1. Hydrostor plans to construct two massive long-term energy storage facilities in Australia and California.
2. The technology uses air and water to store energy underground, with the ability to discharge electricity for up to eight hours.
3. California has estimated the need for 4 gigawatts of long-term energy storage capacity to meet the goal of 100 percent clean electricity by 2045.
Hydrostor, a Toronto-based company, is planning to build two large long-term energy storage facilities in Australia and California. The Australian facility will be able to discharge 200 MW of electricity for up to eight hours, while the California facility will supply 500 MW of power for the same duration. The technology used by Hydrostor involves compressing air underground and storing heat for later use to generate electricity.
The cost-effective technology of long-duration energy storage is crucial for a fully decarbonized electrical grid, according to the Department of Energy. Hydrostor is one of about 100 companies focused on developing long-duration energy storage, with a projected lifespan of 50 years for its systems. The company aims to reduce costs as it gains experience from its initial plant installations.
Despite facing challenges in the permitting process and design modifications in California, Hydrostor is working towards providing a solution for long-duration energy storage in the state. The California Energy Commission has highlighted the need for 4 gigawatts of long-term energy storage capacity to achieve 100% clean electricity by 2045. By using techniques established in the oil and gas industry, Hydrostor believes it can quickly implement its energy storage technology and help transition to renewable energy sources.