The Australian Government has announced funding to build a $ 27 million (US $ 21 million) “solar hydro” power plant in northwestern Victoria.
The power plant demonstrates RayGen’s patented solar plus storage technology, which uses solar (PV) modules that are 4,000 times more powerful than standard solar panels. The module is mounted on a tower above an array of smart mirrors that concentrates sunlight on the module.
This causes the module to generate 1 MW of power and 2 MW of heat in the form of hot water. The heat taken in is stored in a large, insulated, water pit with a roof that can store thousands of MWh of energy. Part of this power will be used to power the cold water tank in the second storage pit. Each size is equivalent to four Olympic-sized pools.
The two pits maintain a temperature difference of 90 degrees, which represents potential energy, which is converted to electricity using the organic Rankine cycle turbine commonly used in geothermal applications. It is said to provide stable, renewable sync power on demand.
Darren Miller, CEO of the Australian Renewable Energy Agency (ARENA), said the success of RayGen’s new technology is Australia’s need for longer storage to overcome the limitations of current grid-scale renewable options. He said he would provide an opportunity to deal with the rise.
“Like combining pumped storage with traditional solar power, RayGen’s technology can provide a longer duration for renewable energy generation.” Miller said“We are particularly interested in the potential of RayGen’s technology to provide stable renewable energy at a very competitive cost.”
With the global transition from fossil fuel generation to renewable energy, RayGen’s technology hopes to provide a commercially attractive solution to the problem of long-term storage. ..
The current grid-scale reproducible options available commercially have limited characteristics. Pumped-storage power generation is limited by geographic constraints, but lithium-ion batteries can only be commercially run for short storage periods.
The project will include the construction of other solar and hydroelectric power plants in the future, and Australia’s largest power supplier, AGL, will build a similar energy facility at Liddellsite, New South Wales. I am proposing that. 2023.
RayGen believes that subsequent large-scale projects will meet the stretch target of providing a $ 100 / MWh guaranteed energy supply to the national electricity market. It was also noted that subsequent commercial-scale ventures of the technology may require additional grant support and / or concessional funding.
According to Australian energy regulators, Electricity is currently wholesaled at prices ranging from $ 27 / MWh to $ 53 / MWh, depending on the state.
Energy and Emissions Minister Angus Taylor said the government is focused on helping Australians develop technologies that provide reliable and affordable electricity while reducing emissions. ..
“A quarter of Australian homes have solar installed, so we ensure that our solar assets are backed up by dispatchable generation to enhance grid stability and long-term supply. Is essential. ” Taylor said“The government is supporting technology, not taxes, to reach emission reduction targets without compromising the affordability and security of energy.”
Anne Webster, Minister of Murray, Victoria, said the new development by Regen is a great step forward for the future of Murray’s renewable energy industry.
“The pilot plant being developed by RayGen is innovative and provides the grid with a stable and distributable form of photovoltaics, which is necessary for the reliability of renewable energy supplies,” Webster said. Says.