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1 Introduction Pumped Hydro Electricity Storage PHES is the most mature form of electricity storage, with individual system sizes rated at larger than 100 MW power output and over 95 GW of total power capacity installed globally, as of 2010 [5]. PHES stores electricity in the form of hydraulic potential energy. Pumping water from a lower lake into a lake at higher altitude in PHES is analogous to recharging a battery. Pumping typically occurs during off-peak periods, when electricity demand and pricing is low. Generation is analogous to discharging a battery and occurs during peak periods, when electricity demand and pricing is high. Pumping and generating will generally follow a daily cycle, reducing the levelised cost of electricity produced. In New Zealand there are no PHES dams, however the naturally filled hydro lakes act as a demand buffer on a yearly cycle, typically entering winter peak periods full, then slowly emptying over approximately 12 weeks [6]. In New Zealand typically 65% of total electricity production is from hydropower [7], reducing the need for new forms of energy storage. However many other countries have a stronger imperative to develop and build new forms of energy storage, as only 17% of the world’s electricity is produced by hydropower [8]. Compressed Air Energy Storage Compressed air energy storage (CAES) uses air as a storage medium, air is compressed into underground caverns by an electrically driven compressor and electricity is then produced when the stored compressed air is released, driving a turbine generator. Individual projects are capable of storing over 1 GWh of electricity, making it an attractive grid scale energy storage option. However, the efficiency of current plants is below 54%, lower than both PHES and batteries therefore limiting its use [9]. 2PDF Image | Electron Transfer Kinetics in Redox Flow Batteries
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