Energy and storage are on the rise, and the technology is getting more accessible and affordable, said Chris Waddell, president of Kinetic Energy, a company that is building systems that will store energy for the long term.
We’re working on a system that will give us the ability to go from one place to another in less than one minute, and in the meantime, the storage can be used in a myriad of applications from powering airplanes to powering the grid.
“In a lot of ways, this is a game changer for the industry,” Waddill said.
The new system, called the Energy Storage System, will be able to store a minimum of 20 kilowatt hours of power in an average residential system, and as much as 400 kilowatts in a more sophisticated system.
Kinetic says the system is designed to take advantage of existing battery storage technology to store power during times of peak demand.
While the system does not yet have the capacity to deliver power to remote locations, the company plans to eventually.
“The whole thing is designed so that we can have this huge amount of storage capacity,” Wintell said.
Kinetics is currently working on an energy-storage system for commercial customers.
Waddel said Kinetics expects to sell the system in the third quarter of 2020, and that the company is also working with electric car manufacturer Tesla to develop a similar system.
Energy storage has become a hot topic recently, with a growing number of startups working on the technology, including energy storage company Electra Storage, which was recently acquired by GE.
The company has also developed a battery that can be integrated into electric vehicles to help them run on less expensive batteries.
A recent study by the nonprofit energy storage advocacy group, Ceres, estimated that there were nearly 20,000 commercial energy storage companies in the United States, and an additional 30,000 small companies that have installed battery storage systems.
Wintill said he believes the market for energy storage is poised to grow over the next several years, as demand for energy rises and the cost of electricity declines.
“Right now, energy storage makes sense for consumers when it’s going to help save money, because there’s not a lot you can do with electricity,” Widdell said, adding that many businesses already have systems in place to store and deliver power.
The key for Kinetic is that its system will have enough capacity to supply all of the energy the home or business needs for at least 10 years, Waddll said.
It’s also an ideal fit for homes with low ceilings, as energy storage systems are able to deliver more power to the system, rather than having it run at the lower level.
In fact, Kinetic’s system will use up less energy than an average home’s energy consumption during peak times, Wintel said.
“It’s very cost effective,” he said.
And while the Kinetic system does offer more storage capacity than many home energy storage devices, it is still far less expensive than other types of energy storage.
Wintel Energy, another energy storage startup, also plans to begin selling its energy storage system this summer, but the company said it will focus on smaller homes.
In addition to its current system, Wintel said it is also looking at systems that can power homes with solar panels or electric cars.
“What we’re trying to do is, we’re really looking to build a system where we can get the cost down so that you can actually go from a home to a solar system,” Wintel’s president, Josh Bickley, said.