Tuesday, September 6th, 2016
Stephan: The big obstacle non-carbon energy must overcome is how to store solar and wind energy. Here is a very novel option that I think is going to be a serious contender, unless there is a major breakthrough in batteries.
Although I think the long term trend is towards localized energy, it is not going to be an easy transition, and it will require going through intermediate steps such as this technology. These new industries are where the new middle class will come from if it is allowed to develop.
It is important to note that this is not fracking, and there being very leakage is a critical parameter. This is pumping water into subterranean reservoirs left from oil extraction. It would be an interesting recycling, and would allow many people trained in the skills involved with oil wells to keep their jobs
A new startup is proposing turning abandoned oil and gas wells in the US into vaults to store electricity.
Credit: Jurgen Vogt / Alamy/Alamy
In a field in Central Texas, Aaron Mandell and his crew are running pumping equipment to bring a former oil and gas well back to life. But they’re not trying to extract black gold. Instead, they are developing a way to turn abandoned oil and gas wells into vaults for storing electricity.
The concept behind Mandell’s startup, Quidnet Energy, sounds simple: pumping water deep into the earth to fill up the cracks in-between rocks that previously held fossil fuels. When the pressurized water is released, it acts like a spring as it races through a turbine-generator above ground, powering it to produce electricity.
Mandell, co-founder and chairman of Quidnet, is part of a growing number of entrepreneurs in an emerging market to use […]