• Congestion management
• Peaker plant replacement
• Resiliency
• Arbitrage
• Curtailment (after 80% VRE
penetration)
• Weekly/Seasonal Storage
ADOPTION
TIMELINE
• LiB and lead acid batteries
used today
• LiB and flow batteries coming
onto market ~now
• Under R&D; likely taking off in
2040+ or after 80% VRE
penetration
TECHNOLOGIES
• Flywheels
• Electrochemical (LiB)
• Electrochemical (LiB, Flow)
• Compressed Air (CAES)
• Thermal
• Mechanical
• Pumped Hydro
• Mechanical
• Pumped Hydro
5. LONG DURATION ENERGY STORAGE 5
Can we build a company that has a differentiated technical approach
while staying competitive on cost?
In summary, we are looking for a solution that has the following advantages:
1. Unique technical approach
2. Cost competitive to lithium-ion batteries
3. Short time to market without reliance on critical minerals or relying on EV battery supply
chains
HYPOTHESIS
6. LONG DURATION ENERGY STORAGE 6
An Overview of Energy Storage Mechanisms & Technologies
OVERVIEW
Chemical Thermal Electrical Electrochemical
Mechanical
Springs
Pumped Hydro
Major Category
Application
Not Novel
Lithium Batteries
Flow Batteries
Flywheels
Compressed Air
Liquid Air
Power to gas to power Sensible heat Supercapacitors
Lead Acid Batteries
Metal Air Batteries
Nickel Batteries
Molten Salts
Superconducting
Magnetic Energy
Storage (SMES)
Latent heat
Thermochemical heat
Cryogenic Storage
Potential Energy
Given supply chain limitations of current grid-scale battery deployments, we are targeting a long-
duration energy storage system that is not constrained by resources or complex research
7. LONG DURATION ENERGY STORAGE 7
Increased curtailment increases risk and reduces profitability for
asset owners, whether the energy is sold via PPA or on the real-time
market.
A storage owner’s rational calculation for diurnal storage
incorporation today:
LCOS + Subsidy < Peak Demand Energy Sale Price
Once we have 80%+ renewable penetration and saved capacity can
be used for reliable baseload generation, with little curtailment:
LCOS + Subsidy + Marginal Cost of Energy Production <
Energy Sale Price
With additional regulation that requires renewable energy
generation:
LCOS + Subsidy + Marginal Cost of Energy Production <
LCOE of next-best energy source + Carbon Tax
Use Case: Decrease curtailment and increase revenues for VRE asset
owners
SOLUTION OUTLINE
8. LONG DURATION ENERGY STORAGE
Amortized Capex Marginal Cost
8
Levelized Cost of Storage (LCOS) as a starting point to evaluate
different LDES technologies
SOLUTION OUTLINE
• Levelized cost of storage (LCOS) is the cost of kWh or MWh electricity discharged from a storage device when accounting
for all cost incurred and energy produced throughout the lifetime of the device.
• Attempts to measure the all-in costs associated with storage can be simplified as such:
𝐿𝐶𝑂𝑆 =
𝛽 ∗ 𝐶𝐴𝑃𝐸𝑋 + 𝑂&𝑀𝑓𝑖𝑥𝑒𝑑
𝑁𝑐𝑦𝑐𝑙𝑒𝑠𝜂𝑅𝑇𝐸in
+
𝐸𝑛𝑒𝑟𝑔𝑦 𝐶𝑜𝑠𝑡
𝑁𝑐𝑦𝑐𝑙𝑒𝑠𝜂𝑅𝑇𝐸in
• A Power Purchase Agreement (PPA) determines the sale price with a specific customer and should be greater than LCOS
• Excess capacity is potentially available to be sold to other customers or into the merchant market
• Selling into the merchant market means providers are selling at Marginal Cost for the dispatch curve
Two potential opportunities:
