Business
Can Energy Vault’s System Solve Our Storage Problems?
2023-03-03
We’ve got billions in the pot for renewables. The technology is there for wind, solar, hydrogen and nuclear, but there’s still a significant hurdle to overcome: the issue of storage.
Energy Vault is a company exploring innovative solutions to this problem. Using the science behind pumped hydro as inspiration, they created a gravity and kinetic-energy based system around massive composite blocks. Excess renewable energy lifts the blocks, then when the energy is needed again, it drops them and converts the kinetic energy into electricity.
The main problem with the grid is that it is designed as a ‘pre-generation’ storage solution, in that we simply convert fuel into energy. Post-generation storage, where we actual store the electricity, is lacking. The grid needs upgrading, and Energy Vault’s system is one solution.
On the Interchange: Recharged, David is joined by Co-Founder and CEO Rob Piconi. Rob believes that the biggest step we need to take to decarbonise is solving our storage problems.
The discussion explores the technology behind Energy Vault, the every-present issue of the supply chain, and the future of investment for the company.
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