An innovative new, large-scale (over 100MW) electricity-storage technique developed by Isentropic Ltd would cost less than 30% of the capital cost of the equivalent Pumped Hydro Storage, according to an independent report produced by engineering consultant Parsons Brinckerhoff.
Cost efficient electricity storage is a vital component of balanced generation in any region, particularly one where intermittent generation by renewable sources such as wind, wave and tide is a significant component. In the report’s detailed example, the cost for a plant with six hours of storage is estimated to be $618/kW, giving a breakthrough per hour storage cost of $103/kWh. The report also estimates a round-trip efficiency in excess of 90%.
James Macnaghten, CEO of Isentropic Ltd, says: “Pumped Hydro is the current market leader for low-cost energy storage. It is much cheaper than batteries, even factoring in future price reductions. This report shows Isentropic Ltd’s technique to be 30% of the cost of Pumped Hydro, making it a potential game changer. Additionally, because Isentropic Ltd’s system can be built largely from equipment developed from off-the-shelf components, an exceptionally low levelized cost of storage can be expected. This promises to make new large-scale electricity storage commercially viable in almost all of today’s electricity markets."
Dominic Cook, Asset Management Director at Parsons Brinckerhoff, says: "With our extensive experience of global generation and supply networks, we have been able to provide the flexible mix of specialist skills and industry expertise required to properly evaluate and validate this exciting new technology."
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