FuelCell Energy Advancing High Efficiency Electrolysis and Flexible Energy Storage with U.S. Department of Energy Solid Oxide...
October 20 2016 - 8:30AM
FuelCell Energy, Inc. (Nasdaq:FCEL), a global leader in the
design, manufacture, operation and service of ultra‐clean,
efficient and reliable fuel cell power plants, announced a
market-driven energy storage solution that affordably and
efficiently converts power during periods of low demand into
hydrogen, an energy carrier, through high efficiency electrolysis
using solid oxide electrolysis cells (SOEC). The U.S. Department of
Energy (DOE) is supporting this development with a $3.0 million
cost-share contract to advance SOEC system design that will be
added to the Advanced Technology backlog for the fourth quarter of
2016.
The market for energy storage is significant for high efficiency
and flexible long duration storage that is affordable for rate
payers. The energy storage market is expanding as utilities adjust
to manage increased levels of intermittent renewable power
generation supplying the electric grid. Annual global energy
storage deployments are projected to increase to approximately 7 to
9 gigawatts by 2020 with continued increases thereafter. The SOEC
solution being supported with this DOE funding meets these needs
for both utility-scale applications as well as on-site
opportunities.
“This support from the Department of Energy helps us to advance
our innovative long-duration storage solution for large-scale
utility applications,” said Chip Bottone, Chief Executive Officer,
FuelCell Energy, Inc. “Energy storage economics are driven by the
round-trip efficiency and we feel we have a very compelling
solution for utilities desiring affordable storage that is flexible
and long duration with the added benefit of minimal land
needs.”
Efficient conversion of power to hydrogen is the first step of
the solid oxide energy storage system, using hydrogen as an energy
carrier. When power is needed, the hydrogen is cleanly and
efficiently converted back into power using the same solid oxide
system in fuel cell power generation mode. Suitable for
installation adjacent to existing electrical substations, this
easy-to-site solution enables long-duration energy storage with a
process that has a high round-trip efficiency from power-to-storage
and then back-to-power. FuelCell Energy’s natural gas or biogas
fueled SOFC technology generates industry-leading electrical
efficiency of approximately 60 percent. When used in energy storage
systems the power generation efficiency will be significantly
higher since the cells will be producing power from pure hydrogen
instead of methane. Combined with high efficiency electrolysis,
this solid oxide based energy storage system is expected to be
capable of round trip energy efficiency above 70 percent.
“We are actively speaking with utilities about this energy
storage solution highlighting efficiency, economics and modest land
use needs,” continued Mr. Bottone.
The DOE contract continues the development of the solid oxide
fuel cell (SOFC) technology for hydrogen production using
electrolysis through a solid oxide electrolyzer cell (SOEC).
Hydrogen produced from SOEC can be stored and used for grid-power,
hydrogen fueling stations or for industrial purposes as an
alternative to natural gas reforming. SOEC can also be
applied as a clean and highly efficient solution for storing excess
power produced by intermittent technologies when their output
exceeds the needs of the electric grid.
“Hydrogen is a very attractive energy storage medium as it can
be compressed and stored for long periods of time at minimal cost,”
said Tony Leo, Vice President Applications and Advanced Technology
Development. “Additional storage capacity can be easily and
inexpensively added at one of our installations by just adding more
hydrogen storage capacity, without increasing the size of the fuel
cell power plant, which makes the technology an attractive solution
of the growing number of storage applications that will require
long duration and flexible energy storage.”
About FuelCell EnergyDirect FuelCell® power
plants are generating ultra-clean, efficient and reliable power on
three continents, affordably providing continuous distributed power
generation to a variety of industries including utilities,
commercial and municipal customers. The Company’s power
plants have generated billions of kilowatt hours of ultra-clean
power using a wide variety of fuels including renewable biogas from
wastewater treatment and food processing, as well as clean natural
gas. For additional information, please visit
www.fuelcellenergy.com and follow us on Twitter.
Direct FuelCell, DFC, DFC/T, DFC-H2, DFC-ERG and FuelCell Energy
logo are all registered trademarks of FuelCell Energy, Inc.
Contact:
FuelCell Energy, Inc.
Kurt Goddard, Vice President Investor Relations
203-830-7494
ir@fce.com
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