A new energy storage solution could resolve one of the biggest challenges facing renewables. The system, proposed by start-up Malta Inc., sets out to draw electricity from the grid in times of plenty and store it for hours or days, waiting until there is a period of high demand, when the power is released back to the grid. A key ingredient of the system is heat transfer technology supplied by Alfa Laval, as both project partner and investor.
Due to the rapid growth of the world’s population, the growing industrialisation of some of the most populous areas of the planet, increasing urbanisation and the rising demand for new technologies and industries – such as blockchain and electric vehicles -, the energy supply is one of the most pressing issues of the 21st Century. Energy production based on fossil fuels does not cover the energy needs and furthermore, these methods are unsustainable. Regardless of political or environmental ideology, renewable energies will play a major role in the energy model of the future.
In addition, for the first time in history, renewables are cheaper than fossil fuel-based electricity sources, meaning that it really does not matter if one believes in climate change or sustainability; the economy is driving an ever-increasing penetration of renewables. However, this penetration brings with it new complications. Wind and solar power, for example, cannot completely replace traditional energy sources, because they can only produce energy when the wind blows or the sun shines.