Tuesday, June 19, 2012
Amidst the projections of the Industry of energy storage growing to $35 billion by 2020; an Israeli firm Nation-E yesterday unveiled a new battery system that stores, manages and distributes energy, potentially cutting consumers' electricity costs and allowing solar and wind power to be used more effectively.
Battery is a Self Contained Smart Grid:
The battery functions like a self-contained "smart grid" that knows how to store energy when electricity is cheap and demand is low and then give it back during peak hours when tariffs are high.
A 6.7 kilowatt-hour unit, which is about half the size of a refrigerator, can supplement energy to a house for a few hours each charge, while a container-sized 1 megawatt-hour unit can handle an entire neighborhood.
Utilities see efficient energy storage as a vital element of future power grids by helping enable a steady flow of power despite the growth in renewable energy from wind and solar generation, which varies with the weather.
Nation-E is a brainchild of German-born Daniel Jammer, who has not only worked in a variety of fields from real estate to aerospace; but also owned two soccer clubs before founding Nation-E.
Price: A 6.7 KWh system costs around $25,000 and its 1 MWh unit $3.5 million.