Hydrostor is making strides in the long-duration energy storage industry, with a projected lifespan of 50 years for its storage systems. This longevity sets it apart from other technologies like battery systems, which have much shorter lifespans.
Yiyi Zhou of BloombergNEF highlighted Hydrostor as one of the leading companies focused on long-duration energy storage. Their technology is considered relatively mature, and the company has been successful in attracting investment.
As of last September, BloombergNEF reported a global total of 1.4 gigawatts and 8.2 gigawatt-hours of long-duration energy storage, with an average duration of 5.9 hours. Hydrostor alone is developing projects with a combined capacity of 0.9 gigawatts, contributing significantly to the global total.
Looking ahead, compressed-air storage and flow batteries are expected to lead the way in adoption of long-duration storage technologies. However, challenges remain in the industry, with many projects facing hurdles during development.
Hydrostor’s projects in Australia and California are in the spotlight, with the California project undergoing changes in design and location to address regulatory concerns. The state is keen on building long-duration energy storage, with a goal of 4 gigawatts by 2045 to achieve 100 percent clean electricity.
The success of Hydrostor’s projects could pave the way for further expansion in the industry. VanWalleghem is optimistic about the growth potential and envisions multiple projects coming to fruition in the near future.
