Supporting the deployment of Long Duration Energy Storage, the LDES Council can contribute to achieve net-zero emissions by 2040 and limit the rise in global temperatures to 1,5° Celsius, promoting global decarbonitazion and driving innovation in the power and industrial sector.
Energy storage technologies represented by the LDES Council – a CEO-led organization set up by McKinsey - includes mechanical, electrochemical, chemical and thermal storage technologies, all crucial for a real transition to 100% renewables.
As Technology Providers of LDES Council, Magaldi Green Energy – Italian startup of Magaldi Power – innovates on thermal technologies, energy stored through heating for later release of electricity and green heat.
Among LDES solutions for power and industrial sector, the most groundbreaking is MGTES, a thermal energy storage technology based on a fluidized bed of solid particles of sand, capable of absorbing both heat and electricity at the input and release it on demand.
“In a future world supported more than 50% by renewable energies – says Letizia Magaldi, Executive Vice President of Magaldi Green Energy - the energy system would count on wind, photovoltaic, csp and different energy storage systems - complementary and not in competition with each other - such as hydroelectric, electrochemical and thermal storage solutions. The latter are particularly low cost and innovative: thermal energy batteries can accumulate energy up to over 150 hours to build a more robust decarbonization path and produce green heat to help industry decarbonization”.
According to LDES Council Report - authoritative analysis of long duration energy storage based on data and research provided by council members – over 260 LDES projects have been announced worldwide at different commercial stages and thermal LDES accounts for the largest share of the total announced capacity (60 percent), attributable primarily to a number of molten salt storage facilities for concentrated solar power (CSP) in the megawatt (MW) scale.
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