Before going into the information that we want to tell you, let’s talk first about Xcel Energy, it is a utility company that supplies power to millions of customers in eight US states. The company generates and supplies electricity and natural gas to residential, commercial and industrial customers.
In addition, the company invests in renewable energy sources such as wind and solar power, it should also be mentioned that it works to reduce its carbon footprint and promote energy efficiency. In addition, it is currently exploring new energy storage technologies, smart grids and electric vehicles, and with the goal of 100% clean energy distribution by 2050.
The iron-air batteries would be finished this year
Now yes, let’s get down to business, Xcel Energy has managed to obtain a grant of 20 million dollars from Breakthrough Energy Catalyst to finance two energy storage projects. The projects aim to maximize the use of renewable energy sources while maintaining grid reliability.
This investment by Breakthrough Energy Catalyst will be divided into $10 million for each of these 10 MW/1000 MWh iron-air battery projects, although they are subject to certain financing conditions. Xcel Energy and Form Energy had previously announced a partnership to build the batteries at the Becker (Minnesota) generating station, and the Pueblo (Colorado) generating station.
The batteries will store renewable energy while it is being generated and will distribute it during periods of lower consumption. Iron-air battery systems will provide a low-cost, long-life energy storage solutionessential to integrate renewable energy sources into the grid.
The projects are expected to be completed in 2023 and the batteries are expected to have a useful life of between 20 and 30 years. Breakthrough Energy Catalyst funding will support the development, construction and operation of these projects. Xcel Energy CEO, Bob Frenzel, has highlighted the importance of long-term energy storage technologies to achieve 100% carbon-free electricity.
He has expressed gratitude for Breakthrough Energy Catalyst’s $20 million investment, which will accelerate adoption of this technology, allowing Xcel to supply higher percentages of renewable energy while still providing affordable electric service to its customers.
Form Energy iron-air batteries they can supply electricity for 100 hours at a cost that can compete with that of conventional power plants. It should be noted that most existing battery technologies provide less than eight hours of energy storage, so the advantage is significant.
More information: elperiodicodelaenergia.com
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