In remote or off-grid applications, e-Zinc’s energy storage technology will primarily displace diesel power generation (the status-quo for off-grid), which is expensive and has high greenhouse gas emissions. Off-grid sites are increasingly adopting solar and wind energy, and some have adopted batteries, however batteries can only provide a few hours of capacity due to the prohibitive costs. e-Zinc’s technology, given its low cost of energy capacity, can cover long periods of no sun or wind, enabling 100% renewable solutions. Off-grid markets and applications include:
The resiliency / back-up power market is an ideal market segment for e-Zinc because its value proposition is unique and unmatched. As an example, for a large residential or small commercial/industrial site in California, e-Zinc’s technology could provide an affordable and reliable source of backup power for 1-2 days or longer (vs. only a few hours with commercially available batteries), in the case of a grid outage or fire prevention public safety power shutoff.
In addition to increased resiliency, e-Zinc’s technology could be cycled daily to reduce costs through demand charge reduction, or energy use shifting (i.e. time-of-use arbitrage), with adequate stored energy reserved for unexpected outages.
As renewable energy penetration increases on-grid, there will be an exponential increase in the need for long-duration storage to ensure energy supply meets demand. States like Hawaii and California have already established their paths to 100% renewables, both by 2045, and these markets offer an insight into how significant this market really is. One study published in the MIT Technology Review illustrated that California will need twenty times (20x) its existing 150,000MWh of energy storage by 2020 when it achieves its 50% renewables target. Most strikingly, its predicted that the state would require four thousand times (4,000x) the existing energy storage, or 36MM MWh, by 2045 once renewables account for 100% of the energy system.
The U.S. Department of Energy completed a study which concluded that there is a significant need for a technology that can deliver energy for a capital cost of less than $20/kWh with durations longer than 100 hours.