Innovations aimed at reducing the costs of Compressed Air Energy Storage (CAES) involve several key strategies:
1. Thermal Energy Management and Storage
- Isothermal Processes: Developing isothermal compression and expansion processes to minimize thermal energy losses. This can significantly improve round-trip efficiency.
- Heat Recovery Systems: Implementing thermal energy management systems to capture and reuse heat generated during compression, reducing the need for additional fuels like natural gas. Companies like Storelectric are working on such systems to increase efficiency and reduce emissions.
2. Alternative Storage Containers and Locations
- Modular Containers: Startups like Cheesecake Energy are developing modular storage containers that can be used without specific geological formations, reducing site-dependent limitations and costs.
- Underwater Storage: Innovations like BaroMar’s underwater storage tanks leverage water pressure to maintain structural integrity, potentially lowering costs further by expanding deployment options beyond traditional geological sites.
3. Repurposed Infrastructure
- Repurposed Pipelines: Utilizing existing pipelines can greatly reduce the capital costs associated with constructing new facilities for CAES, making it more economically viable.
4. Increased Efficiency and Cost Reductions
- DOE Initiatives: The U.S. Department of Energy (DOE) is actively promoting long-duration storage through funding opportunities and research initiatives. These efforts aim to reduce the cost of CAES by leveraging innovations in materials and processes.
5. Scalability and Flexibility
- Scalability: CAES can be scaled up by using large underground reservoirs, offering a significant advantage in long-duration energy storage.
These innovations are crucial for enhancing the viability of CAES as a cost-effective solution for long-duration energy storage, potentially helping to meet the DOE’s target of reducing costs to $0.05/kWh by 2030.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/what-innovations-are-being-developed-to-reduce-the-costs-of-compressed-air-energy-storage/
