Alternative Energy Storage
Why Do We Need Alternative Energy Storage Devices?
Renewable sources of energy are becoming more popular and inexpensive every day. However, there is a huge problem. These energy sources are not constant. The level of energy we can make depends on the sunshine and wind-speed. Therefore, anyone who wants to use clean, renewable energy as a permanent solution must use a storage facility to store the excess power they produce and use it on days when there is not enough sunshine or wind.
The standard storage devices for saving electricity and using it whenever necessary are lithium-ion batteries. Lithium-ion batteries are currently used in many different devices. For example, mobile phones, laptops, cameras, electric cars, and even electric jets are using lithium-ion batteries at the moment. However, there are several drawbacks that make these batteries an unsustainable solution both for the long term and large scale uses.
Firstly, if you want to power a factory or a city using solar panels or wind turbines, you will need huge lithium-ion batteries to store the excess energy. This number of batteries on this colossal scale is not cost-effective. Moreover, lithium-ion batteries are combustible. They can catch fire spontaneously if any harm comes to their internal structure. Finally, lithium-ion batteries have a limited lifespan. They can be charged and de-charged a certain number of times before they start losing capacity. This is why many companies worldwide are trying to come up with a more sustainable and affordable solution.
What are the alternative energy storage devices?
Solid-State batteries
Solid-State batteries use the same technology as lithium-ion ones. The only difference is that in lithium-ion batteries, a liquid electrolyte is used to allow the lithium ions to move between the anode and the cathode. In Solid-State batteries, on the other hand, this liquid is replaced with a solid electrolyte. This means that the spontaneous combustion problem of the lithium-ion batteries is solved. Also, Solid-State batteries have 100% more energy density and can be charged 800 times before losing less than 20% of their capacity.
Solid-State batteries can be used in many devices, from cars to phones, tablets, solar panels, jets, ships, and many more. The first generation of these batteries is going to be introduced into the market in 2021. And most experts believe that this will be the holy grail of energy storage in the next decades.
The revolutionary technology of Solid-State batteries has been developed by a ten-year-old startup company called QuantumScape. This company is backed by many of the biggest names in the industry. For instance, Energy Ventures, led by Bill Gates, and Volkswagen are supporting QuantumScape financially to develop the Solid-State batteries.
Toyota is another company that managed to create its prototype of Solid-State batteries to be used in a car early in 2020. This company is trying to start manufacturing electric vehicles with Solid-State batteries by the end of 2021. The cars manufactured with this technology can run for 500 meters with a single charge, and it takes only 10 minutes to charge them fully. Another company that tries to create its cars with Solid-State batteries at their hearts is Nissan. The prototypes from this company are predicted to be ready by 2028.
HighView Power
Another new technology that can practically replace lithium-ion batteries in solar power plants and wind farms is HighView Power. The technology in HighView Power works in a completely innovative way. In this technology, solar and wind-generated energy is used to cool down air to -160 degrees. This extremely cold air is changed into a liquid, which is 700 times less than air in volume.
When there is a need for energy and solar panels, and wind turbines cannot provide it, the air is changed back into gas and used to drive a turbine and create electricity. This method of storing power to be used in times of need is completely emission-free.
In 2020, HighView Power started a partnership with an independent power company in the UK to create the first CRYObattery in Manchester, England. This storage facility will be located next to a visitor center in 2021 so that people can see how the technology works. The commercial version is going to hit the market by 2023.
Flow batteries
One of the most significant advantages of flow batteries is that their lifespan reaches 30 years without losing any capacity. This makes flow batteries relatively cost friendly compared to other types of energy storage systems.
The most fundamental feature of flow batteries is ion-exchange between two tanks, of one tank separated by a membrane. These tanks are filled with an electrolyte that flows through the electrodes. When the electrolyte is used, it is pumped back into the tanks.
One of the greatest usages for flow batteries is storing excess energy from solar panels and wind turbines. These batteries are more suitable for stationary uses because, on large scales, they can get really heavy. Also, flow batteries are designed for more extended usages than lithium-ion batteries. The energy stored in them can be used over 6 hours and more.
One of the biggest companies that are making flow batteries for commercial and grid usage is Primus Power. Energy Pod 2 is the second-generation stationary battery that can provide energy for up to 5 hours and lives for more than 20 years. This makes Energy Pod 50% less expensive than a lithium-ion battery the same size. One of the companies currently using Primus Power’s Energy Pod is Microsoft. Bill Gates considers this flow battery a breakthrough in energy storage technology; he uses it in his data center in Washington.
How large is the market for alternative energy storage devices?
The global battery energy storage market is expected to reach $19.47 billion by 2027. This number is 20 percent more than the current market size. The increase in the market size is mainly due to the widespread interest in using green energy sources instead of fossil fuels. Today, 28% of all the energy in the world is provided by renewable sources. This percentage is projected to reach 45% by 2040.
The solid-State Batteries market was valued at $32.9 billion in 2019. However, this value is predicted to grow up to 13% by 2027. This amount was $296.5 Million in 2020. The demand for flow batteries will also increase up to 30% over the next few years.
