5. Tech news: A very big storage project
Mitsubishi Hitachi Power Systems (MHPS) and Magnum Development yesterday announced plans for a big 1,000-megawatt energy storage project in Utah aimed at helping the dispatch of renewable power.
Why it matters: Expanding energy storage is key to bringing ever-larger amounts of renewable electricity onto power grids and enabling it to be dispatched in accordance with ebbs and flows of consumer demand.
Where it stands: It envisions using renewable hydrogen, compressed air energy storage, large scale flow batteries, and solid oxide fuel cells.
- The proposed project would utilize salt caverns owned and controlled by Magnum.
- "With five salt caverns already in operation for liquid fuels storage, Magnum is continuing to develop Compressed Air Energy Storage and renewable hydrogen storage options," the announcement states.
The intrigue: Via the Financial Times, which puts the project at $1 billion, "cost-effective large-scale storage using hydrogen or compressed air would be a significant breakthrough for the industry."
What they're saying: "This is the first large-scale, long-duration storage initiative announced in the U.S. in recent years," said Wood Mackenzie Power & Renewables analyst Ravi Manghani in this Greentech Media piece.