The need for stationary energy storage is now growing rapidly. The growth of solar and wind power, smart grids, and microgrids are all driving this growth. Even today we must constantly match electricity demand to consumption — a task that is becoming increasingly difficult and costly as we move to more renewable energy and phase out fossil fuels.
As renewables become a larger share of the generation mix, the only solution going forward is cost effective energy storage. The global market demand for storage is estimated to be greater than $20B by 2020. However, the main challenge is that we still do not have a low-cost, safe, and highly durable means to store electricity that will enable ubiquitous storage.
WattJoule is addressing this huge market opportunity. We are developing a game-changing energy storage system that utilizes a liquid to store electrical energy — a liquid that is over 60% water, inexpensive to manufacture in large quantities, and is highly durable. And, since it’s based on water, it can never catch fire or explode like other approaches.