Energy can be stored in other ways!
The U.S. government is spending over $100 billion annually on climate change relief - this is more taxpayer money than education or transportation. Climate change is a man made problem and the way to solve it is to reduce carbon on the power grid.
What’s the problem – why can’t we just start using renewables and cut carbon emissions?As early as next year, the grid becomes unmanageable due to massive load swings caused by intermittent renewable power.
The solution requires energy storage to capture excess generation and deliver it reliably throughout the day. At current storage costs ($300-600/kWh), renewables will be nothing but a niche source of clean power.
Water is a vital energy resource and it can be utilized to efficiently store electricity at extremely large capacities. Pumped hydro is the largest form of energy storage today over 127,000 MW.However it can’t be implemented everywhere.
Quidnet has developed a new form of pumped hydro that is widely deployable at very low cost. Leveraging mature oil & gas technology, wells can be converted into energy storage facilities.
How does it work? Water is used to apply pressure to a rock fracture and “compress” the rock. Compression of the rock is elastic and the rock relaxes, forcing water out of the well (hydropower).
Utilizing conventional reservoir technology and off-the-shelf hydraulic turbine-generator equipment to achieve a cost target of ~ $400/KW and from $25 to $130/ kwh, depending on the installation.
This represents a 90% cost reduction compared to the most advanced batteries.
Hundreds of thousands of wells across the country are abandoned or beyond their useful life. These same locations have significant renewable power generation.
Existing wells can be used to service the enormous energy storage demand in California and Texas. A typical O&G well can store > 200 MW hrs of energy.
Not the same as hydraulic fracturing
• Hydraulic fracturing requires chemicals to carry proppant into a fracture and hold it open
• This mobilizes hydrocarbons – oil and gas move out of the pore space
• Fracking fluids and produced water return and must be disposed of
• Injection of large volumes of produced water can cause seismic activity
• Quidnet uses pressurized water to open natural fractures
• No chemicals or proppants are required
• No waste or produced water is generated – closed water loop
• No seismic activity (no fluids to dispose)
• No significant freshwater use – water is not being consumed