Energy Vault said in a press release that its new technology combines physics fundamentals of potential and kinetic energy with a cloud-based software platform to operate a newly developed six-arm crane. The crane operation is automated and moves massive concrete bricks that provide the basis for the storage and discharge of electricity.
The latest company born out of General Electric Co. expects sales of its industrial engines fired by natural gas to benefit from the spread of renewables such as solar and wind.
Obviously, the UK is a much smaller and more homogenous market than the United States, where energy policy is shaped to a large degree by state-level policy and market conditions. However, the UK does provide a significant model for accelerated change driven by a cohesive energy policy focused on rapid decarbonization in response to climate change. In addition to performance-based regulation, electrification of transportation is another top issue in the UK.
The share of renewables in the UK’s electricity generation hit a record high of 31.7 per cent in the second quarter of 2018, while coal dropped to an all-time low of only 1.6 per cent.
