I had a very interesting conversation Wednesday with Ian Kraemer, founder and CEO of a startup company called New H2O Energy. Ian is a 40-year veteran of the coal and minerals mining industry, and has developed an innovative solution that involves exploiting existing coal mines for use as an energy storage solution to back up wind and solar power. The company started in Australia, but Kraemer has brought it to the US where he believes there is greater growth potential.
Ian does a great job of describing the concept in the interview below. Give it a watch:
Here’s a visual of how the process works:
Good stuff!
We have a big pumped hydro project in Australia called Snowy2.0 it was expected to cost 4-5 Billion and deliver power a year or two ago, it is now going to cost over 10 Billion and possibly 15 or 20 and it might generate power one day.
https://www.flickerpower.com/index.php/search/categories/general/the-snowy2-0-pumped-hydro-scheme
40% of the power is wasted in pumping.
I am not aware of any serous pumped hydro system in the world that runs on wind and solar power, all the big ones run on conventional power
Sounds like just another green energy scam. It's all about riding the renewables money-no-object gravy train. It's just another version of pumped hydro except for flat terrain, if there happens to be a large defunct coal mine in the area. Which may have transmission for a modest amount of power like 5-50MW. That ain't gonna change the World.
Pumped hydro still works best in hilly regions where you can make two giant reservoirs at a substantial difference in elevation. Even with that it is still very expensive.
Latest Hydro costs in Canada are coming in @ $8B-$15B per delivered GW. And pumped hydro is two hydro plants in tandem with a much lower efficiency. As Rafe states below Snowy Hydro 2.0 in Australia is a complete disaster. We already have amazing energy storage, it's called coal, gas, oil, uranium & thorium.
This fellow thunderf00t busts a similar green energy storage scam, designed to mine massive green energy subsidies handed out like candy to kids from birdbrains who typically become "minister of energy & the environment". Green energy mining is more valuable than a gold, platinum and iridium mine all rolled into one:
Energy Vault: MEGA-BUSTED!
https://www.youtube.com/watch?v=XxGQgAr4OCo