Gravitricity’s £1m gravity-based energy storage system has moved a step closer towards its first trials in Edinburgh early next year, with assembly of its custom-built winches and control system having begun at a specialist factory in the Czech Republic, the UK start-up revealed yesterday. The pilot project is aimed at demonstrating how its innovative energy storage system could harness the power of gravity to store energy and provide grid balancing services, by raising multiple weights totalling up to 12,000 tonnes in a deep shaft, which would then be released again when power is required.
Business Green 1st Sept 2020 read more »
There’s something elegant about electricity arbitrage (Patrick Hosking writes). Buy power cheaply from the grid at 3am, when those giant wind turbines in the North Sea are spinning, then sell it back expensively at 7am, when the nation starts boiling kettles. What could be a greener way of matching supply to demand while turning a profit? Gresham House Energy Storage Fund is one of several listed vehicles trying to harness these sometimes big swings in power prices by the not-so-simple process of storage in gigantic battery packs. It has invested in nine sites in Britain, housing shipping containers with lithium-ion batteries, with more to come. Sometimes the process works like a dream, as on March 4 this year, when weather forecasters mistakenly predicted gusts. It was calm, there was a power shortage and the wholesale price hit a 19-year high of £2,242 per megawatt hour, more than 40 times normal levels. The fund was able to hit the jackpot by draining its batteries at just the right time.
Times 2nd Sept 2020 read more »