How Liquid Air Energy Storage Could Cut Costs by 50%
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📰 The quick summary: New research shows liquid air energy storage systems can store large amounts of renewable energy cleanly and cost-effectively, helping solve the intermittency challenges of solar and wind power.
📈 One key stat: Liquid air storage costs about $60 per megawatt-hour – just one-third the cost of lithium-ion battery storage and half that of pumped hydro storage.
💬 One key quote: “While LAES systems may not be economically viable from an investment perspective today, that doesn’t mean they won’t be implemented in the future,” says researcher Shaylin A. Cetegen.
1️⃣ The big picture: As the world transitions to renewable energy sources like solar and wind power, storing large amounts of electricity for extended periods becomes crucial. MIT and Norwegian University researchers studied liquid air energy storage (LAES) as a promising solution. This technology works by cooling air until it liquefies, storing it in tanks, and later using it to generate electricity when needed. The researchers developed models to analyze where and when LAES systems could be economically viable on future decarbonized power grids.
2️⃣ Why is this good news: LAES offers several key advantages as a grid-scale storage solution. The technology is completely clean, using only ambient air and electricity without any contaminants. It can be built using commercially available components without rare materials. LAES systems can be located almost anywhere, even near industrial processes where waste heat improves efficiency. Most importantly, the storage costs are significantly lower than established alternatives like batteries and pumped hydro.
3️⃣ What’s next: Financial incentives like capital expenditure subsidies of 40-60% could make LAES economically viable under realistic decarbonization scenarios. Researchers are now comparing the costs and benefits against lithium-ion battery storage systems. With limited options for grid-scale storage and growing needs for energy security, LAES shows promise as a key storage solution that merits continued exploration and development.
Read the full story here: MIT News – Using liquid air for grid-scale energy storage
