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To Hit Climate Goals, Bill Gates and His Billionaire Friends Are Betting on Energy Storage (qz.com)
Akshat Rathi, writing for Quartz: The world needs radical new energy technologies to fight climate change. In 2016, Quartz reported that a group of billionaires -- including Bill Gates, Jeff Bezos, Jack Ma, Mukesh Ambani, and Richard Branson -- launched Breakthrough Energy Ventures (BEV) to invest at least $1 billion in creating those technologies. Now, 18 months later, Quartz can reveal the first two startups that BEV will be investing in: Form Energy and Quidnet Energy. Both companies are developing new technologies to store energy, but taking completely different approaches to achieve that goal.
The way to reach the world's climate goals is straightforward: reduce our greenhouse-gas emissions to zero within the next few decades. But the energy technologies that can help us get there tend to need lots of money and long lead times to develop. That's why many conventional investors, who are looking for quicker returns, have burned their fingers investing in clean tech. The wealthy investors of BEV want to remedy that. Their $1 billion fund is "patient capital," to be invested in only companies working on technologies capable of cutting global carbon emissions by at least 500 million metric tons annually, even if they may not provide returns on investment for up to 20 years.
The way to reach the world's climate goals is straightforward: reduce our greenhouse-gas emissions to zero within the next few decades. But the energy technologies that can help us get there tend to need lots of money and long lead times to develop. That's why many conventional investors, who are looking for quicker returns, have burned their fingers investing in clean tech. The wealthy investors of BEV want to remedy that. Their $1 billion fund is "patient capital," to be invested in only companies working on technologies capable of cutting global carbon emissions by at least 500 million metric tons annually, even if they may not provide returns on investment for up to 20 years.
Energy storage technologies are about increasing efficiencies of power generation. So power companies are paying less in fuel for power that is just wasted.
If something is so important that you feel the need to post it on the internet... It probably isn't that important.
... are responsible for bad ideas like shitting in your mess kit.
Shareholders, CEOs, and investors are, more often, manic about asymptotic profits over nanosecond time frames.
Economies built around such shortsightedness are like train wrecks: It doesn't end well.
It little behooves the best of us to comment on the rest of us.
Energy storage technologies are about increasing efficiencies of power generation.
Partly but the other big reason is that the two major forms of renewable energy - solar and wind - both rely on intermittent power sources which are not always available. If you can store this energy for use at night or on a calm day then there is no need to burn any fuel at all.
However, I am a little concerned about the "pressure water" storage system which replaced reservoirs with high pressure underground storage. This might work but it seems that you are replacing the limitations of reservoirs with the complications of fracking which has been shown to cause severe, localized earthquakes. Batteries seem a far safer way to go if you need to overcome the limitations of pumped storage schemes.
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