US energy storage firm reckons it is ready to fly

An innovative 20MW energy storage project that aims to make it easier to integrate renewable energy into the grid looks set to be completed after US-based Beacon Power this week announced that it has secured a $43m loan guaranteed by the Department of Energy (DOE).

The company said the loan completes the financing for its flywheel energy storage plant, which is currently under construction in Stephentown, New York.

Flywheel energy storage devices typically use stored kinetic energy to provide back up power at facilities such as hospitals and data centres that require a reliable energy supply.

However, Beacon Power has developed an advanced flywheel system that not only stores energy but also provides frequency regulation, absorbing electricity from the grid when there is excess supply and then injecting it back into the grid in response to peaks in demand.

Demand for frequency regulation systems is expected to soar globally as intermittent energy sources such as wind and solar farms provide greater levels of energy to the grid. Grid operators around the world are looking for cost effective means of storing renewable energy that will allow them to draw on stored power at times when weather conditions mean that output from renewable sources fall.

Beacon Power reckons its flywheels will offer a cleaner and more reliable alternative to the conventional fossil fuel powered plants that are currently used by grid operators to manage grid frequency and cover peaks in demand.

Bill Capp, president and chief executive at the company, said the new Stephentown facility would serve to demonstrate the viability of the technology.

"We believe that there is no better way to provide efficient, grid-scale frequency regulation than our flywheel systems," he said in statement. "We're grateful to DOE, through the Loan Programs Office, for its continued strong support and validation of this breakthrough technology."

The completion of the loan and loan guarantees, which were first announced a year ago, represents a major breakthrough for the company and will fuel optimism that it can now move forward with plans for two more flywheel plants in New York.

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