Compressed air energy storage (CAES) offers a massive opportunity for energy storage as the world’s needs grow.
Population expansion and economic growth are heralding more need than ever for energy. And we need that energy to be both cost-effective and sustainable. Thankfully there are plenty of solutions to the energy crisis coming about.
But where are we going to store all of that energy, since lithium-ion batteries are no longer seen as sustainable? China has just connected the world’s most efficient CAES plant, and Storelectric co-founder, Mark Howitt, believes the future is bright for this technology.
Storelectric is in the business of developing green and hydrogen energy storage. “The world is electrifying fast,” says Howitt, adding that CAES is the most cost-effective solution for meeting the world’s demand.
Storelectric is currently in negotiations with various locations on its mission to build its first plant. But the dream extends far beyond that. “The dream is to enable renewables to power the world, affordably, reliably, and resiliently,” says Howitt.
One thing is for sure: CAES is something the energy sector is taking very seriously indeed.