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					</table>Liquid air energy storage (LAES) could be a cost-effective long-term energy storage solution, according to a new study by an international research team from the Massachusetts Institute of Technology (<a href="https://web.mit.edu/" target="_blank" rel="noopener">MIT</a>) and the Norwegian University of Science and Technology (<a href="https://www.ntnu.edu/" target="_blank" rel="noopener">NTNU</a>). The study suggests that LAES can provide a reliable method for storing and releasing electricity as needed.
How liquid air storage works
The LAES process involves three stages: charging, storing, and discharging. During charging, ambient air is cleaned, dried, and liquified using electricity. This liquid air is stored in insulated tanks at low temperatures and atmospheric pressure. When electricity demand increases, the liquid air is pressurized, heated, and vaporized, driving a turbine to generate electricity.
The study claims that this process is clean, using only ambient air and electricity, and can be implemented at multiple locations, including near industrial sites that can exchange waste heat to improve efficiency. The technology uses commercially available components and does not rely on rare or expensive materials.
Economic viability
The researchers investigated LAES&#8217; economic viability in future power grids by calculating its net present value (NPV) to determine whether the project will generate more profits than its costs over its lifetime. This value accounts for LAES&#8217; long-term financial feasibility by considering revenues, capital expenditures, and operational costs, all of which are discounted at a 7% rate.
To achieve this, the researchers developed a model to stimulate LAES performance within projected energy markets, utilizing comprehensive pricing data from the National Renewable Energy Laboratory (NREL). Using this model, they analyzed various decarbonization scenarios provided by the NREL across 18 U.S. regions.
The model considered capital expenditures, operating costs, and revenue from the purchase and sale of electricity.
The researchers found that a 100 MW LAES system would only be economically viable if 100% decarbonization is achieved by 2035. Even then, profitability was limited to certain southern states, such as Texas and Florida, where energy market conditions favored LAES technology. The model showed that LAES would be financially sustainable only in scenarios where demand for stored energy was high, particularly in markets with ideal pricing structures.
The researchers also conducted a sensitivity analysis on storage capacity, comparing weekly versus monthly storage durations. Their analysis indicated that weekly storage offered greater economic efficiency, as monthly storage incurred unnecessary costs for excess capacity.
The research emphasizes the crucial role of aggressive decarbonization policies and specific regional market conditions in determining the economic viability of LEAS as a vital component of future sustainable energy grids.
Improving NPV
The research team explored two key factors to enhance LAES&#8217; economic competitiveness: energy efficiency improvements and the implementation of financial incentives.
The report states that while advancements in energy efficiency yielded limited NPV improvements under realistic market conditions, introducing capital expenditure subsidies, ranging from 40% to 60%, enhanced economic viability across all realistic scenarios.
Additionally, integrating LAES with existing power projects and industrial facilities could reduce costs and improve efficiency to make it a more attractive investment for energy providers.
Cost Comparison 
The levelized storage cost for LAES was approximately $60/MWh, regardless of the decarbonization scenario.
The report claims that LAES is approximately one-third the cost of lithium-ion battery storage and half of that of pumped hydro.
This cost advantage can position LAES as a viable option for grid-scale energy storage in the future. Furthermore, LAES does not degrade over time like lithium-ion batteries, ensuring consistent performance throughout its operational life.
The research also found that the location of the LAES system affects its costs, further highlighting the importance of regional analysis.
Last January, MIT researchers <a href="https://www.mercomindia.com/mit-scientists-develop-free-batteries-for-evs" target="_blank" rel="noopener">designed</a> a new lithium-ion battery, which includes a cathode based on organic materials instead of metals such as cobalt or nickel.

