compressed air energy storage technology News

Six ARPA-E projects illustrate private investors excited about clean energy innovation

In a little over one year, six projects that received a total of $23.6 million in seed funding from the Department of Energy's Advanced Research Project Agency - Energy (ARPA-E) have generated more than $100 million in outside private capital investment, Energy Secretary Steven Chu announced today. The six projects, which received between $750,000 and $8 million each, focus on improving solar ...

Feb. 3, 2011

By US Department of Energy

GE and partners invest in new technology

GE and its venture capital partners today announced a collective investment of $55 million in leading power grid technology companies as part of the $200 million "GE ecomagination Challenge". This is the first of several rounds of innovation funding planned by GE and its venture capital partners as part of the Challenge, a global commitment to accelerate the development and deployment of power ...

Nov. 19, 2010

By GLOBE SERIES

Compressed Air Energy Storage Will Reach $4.8 Billion in Annual New System Revenue by 2023

Driven by growing penetration of intermittent renewable energy, increasingly constrained grid conditions, and the need for investments in electricity infrastructure, compressed air energy storage (CAES) – a technology that has been commercially available for more than 30 years – is enjoying a surge of renewed interest. In Asia Pacific, Europe, and North America, new installations of ...

Dec. 6, 2013

By Navigant Consulting, Inc. (NCI)

Gaelectric completes $84 million funding round for on-shore wind energy portfolio in Ireland

Renewable energy generation and energy storage group, Gaelectric, has raised $84 million in funding for its portfolio of on-shore wind energy projects on the island of Ireland. The portfolio comprises 164 MW of generation capacity across 13 projects which the Group plans to develop out by 2017, representing a total investment in the region of $325 million. Gaelectric is developing a further ...

Mar. 25, 2013

By Enercon Services Inc

Energy storage technologies to reach $122 billion by 2021

On a fundamental level, electric grids require balance in order to function properly. Energy storage technologies are emerging as a means of providing grid operators with an alternative to traditional grid management. Key applications for long-duration energy storage include counterbalancing the intermittency of renewable energy sources like wind and solar power, leveling the loads and ...

Jul. 18, 2011

By GLOBE SERIES

Renewable energy plan hinges on huge Utah caverns

A proposal to export twice as much Wyoming wind power to Los Angeles as the amount of electricity generated by the Hoover Dam includes an engineering feat even more massive than that famous structure: Four chambers, each approaching the size of the Empire State Building, would be carved from an underground salt deposit to hold huge volumes of compressed air. The caverns in central Utah would ...

Sep. 24, 2014

By Associated Press

Major changes are in store for electricity industry

Inventors are in a race to find the best way of storing electricity to make the most of renewables and cut the use of fossil fuels. Currently, when more power than needed by consumers is produced by sources such as wind turbines or solar panels, some of the electricity is wasted. But that is changing. Governments have realised that one of their biggest challenges in cutting the use of fossil ...

Apr. 26, 2015

By Climate News Network

US, China, South Africa lead rebound in clean energy investment

Second quarter investment rises 22% compared to Q1, but shrunken figure for Europe ensures that world total stays below that for Q2 last year Global investment in clean energy was $53.1bn in the second quarter of 2013, up 22% from the first quarter thanks to an upturn in the financing of wind and solar projects and a 170% surge in equity funding for specialist companies on public markets. The ...

Jul. 11, 2013

By Bloomberg New Energy Finance

World's Largest Renewable Energy Storage Project Announced in Utah

Mitsubishi Hitachi Power Systems (MHPS) and Magnum Development recently (5/30) joined The Honorable Gary Herbert, Governor of Utah, to announce an initiative to launch the Advanced Clean Energy Storage (ACES) project in central Utah. In the world's largest project of its kind, the ACES initiative will develop 1,000 megawatts of 100 percent clean energy storage, thereby deploying technologies and ...

May 31, 2019

By Smart Grid Observer

Pike Research Announces Energy Storage Tracker Report This Week

(Business Wire) - Pike Research, a media partner at the 2nd Annual Electric Energy Storage Conference, came out with a new tracker report this week, signifying that there are hundreds of energy storage projects being deployed worldwide. To view the original press release written by Pike Research, go to: ...

Oct. 26, 2011

By Marcus Evans

Hydrostor and NRStor Announce Completion of World’s First Commercial Advanced-CAES Facility

Hydrostor, the world’s leading developer of Advanced Compressed Air Energy Storage (A-CAES) projects, in partnership with NRStor Incorporated, a diversified Canadian energy storage project developer, announce the completion of the Goderich A-CAES Facility, located in Goderich, Ontario, Canada. The plant represents a pivotal advancement in long-duration energy storage and a world first in ...

Nov. 25, 2019

By Hydrostor Inc.

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