As we rush toward electrification as the primary solution for our energy future, we might be overlooking some fundamental limitations. According to the International Renewable Energy Agency (IRENA), we'll need at least 40 times more energy storage capacity by 2050 to support the move away from fossil fuels. These batteries need rare earth metals, which have to be sourced through an often expensive and heavy-emission process, complicating the situation further, and raising concerns about whether our electrified future is truly sustainable. This paradox has pushed innovators to look beyond traditional battery technology. Claudio Spadacini, CEO and founder of Energy Dome, highlights its CO2 Battery—an ingenious solution that is not dependent on rare earth elements. "Our technology is based on a thermomechanical process that compresses and liquefies CO2 when storage is required. When electricity is needed, the CO2 is re-evaporated and expanded to supply power back to the grid," Spadacini says. As it scales to gigawatt-hour capacity, he expects its costs to be "40 percent lower than those of lithium-ion systems."
Safety concerns further complicate the battery equation, as recent incidents of battery fires in electric vehicles and energy storage facilities have highlighted the technology's vulnerabilities. The market is projected to reach $435 billion by 2030 (Bloomberg NEF), and if batteries are to become an ubiquitous technology, the timing of innovations related to safety is crucial. To address such concerns, Michel Cousineau, CTO of EVLO Energy Storage Inc, emphasizes their approach: "We've integrated numerous safety features, adopting a holistic approach. One notable feature is that we meet and exceed the NFPA (National Fire Protection Association) 69 design standard, which involves active and passive venting systems to manage gas concentration in the event of a thermal incident."
"However, batteries alone cannot solve the issue of long-term energy storage," claims Gavin Towler, CTO of industrial giant Honeywell. As an alternative to batteries, a promising solution is hydrogen. By using electricity to split water into hydrogen and oxygen through electrolysis, excess renewable energy can be stored as hydrogen.
This stored hydrogen can thereafter be converted back to electricity through fuel cells or used directly as a clean fuel source. Bloom Energy is an example of those looking to make hydrogen a viable reality. "Our solid oxide electrolyzer operates at temperatures over 750 degrees Celsius, providing a significant efficiency advantage," says Ravi Prasher, CTO of Bloom Energy. Their high-temperature approach makes their electrolyzers "20-25 percent more energy- efficient" than conventional alternatives.
With Goldman Sachs projecting the hydrogen economy to reach $2.5 trillion by 2050, such improvements could accelerate hydrogen's dominance in the energy storage field. Markus Krebber, CEO of RWE, emphasizes the importance of integrated systems in this transition: "Hydrogen is in its early stages, but it holds great potential as part of the clean energy mix. One of our flagship projects in Germany is focused on producing green hydrogen through a 300-megawatt integrated system that includes storage capacity. Storage is critical because it allows us to balance hydrogen production with demand, ensuring that energy can be used effectively. This project is not just about hydrogen production, but about creating a complete system that integrates storage and infrastructure." This holistic approach aligns with the views of other industry leaders. As Doron Blachar, CEO of Ormat Technologies, points out, "The transition will require a combination of improved storage technologies and enhanced grid capabilities to support the increasing share of renewable energy in the overall energy mix." Ishan Palit, COO of TÜV SÜD, gave us some insights in this regard: "We are involved in certifying green hydrogen and green ammonia, and ensuring their traceability within supply chains. However, despite these efforts, the sheer demand for energy far outstrips the supply of clean energy. This challenge is further complicated by the high costs associated with producing clean energy, which necessitates substantial investment and innovation to bridge the gap."