The mega industrial lithium-ion energy storage system (ESS) has been ordered by Korea Zinc, a metal smelting company at a cost of 50 billion won, or around $45 million, reports Inhabitat.
Hyundai also points out their ESS will be nearly 50 percent bigger than Tesla’s 129 megawatt-hour grid storage battery in South Australia. Hyundai says their ESS will be operational sometime in February 2018.
Bloomberg New Energy Finance senior associate Ali Asghar said, “Musk has set a benchmark on how quickly you can install and commission a battery of this size,” and that plummeting costs are “making them a compelling mainstream option for energy storage applications in many areas around the world.”
And despite the growing competition to install mega-industrial ESSs, this is not the story. For as Asghar notes, the battery-storage industry has become increasingly important, not only for places that have less access to traditional fossil fuel energy sources but to industries that are heavily energy-intensive, like a metal smelting plant.
Need for “peaker” plants solved
Even as the cost of battery storage systems continues to drop globally, one of the biggest advantages in an industrial-sized ESS is the savings realized from not needing to build “peaker” plants that operate just a few hours a day.
Wind and solar power can be considered intermittent power sources because they may not be efficient when the wind is not blowing or the skies are cloudy. This is where storage batteries smooth out the need to have a traditional power plant as a backup.
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The nation’s largest utility holding company and a major lithium supplier are partnering up to create a new company designed to connect investors with well-researched opportunities in the energy storage sector.
U.S. energy-storage capacity surged 46 percent in the third quarter, mainly due to a single big project in Texas, the biggest source of wind power.
ISO-NE
Since its inception, power generation has been notoriously difficult to build. Even once developers sort through regulatory preferences and siting difficulties, they still must construct huge slabs of modern industry on time and on budget — a feat that’s
Tesla built the world’s biggest lithium-ion battery ahead of schedule. It’s an important milestone for the technology, and for Tesla itself.
New York has become the latest US state to decide to support energy storage through its legislature and will be setting targets for deployment of the technologies in the coming weeks.
One battery to rule them all: when it comes to energy storage technology, it’s hard to beat lithium-ion. However, the rise of wind and solar has brought forth new motivation to develop new batteries that offer higher energy density at lower cost, and it looks like magnesium is in the running.
SAN FRANCISCO–(