How Can Compressed Air Energy Storage Aid in Meeting Energy Demands?

The demand for energy storage devices has been rising rapidly since the past few years, which can be ascribed to the increasing adoption of renewable energy sources. As the awareness regarding negative impacts of using fossil fuels for generating energy is rising among people, they are widely opting for eco-friendly solutions. Carbon emissions can be curbed by using clean energy, which is why governments of several countries are now widely focusing upon solar, wind, and thermal energy.

Energy generated from such sources however, need to be stored for meeting the demands. Energy storage systems are therefore of great importance when it comes to utilizing renewable energy. It is because of these factors that the global compressed air energy storage (CAES) market is expected to advance at a substantial pace in the years to come. Like other energy storage systems, the purpose of CAES systems is to aid in managing the supply of electricity in the grid.

There’s no telling if the power will be in demand at the same time it is being generated. Owing to this, it is important to use energy storage systems for storing extra power, which can be used to meet the demand during peak times. CAES is the second biggest form of energy storage, and is being preceded by pumped energy storage systems at the present time. Under the CAES system, electrical energy is converted into high-pressure compressed air, which is released later for driving a turbine generator for producing electricity.

Diabatic, adiabatic, and isothermal are the three types of compressed air energy storage system types. Out of these, the demand for diabatic systems has been considerably high in the past because of their relatively simpler design and lower operating cost as compared to other types. In addition to this, the other types are still in the developmental phase, which is why the adoption of diabatic CAES systems has been higher up till now.

The compressed air energy storage market is also predicted to register growth in the coming years because the demand for efficient energy storage systems has been increasing rapidly. Conventionally diabatic energy storage systems were being used, however, their efficiency is quite low as compared to other storage systems, such as adiabatic CAES. While adiabatic energy storage systems are more efficient, about 20% more, than their counterparts, they are still in the developmental phase.

In addition to this, diabatic storage systems needs gas-firing for operation, which leads to environmental pollution. Geographically, a major share of the domain is being accounted for by North America due to the rising requirement for electricity storage systems. For example, the U.S. produced 4 billion megawatt-hours (MWh) of electricity, but had only 431 MWh of energy storage available in 2017, according to the environmental and energy study institute.

In conclusion, the demand for CAES is growing due to the rising adoption of renewable energy and the increasing need for energy efficient storage syst ...

News Release: How Can Compressed Air Energy Storage Aid in Meeting Energy Demands?
Submitted on: September 11, 2020 08:18:29 AM
Submitted by: Manish Baghel
On behalf of: https://www.psmarketresearch.com/market-analysis/compressed-air-energy-storage-market