More than 50% of all energy demand globally is for heating. Electrification of these heat loads will require much larger and more capable electric grids. If we electrify our heat loads using thermal storage, then we can dramatically reduce the quantity of expensive electricity storage (like lithium-ion batteries) needed to expand the electrical grid as it becomes dominated by more and more intermittent renewable energy sources like solar and wind. The industrial electrical loads using a JHTB will be dispatchable while providing 24/7 heat to industry. This increases utilization of grid assets, which will help dramatically decrease the cost of the grid expansion to come. All of this can be accomplished by our Joule Hives at a fraction of the capital cost of lithium-ion batteries.
Today, across the world, lithium-ion batteries are being deployed in massive quantities and at great cost to balance the intermittent production of renewable energy sources and the inflexible production of nuclear and hydropower. Lithium-ion batteries enable us to move the renewable electricity to the time that electricity users need it. With thermal batteries like the Joule HiveTM thermal battery, we can accomplish the same objective at much lower cost by shifting load to the time of generation. Joule Hive thermal batteries can charge up when power prices are low and inflexible generation is highest (and typically cleanest), providing the lowest cost energy to the customer but also reducing the need for generation-side balancing.
We’re actively working with customers to spec and deploy systems at their facilities. If you are looking for the lowest-cost solution to completely decarbonize your industrial heat processes, please reach out. We can replace a boiler, expand capacity, and enhance capabilities at lower cost or close to parity with yesterday’s solutions.