Potential of Liquid Air Energy Storage as a Low-Cost Solution: Study

Highview Enlasa, a 50/50 joint venture between <a href="https://highviewpower.com/" target="_blank" rel="noopener">Highview Power</a>, a long-duration energy storage solutions provider, and <a href="https://www.enlasa.cl/en/home.html" target="_blank" rel="noopener">Energía Latina S.A.-Enlasa</a>, a backup power generation provider in Chile, has announced the development of the first liquid-air long-duration energy storage project in Chile.
The 50 MW/500 MWh (10 hours) CRYOBattery™, representing an estimated investment of $150 million, will be in Diego de Almagro in the Atacama region. Construction on the project is estimated to start in the second half of 2023.
Highview Power designed and developed the CRYOBattery™, a proprietary cryogenic energy storage system that aims to enable a 100% renewable energy future. Its proprietary technology uses liquid air as the storage medium and can deliver anywhere from 20 MW/100 MWh to more than 200 MW/2 GWh of energy and has a lifespan of over 30 years. Developed using proven components from mature industries, it delivers pumped-hydro capabilities without geographical constraints and can be configured to convert waste heat and cold to power.
Energía Latina is an open joint-stock company and the parent company of a corporate conglomerate. Its affiliate Enlasa Generación Chile SA owns the historical generation assets.
With one of the highest solar irradiations in the world, the Atacama region has the potential to generate all the country&#8217;s electricity. By pairing solar with cryogenic energy storage, Chile can benefit from round-the-clock 100% renewable energy.
Engineering, procurement, and construction (EPC) on the latest project will be carried out by SK Ingeniería y Construcción, a Chile-based EPC contractor and a subsidiary of the Sigdo Koppers group.
Currently in the pre-feasibility engineering phase, the project is scheduled to enter environmental permitting in August.
&#8220;This is a big step forward to enabling decarbonization goals for Chile,&#8221; said Javier Cavada, Chief Executive Officer and President of Highview Power. &#8220;Our liquid-air energy storage technology is the optimal solution for the large-scale, long-duration energy storage that is needed to balance the grid, without the geographic constraints associated with other energy storage technologies,&#8221; he elaborated.
The Highview Enlasa joint venture would open Latin American energy markets to baseload renewable energy potential. The firm noted that when paired with renewable energy sources such as solar, Highview Power’s long duration energy storage system is equivalent in performance to thermal and nuclear power.
&#8220;The objective of our company is to make this innovative technology available to the market and all actors in the electrical and mining sectors,&#8221; said Fernando del Sol, President of Highview Enlasa. Sol feels that these plants can replace traditional coal plants, which will help the firm accelerate the decarbonization process in Chile and combat climate change.
Highview Power&#8217;s proprietary cryogenic energy storage technology utilizes air liquefaction, in which ambient air is cooled and turned to liquid at -196 °C (-320 ˚F). The liquid air is stored at low pressure and later heated and expanded to drive a turbine and generate power.
It is reportedly the only long-duration energy storage solution available today that is locatable and can offer multiple gigawatt-hours (weeks) of storage. The CRYOBattery™ has a small footprint and is scalable with no size limitations or geographic constraints, allowing for the deployment of massive amounts of renewables. Highview Power noted that their cryogenic energy storage plants offer valuable capabilities, including voltage control, grid balancing, and synchronous inertia that give grid operators the flexibility to manage power and energy services independently.
Last month, Highview Power had <a href="https://mercomindia.com/highview-power-2gwh-energy-storage-projects-in-spain/" target="_blank" rel="noopener">announced</a> that it was developing similar long-duration liquid-air energy storage projects of up to 2 GWh in Spain with an estimated investment of about $1 billion (~₹73.14 billion). The company said that the projects would help various regions in Spain to achieve their net-zero emission targets.
In February this year, Highview Power had said that it had <a href="https://mercomindia.com/funding-and-ma-roundup-enphase-din-engineering/" target="_blank" rel="noopener">closed</a> its Growth Capital round of funding with over $70 million, bringing the total amount of funding and grants the company has secured to date to over $145 million.
Image Credit: Highview Power

50 MW/500 MWh Liquid-Air Energy Storage Facility Coming to Chile

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