Terrajoule has raised USD $11.5 million in a Series A round of funding for its distributed energy generation and energy storage solution.
Terrajoule’s solution is based on a mix of existing technologies. The generation side consists of either parabolic trough, heliostat/tower or linear Fresnel (CLFR) based solar collectors and the Universal Unaflow reciprocating steam piston engine.
Solar concentrators provide the heat to produce steam and steam engines convert the steam to electricity.
Energy storage is achieved via a “steam accumulator” built with insulated steel pressure vessels and filled with water.
“Since it is impractical to store gaseous steam for later use, the steam is condensed into the mass of water where its energy is stored,” states the Terrajoule web site. “When needed, the stored energy flashes the water back to steam. The energy lost in this steam-water-steam phase change cycle is less than 2%.”
The system can provide continuous and on-demand solar power generation in capacites from 100 kW to 20 MW
Terrajoule says effective storage can be achieved at less than 20% of the cost of batteries and each unit has a useful life of at least 25 years.
The 2015 price per Peak Watt will be in the range of $1.50 – $2.00 at a 20% capacity factor, comparable to the price of a solar panel system with the equivalent capacity factor in most scenarios. The price per kWh of net electrical storage capacity will be under $100/kWh.
“Terrajoule’s energy storage solution removes a fundamental obstacle to the next few decades of sustainable energy growth worldwide,” says Arno Penzias, Nobel Prize winner (Physics 1978) and Terrajoule advisor.
The company states each element of the technology has already been proven during decades of use in real-world conditions. It has developed a 100 kW 24/7 field prototype that will be operational in December this year.
