How I Built This with Guy Raz – Unlocking the renewable energy revolution with Ramya Swaminathan of Malta Inc.

Intro

In this episode of “How I Built This with Guy Raz,” Ramya Swaminathan, the CEO of Malta Inc., discusses the company’s groundbreaking solution for storing renewable energy using salt. Malta’s technology aims to address the challenge of renewable energy intermittency and provide a reliable and scalable energy storage solution.

Main Takeaways

Unlocking Renewable Energy Revolution

• Malta Inc. is working on a potentially groundbreaking solution for storing renewable energy using salt.
• Renewable energy often goes to waste due to a mismatch between supply and demand.
• The ability to time shift renewable energy is crucial to unlocking the Renewables Revolution.
• Malta’s technology helps time shift power, making solar available at night.

Challenges in Renewable Energy Generation

• Most power in the US is generated by fossil fuels, but an increasing amount is coming from renewables.
• Free Flow Power, a company that aimed to harvest power from free-flowing parts of rivers, faced challenges in setting up turbines and maintaining them.
• There are 79,000 dams in the US, but only 3% of them generate power, leaving a huge untapped potential for hydroelectricity.
• Many dams should be taken down for environmental reasons, but the ones that remain offer a significant opportunity for power generation.

Malta’s Innovative Energy Storage Solution

• Malta is solving the problem of intermittency in the grid by replacing the inertia that was once provided by large spinning turbines.
• Malta’s system converts electric energy into thermal energy and stores it in salt for later use.
• The technical insight behind Malta’s technology was developed by Nobel Prize winner Robert Loughlin, who proposed using thermal energy storage in the form of molten salt.
• Malta’s system offers a different solution for a different segment of the market compared to lithium-ion batteries.

Integration with Existing Grid System

• The US grid system is not completely interconnected, which creates problems during the energy transition.
• Malta’s system can integrate with the existing legacy grid system and incorporate incumbent workers into the plant.
• Malta’s system uses salt to store energy, but they are avoiding the mistakes made by Crescent Dunes, which used concentrated solar technology.
• Malta’s system uses commodity materials like salt and antifreeze, making for a robust supply chain.

The Future of Malta’s Energy Storage

• Malta’s first fully operational plant is expected to be in service by 2027.
• Malta is building the world’s largest energy storage system, using compressed air to store energy.
• The cost of charging electricity is trending downwards, which is a major advantage for energy storage.
• There are competitors working on similar technology in emerging storage solutions, which is a great fact for the world at large.

Summary

Unlocking Renewable Energy Storage with Malta’s Salt Solution

Malta Inc. is revolutionizing the renewable energy industry by developing an innovative energy storage solution. With most power in the US still generated by fossil fuels, Malta’s technology aims to address the challenges of intermittency and mismatch between supply and demand in renewable energy generation. By converting electric energy into thermal energy and storing it in salt, Malta’s system offers a reliable and scalable solution for time-shifting renewable energy, making solar power available even at night. The integration with the existing grid system and the use of commodity materials like salt and antifreeze make Malta’s system a cost-effective and robust solution.

Building a Sustainable Future with Malta’s Energy Storage

As the world transitions towards cleaner and more sustainable energy sources, Malta’s energy storage technology plays a crucial role in ensuring the reliability and stability of the grid. By replacing the inertia provided by traditional spinning turbines, Malta’s system offers a different solution for a different segment of the market compared to lithium-ion batteries. With their first fully operational plant expected to be in service by 2027, Malta is leading the way in building the world’s largest energy storage system using compressed air. As the cost of charging electricity decreases and competitors work on similar emerging storage solutions, Malta’s innovative approach brings us closer to a renewable energy future.

Conclusion

Malta Inc.’s groundbreaking energy storage solution using salt has the potential to unlock the renewable energy revolution. By addressing the challenges of intermittency and storage in renewable energy generation, Malta’s technology offers a reliable and scalable solution. With their focus on integration with the existing grid system and the use of commodity materials, Malta is paving the way for a sustainable and efficient energy future. As the world transitions towards cleaner energy sources, Malta’s innovative approach brings us closer to a future powered by renewable energy.