When the sun does not shine and wind does not blow, the power must be provided from other sources. When the fluctuating generation becomes the dominant means of generating energy, long-term large storage capacities will be required in order to guarantee a affordable safety of the supply during periods of little or no wind, and during darkness.
- Excess power from PV or wind plants is stored (purchased) during the day or in windy hours and is discharged (sold) at night or low wind periods.
- Utility companies and PV/wind farm operators must provide a reliable power supply 24/7 and thus need bulk storage.
- Manufacturers seek for production sourced by 100% renewables to show a low product carbon footprint to their customers.
- Grid operators need bulk storage to catch the ramping loads occurring during sunrise and sunset periods and wind conditions.
The design of the Gravity Storage plant, in terms of pump and turbine dimensions, etc., depends on the operator´s intended application. There are several revenue models that may then be applied, which can be combined with each other if desired:
Gravity Storage supports all options to earn money in storage business:
- Arbitrage Business: Charge at low whole sale prices and discharge at higher prices
- Customized Electricity Supply: Combine generation and storage capabilities to deliver electricity as requested by the customer and as 24/7 green PPA at a calculable price.
- Provision of Balancing Power: Intermittent generation requires fast ramping capacities.
- Provision of ancillary services such as frequency regulation, voltage support, black start capability (inertia to rotating masses) and spinning reserve capacity.
To be built cost-wise, Gravity Storage needs a solid geology as a prerequisite. That´s why our business model doesn´t overlap with neither pumped hydro storage (which needs elevation – Gravity Storage does not) nor with compressed air storage (because they need cavern and fissured rock).
The most likely markets for Gravity Storage are regions, where photovoltaic has the potential to source large proportions of the energy demand in the future. USA, Middle East and Northern Africa, China, India and Australia are the core markets of Gravity Storage. But also, Europe need new bulk storage solutions, especially for off-shore wind production around the North Sea.
For more information on the financial model of Gravity Storage, please contact us: firstname.lastname@example.org