1. Low LCOS to win larger market share for new PPAs and larger margins and;
2. Low marginal cost system to satisfy merchant market.
9. LONG DURATION ENERGY STORAGE
Acquire
Energy
Provide
Energy
Storage
Charging Efficiency
𝜂𝑐ℎ𝑎𝑟𝑔𝑒
Discharging Efficiency
𝜂𝑑𝑖𝑠𝑐ℎ𝑎𝑟𝑔𝑒
Self Discharge
𝜂𝑠𝑒𝑙𝑓
* Efficiencies can be complex functions
with a number dependencies
An energy storage has 3 basic stages, with varying efficiencies
associated with the transition between stages
SOLUTION OUTLINE
10. LONG DURATION ENERGY STORAGE
• We are taking a first principles approach to identifying optimal energy
storage technologies
• Conversion of energy from one form to another results in losses, some
greater than others
• These are largely driven by the 2nd Law of Thermodynamics which
places limits on the efficiencies of various conversion processes (Carnot
Efficiency)
• The higher the efficiency, the more performant the storage mechanism
Notional example mechanisms:
Battery from grid: Electrical (0.9) → Battery (0.99) → (0.9) Electrical = 0.81
Thermal (500C) to Fly Wheel to Electrical: 500C Thermal (0.31) →
Flywheel (0.99) → (0.98) Electrical = 0.30
Gravity/Elastic Storage from Grid: ElectriclToMech (0.98) → Potential (1.0)
→ (0.98) MechToElectric = 0.96
10
We are looking for solutions with high charging efficiencies…
Type
From To Efficiency
Thermal Thermal <0.95
Thermal Electric < 0.2*ηcarnot
Thermal Mechanical < 0.5*ηcarnot
Thermal Photon ε*
Thermal Chemical 1
Photon Thermal ε*
Photon Electric <0.33**
Mechanical Thermal < 0.5/ηcarnot
Mechanical Electric < 0.98
Mechanical Pressure ≤ 1
Chemical Thermal 1
Chemical Electric 0.9***
Electric Electrochemical Depends
Electric Chemical 0.9***
Electric Thermal 1
Electric Electromagnetic Depends
Electric Mechanical < 0.98
Electromagnetic Electric Depends
*Emissivity of material
**Based on 6000K black body emission spectrum (Shockley-Queisser limit)
***Function of Gibbs Free Energy function with specific species
SOLUTION OUTLINE
Conversion Efficiencies
11. LONG DURATION ENERGY STORAGE
• Energy is lost during the time energy is stored
• Kinetic experiences drag
• Thermal experiences heat loss, though less than 1000K temperatures
exhibit minimal efficiency loss
• Increased amounts of self discharge are present when:
- Smaller size of storage (low MWh)
- Longer storage times
- Higher storage temperatures
11
Storage Type Self discharge/day
Temperature (<1000K) 0.96-0.98
Kinetic 0.97
Potential 1
Elastic 1
Electromagnetic Operating current
Electrochemical 0.98
…Coupled with low self discharge rates…
SOLUTION OUTLINE
Self Discharge Efficiency 𝜼𝒔𝒆𝒍𝒇
Effective Discharge Efficiency 𝜼𝒅𝒊𝒔𝒄𝒉𝒂𝒓𝒈𝒆
Minimum surface
area volume
(sphere)
with 𝜖 = 0.01
emissivity
Assuming 50% of
Carnot Efficiency
LONG DURATION ENERGY STORAGE
12. LONG DURATION ENERGY STORAGE
For thermal processes, battery systems, and gravity-
based systems:
>$80/MWh Grid Purchase Price
• High energy prices favor high conversion efficiencies (is this an
opportunity?)
