Sage Geosystems raises $17M to build first-of-its-kind geothermal energy storage system in Texas – The plant will be able to store energy for both short and long durations using pressurized water stored underground.
Sage Geosystems raises $17M to build first-of-its-kind geothermal energy storage system in Texas – The plant will be able to store energy for both short and long durations using pressurized water stored underground.
>Last September, Sage Geosystems conducted a pilot to test its technology and concluded that it could provide 18 hours or more of storage capacity at a cost that can compete with both shorter-duration lithium-ion batteries, as well as longer-duration pumped storage hydropower. The levelized cost of storage for its technology depends on duration and is between 2 cents/kWh and 4 cents/kWh, according to the company.
>Sage’s technology involves drilling a well to form a fracture in a certain kind of rock formation, which is then used as a makeshift reservoir. Excess solar, wind or other renewable energy can be used to pump water into that reservoir, causing it to expand and store the water under pressure. When electricity is needed back on the grid, opening the facility’s valves will send water back to the surface, where it will turn a turbine to generate power. The company expects the technology can complement renewable energy, as well as replace gas peaker plants during periods when the grid is especially stressed.
>Now, the company is preparing a first-of-its-kind commercial geothermal system in Texas. Sage is manufacturing equipment for the 3-MW facility and plans to begin constructing it in the second quarter of 2024, aiming for a commission date in the fourth quarter of the year. The exact location of the plant has not yet been announced.
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>Last September, Sage Geosystems conducted a pilot to test its technology and concluded that it could provide 18 hours or more of storage capacity at a cost that can compete with both shorter-duration lithium-ion batteries, as well as longer-duration pumped storage hydropower. The levelized cost of storage for its technology depends on duration and is between 2 cents/kWh and 4 cents/kWh, according to the company.
>Sage’s technology involves drilling a well to form a fracture in a certain kind of rock formation, which is then used as a makeshift reservoir. Excess solar, wind or other renewable energy can be used to pump water into that reservoir, causing it to expand and store the water under pressure. When electricity is needed back on the grid, opening the facility’s valves will send water back to the surface, where it will turn a turbine to generate power. The company expects the technology can complement renewable energy, as well as replace gas peaker plants during periods when the grid is especially stressed.
>Now, the company is preparing a first-of-its-kind commercial geothermal system in Texas. Sage is manufacturing equipment for the 3-MW facility and plans to begin constructing it in the second quarter of 2024, aiming for a commission date in the fourth quarter of the year. The exact location of the plant has not yet been announced.