Long-duration energy storage solution provider Highview Power has developed a modular cryogenic energy storage system, the CRYOBattery, that is scalable up to multiple gigawatts. This technology reaches a new benchmark for a levelized cost of storage (LCOS) of $140/MWh for a 10-hr, 200-MW/2-GWh system. Highview Power’s systems can enable renewable energy baseload power at large scale, while also supporting electricity and distribution systems and providing energy security.
“This is a pivotal moment for the renewable energy industry and for anyone who wants to deploy large amounts of renewables,” said Javier Cavada, president and CEO of Highview Power. “As more and more renewables are added to the grid, long-duration, giga-scale energy storage is the necessary foundation to make these intermittent sources of power reliable enough to become baseload. Not only does our CRYOBattery deliver this reliability and allow scalability, it is proven, cost-effective, and available today.”
Highview Power’s proprietary cryogenic energy storage technology uses liquid air as the storage medium and has the ability to provide voltage support, frequency regulation and black start capabilities. Unlike competing long-duration technologies, such as pumped hydro-power or compressed air, Highview Power’s CRYOBattery can be sited just about anywhere. The CRYOBattery has a small footprint, even at multiple gigawatt-levels, and does not use hazardous materials.
Alex Eller, senior research analyst with Navigant Research, said, “Long-duration technologies such as cryogenic energy storage will become increasingly necessary for an electricity system to transition from a primary reliance on conventional fossil fuel generation to a grid dominated by variable renewable generation from solar and wind.”
Cavada said Highview Power’s CRYOBattery can enable grid operators to maximize renewable penetration without needing fossil fuel generation to make up for intermittency. “This makes replacing gas peaker power plants with a combination of solar, wind, and energy storage a viable reality and truly sets the stage for a future where 100% of the world’s electricity comes from clean energy sources,” he said.read more