Israeli firm unveils smart power storage system
- Energy storage units can communicate with power grid
- Industry of energy storage could grow to $35 billion by 2020
By Ari Rabinovitch
HERZLIYA, Israel, June 18 (Reuters) - Israeli firm Nation-E unveiled a new battery system that stores, manages and distributes energy, potentially cutting consumers' electricity costs and allowing solar and wind power to be used more effectively.
The battery functions like a self-contained "smart grid" that knows how to store energy when electricity is cheap and demand is low and then give it back during peak hours when tariffs are high, the company said on Monday.
A 6.7 kilowatt-hour unit, which is about half the size of a refrigerator, can supplement energy to a house for a few hours each charge, while a container-sized 1 megawatt-hour unit can handle an entire neighborhood, said Nation-E President Daniel Jammer.
"Our technology is available and secure and rolling out to commercialise," he said.
Utilities see efficient energy storage as a vital element of future power grids by helping enable a steady flow of power despite the growth in renewable energy from wind and solar generation, which varies with the weather.
German-born Jammer, who worked in a variety of fields from real estate to aerospace to owning two soccer clubs before founding Nation-E, said he could picture battery systems of different sizes scattered around the country communicating with each other to optimise energy use.
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