Highview Power and Encore Renewable Energy to co-develop the first long-duration, liquid-air energy storage system in US
Highview Power Storage, Inc., a provider of long duration energy storage solutions, and Encore Renewable Energy, a developer of renewable energy generation and storage projects, jointly announced plans to develop the United States’ first long-duration, liquid-air energy storage system. This facility will be a minimum of 50MW, provide in excess of eight hours of storage (400MWh) and will be located in northern Vermont.
With Highview Power’s liquid air energy storage solution, excess or off-peak electricity is used to clean and compress air which is then stored in liquid form in insulated tanks at temperatures approaching -320 ˚F (-196 ˚C). When electricity is in high demand and more valuable, the pressurized gas is allowed to warm, turning a turbine as it expands and thus generating energy that can be used at peak times when the sun is not shining and the wind is not blowing.
Highview Power’s proprietary liquid air energy storage system, called CRYOBattery, relies on low-risk, proven technology, generates zero emissions, has zero water impact and can be delivered at a cost of approximately half of the current cost of traditional lithium-ion batteries. At utility-scale, Highview Power’s long duration energy storage systems paired with renewables are equivalent in performance to fossil fuel powered thermal and nuclear baseload power.
The US energy storage market is expected to surge over 700% to nearly $5.4 billion by 2024, driven mostly by utility-scale projects, according to analyst firm Wood Mackenzie Power & Renewables.
The project is the first of many utility-scale, liquid air energy storage projects that Highview Power plans to develop across the United States to help scale up renewable energy deployment. The Vermont facility will contribute to resolving the longstanding energy transmission challenges surrounding the state’s Sheffield-Highgate Export Interface (SHEI) and enable the efficient transport of excess power from renewable energy sources, such as solar and wind power to help integrate them on the power grid.
In addition to supplying clean, reliable, and cost-efficient energy storage, the facility to be developed by Highview Power and Encore will provide valuable services to the area’s transmission system to help integrate renewable energy, stabilize the regional electrical grid, and ensure future energy security during storms and other disruptions. This includes the ability to store energy for weeks at the lowest levelized cost of long duration storage in the industry, and providing what is called “grid-synchronous inertia,” which balances electrical demand and supply and helps avoid blackouts.
Other services the facility can deliver include market arbitrage, frequency management, reserve, and grid constraint management services. Highview Power and Encore are in discussions with potential utility and transmission grid operator customers regarding the capabilities and services the facility can provide.