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This hearing will review Bipartisan Infrastructure Law policies and investments that would improve grid resilience and consider which additional climate investments are needed.
Published under the auspices of the World Economic Forum Global Future Council on Clean Electrification, this Insight Report invites policy-makers, regulators and investors to place greater focus on the demand side of the electricity system. It presents the technology, business models and system governance necessary to unlock flexible demand in the grid infrastructure to achieve a net-zero grid. Nine recommendations to get to net zero by increasing clean electrification are outlined under three main themes: digital technology is the fundamental enabler of a resilient net-zero grid; new business models will make a net-zero grid affordable; and a new comprehensive system governance model will be vital to ensuring a seamless and resilient net-zero grid.
[co-author: Oretha A. Manu]
Hydrostor Receives Funding for Utility-Scale A-CAES Facility
On 15 April, Hydrostor announced receipt of nearly US$4 million in funding from Natural Resources Canada’s Energy Innovation Program and Sustainable Development Technology to develop a 300-500 megawatt (MW) Advanced Compressed Air Energy Storage (A-CAES) facility. An A-CAES facility uses renewable energy or excess grid energy to compress air that is then funneled into underground caverns, displacing water and creating storage capacity. This process creates heat that is captured and stored to reheat the compressed air when energy demand exceeds supply.
This funding will subsidize design and engineering work at the new facility. The goal is to provide up to 12 hours of long-duration energy storage in Canada. Hydrostar is currently developing a 500 MW A-CAES facility in Southern California to provide on-demand peaking capacity for 12 hours of duration once it becomes operational in 2024.
Duke Energy and the Tennessee Valley Authority TVA announced shifts in their respective goals to become carbon neutral. In its annual sustainability report, Duke Energy discussed its plan to nearly triple the renewable energy share of its energy mix.