$20-40/MWh Grid Purchase Price
• Low effective conversion efficiencies (𝜂𝑐𝑜𝑛𝑣𝑒𝑟𝑠𝑖𝑜𝑛 < 0.3) create
significantly higher marginal cost for energy storage providers
• Conversions to thermal energy are seem unlikely to be cost
effective on a marginal basis
$-5 - 5/MWh Grid Purchase Price
• Conversion efficiency is of minor importance when marginal
energy price is low and a most technologies
< -$10/MWh Grid Purchase Price
• High conversion efficiency devices are penalized when there are
large negative costs of electricity
12
Batteries
Thermal
Processes
Gravity
…And low marginal cost
SOLUTION OUTLINE
𝜂𝑅𝑇 = 𝜂𝑐ℎ𝑎𝑟𝑔𝑒𝜂𝑠𝑒𝑙𝑓𝜂𝑑𝑖𝑠𝑐ℎ𝑎𝑟𝑔𝑒
14. LONG DURATION ENERGY STORAGE
System Requirements
14
Implementation requirements
• Low LCOS: Target < $100/MWh installed
based on existing market prices
• Minimal, easy-to-build infrastructure that can
be deployed anywhere (as opposed to only
areas with abandoned mine shafts, salt caverns,
or other naturally occurring areas)
• Leverage a large, existing supply chain outside
of li-ion batteries as those are in high demand
by EV manufacturers
Technical requirements
• ~4+ hour duration
• Charge rate/discharge rate: Assume symmetric
charging/discharging
• Round-trip efficiency >80%
• Long life (e.g. >20 years or longer than li-ion
battery or similar systems)
• Readily available, non-critical mineral materials
15. LONG DURATION ENERGY STORAGE
Gravity Energy Storage Model – Pumped Hydro Example
15
The ideal system consolidates the conversion equipment into high power, centralized units to minimize
capex cost and maximize efficiency
16. LONG DURATION ENERGY STORAGE
Model Observations
16
Some other observations
• The longer the duration, the larger the capex
• Physical structures more expensive than natural ones
• The cheaper the storage media, the lower the cost
• The larger the system charge/discharge power (‘C’
rate)
• Lower the $/MW is for the conversion
equipment
• Higher the efficiency (η) is for the conversion
equipment
• The fewer the number of conversion steps the higher
the round-trip efficiency and lower the capex
• The larger the fraction of steady state (design point)
operation the higher the system efficiency
Each conversion has an efficiency BUT also a capex cost
• While there is cost associated with energy ($/MWh) for a
storage media or energy purchased from the grid
• The conversion cost is based on the Rate of Energy
Exchange which we know as power (MW)
• The larger the power, the larger the cost but
usually at a lower specific cost ($/kW)
• For example, a small motor may cost $100/kW
but a larger motor may cost $20/kW
• For a block lifting these efficiencies and equipment are
symmetrical
17. LONG DURATION ENERGY STORAGE 17
Energy Vault – System Overview
COMPETITIVE LANDSCAPE
Source: https://www.energyvault.com/
18. LONG DURATION ENERGY STORAGE 18
Gravitricity – Full-Scale Projects
Port of Leith, Edinburgh
250kW, grid-connected demonstration project using a 15-
metre high rig, 2 25-ton weights suspended by steel cables
Knapton Energy Park, Yorkshire
4MWh of storage with multiple weights
COMPETITIVE LANDSCAPE
Source: https://gravitricity.com/
19. LONG DURATION ENERGY STORAGE 19
Other Gravity-Based Energy Storage Companies
New Energy Let’s Go
Gravity Power
COMPETITIVE LANDSCAPE
Source: https://www.gravitypower.net/ Source: https://n-e-l-g.de/
20. LONG DURATION ENERGY STORAGE 20
Source: https://cleanedge.com/data-dive-charts/Battery-Storage-Market-Map
Other leading companies in the non-gravity-based energy storage
space
COMPETITIVE LANDSCAPE
21. LONG DURATION ENERGY STORAGE
Potential business models and considerations
21
Seems very difficult to generate initial revenues with this
approach.
System implementation needs de-risking.
Especially in a gravity storage system – construction
system being a critical part of IP + process, would be
hard to get an external party to do it successfully.
Possible highest value capture. Requires strong market
application knowledge and on the ground ops.
Potentially possible to do this with appropriate
warrantees and insurance. Effectively a $/kWh sale.
22. LONG DURATION ENERGY STORAGE 22
Key insights for the gravity-based energy storage market
Insights on gravity-based energy storage
1. Centralized power conversion equipment is most effective
2. Automated, intelligently designed construction is critical to reducing cost – one could argue this is a
vertical construction company masquerading as an LDES company
3. Despite high theoretical roundtrip efficiencies, start/stop operations negatively impact the roundtrip
efficiencies (e.g. Energy Vault reports 75-85% r/t efficiencies in publicly available documents) and the
cost of the storage mass and facilities make the economics challenging
Insights on energy markets more broadly
1. Shifting diurnally is most achievable. We want to be discharging the system at positive energy arbitrage
as possible, at a price which clearly pays back its capex.
2. Season shifting requires a 100x+ order of magnitude price reduction on capex (assuming same opex) or
100x+ seasonal energy price change since only a single discharge cycle per year can really happen.
23. LONG DURATION ENERGY STORAGE 23
Interested in building a company in this space?
E-mail: diana@eclipse.vc