ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

CPS Energy to explore novel pumped hydro technology

The technology is based on conventional drilling technology used in the oil and gas industry as well as off-the-shelf hydropower equipment.

San Antonio-based CPS Energy signed a 15-year commercial agreement with Quidnet Energy for a 1 MW, 10-hour energy storage facility using geomechanical pumped storage technology. Following initial deployment, the municipal utility has the option to expand the project to 15 MW.

The technology is based on conventional drilling technology used in the oil and gas industry as well as off-the-shelf hydropower equipment. When low-cost electricity is available, water in a storage reservoir is pumped down a well and into a body of rock. The energy-storing rock bodies are non-hydrocarbon bearing and found in many locations, including near electricity transmission and distribution hubs. When electricity is needed, the well is opened to let the pressurized water pass through a turbine to generate electricity, and return to the pond for the next cycle.

This article was originally published on sister website Power Engineering.

The approach makes use of approaches and supply chains used in the oil and gas industry, Houston-based Quidnet said, and provides a possible “pathway into the green economy” for oil patch workers.

Quidnet has developed energy storage test sites in Medina and San Saba counties in Texas. It said it is working on pilot projects in Ohio, New York, and Alberta, Canada. The company is backed by Breakthrough Energy Ventures, Evok Innovations, Trafigura, and other investors and has received support from the U.S. Department of Energy, New York State Energy Research and Development Authority, and Emissions Reduction Alberta.

The company said that each 10 MWh system would cycle water equivalent to about five Olympic swimming pools, or around 3.3 million gallons.

CPS Energy adopted its Flexible Path Resource Plan to close coal plants and adopt technologies like energy storage and electric vehicles, expand renewable resources, and add more programs and services such as energy efficiency and demand response. By 2040, the utility plans to increase renewables by 127% while decreasing gas- and coal-fired generation by 72% and 61%, respectively.

EPIcenter’s Innovation Management program was engaged to support CPS Energy’s decision-making process for this novel form of energy storage. The program facilitates the process alongside a team of CPS Energy leadership to vet and implement emerging technologies. The nonprofit organization, established in 2015, is intended to speed innovation to make the production and consumption of energy smarter, cleaner, more resilient and more efficient. 


EPICenter is taking part in the DISTRIBUTECH / POWERGEN 2022 event with the session Energy Innovation: Move the Needle for Real on May 25.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.