World’s largest compressed air energy storage project comes online in China
World’s largest compressed air energy storage project comes online in China
Zhongchu Guoneng Technology Co., Ltd. (ZCGN) has switched on the world's largest compressed air energy storage project in China. The $207.8 million energy storage power station has a capacity of 300 MW/1,800 MWh and uses an underground salt cave.
cross-posted from: https://lemmy.ml/post/15724955
World’s largest compressed air energy storage project comes online in China
The renewables movement will be won on finances and nothing else.
It is anticipated that the project will yield an internal rate of return on capital of about 16.38%, with a payback period of around 7.1 years.
That sounds really promising.
The specs certainly look impressive. Let's hope this thing works as designed. Definitely a promising approach.
Wouldn't this be horribly inefficient?
The tldr says 72% efficient. If it can store excess solar or wind from times they are not in use and release at times of higher demand, it should be great.
Better is always on the road to perfect.
This is the best summary I could come up with:
Chinese developer ZCGN has completed the construction of a 300 MW compressed air energy storage (CAES) facility in Feicheng, China's Shandong province.
Previously, the largest CAES facility was a 100 MW project switched on in October 2022 by the Institute of Engineering Thermophysics of the Chinese Academy of Sciences, also in China’s Hebei province.
It claimed that the facility was 30% cheaper than the 100 MW project built by the Institute of Engineering Thermophysics and said its overall efficiency is 72%.
The $207.8 million facility boasts an energy storage capacity of 300 MW/1,800 MWh and occupies an area of approximately 100,000 m2.
The facility has an estimated annual electricity generation of 600 TWh and is projected to save about 189,000 tons of standard coal consumption.
The project's investor has disclosed plans to offer various ancillary services to generate revenue through participation in China’s electricity trading market.
The original article contains 362 words, the summary contains 146 words. Saved 60%. I'm a bot and I'm open source!
Credit where credit is due, good job!