SaltX Hack #1: WINTER IS COMING
Hack energy storage for everyone, utilizing SaltX Technology and Vattenfall’s scale
In general, we use more energy during winter times in comparison to our energy consumption in the summer according to an annual energy consumption curve. This is due to obvious reasons such as; colder outside temperatures, darker days with less daylight, etc. The energy consumption is seasonal and creates uncertainties for both the energy producers and consumers. The volatilities in energy prices is seen as an issue, both for consumers and producers. The implementation of renewable energy sources adds an additional layer of negative volatility uncertainty since you cannot foresee the weather.
Specifically in Northern Europe we can see that the heating consumption is unbalanced between winter and summer. The demand of energy is exceptionally high during certain hours of the day (a.k.a peak hours) and low during other hours. In order to ensure that every household in Sweden has access to energy 24/7 several various solutions has been implemented such as e.g. inefficient diesel fueled machines in the heating network that are temporarily turned on during the peak hours to supplement the lacking energy supply. Imagine if we could contribute to decentralized solutions that could store energy and release it when most needed!
We want to find a solution where we use the energy in a smarter and more efficient way, where neither the consumers or energy producers are dependent on seasonality. Our aim with this challenge is to end the volatility of energy consumption and energy prices.This solution has of course the potential to be used in warmer climates where cooling consumption is unbalanced during the summer.
Now this is where you come into the picture and why we have gathered you to this first SaltX Hack challenge!
How can we use SaltX Technology to provide a decentralized solution, either in Vattenfall’s energy network at decentralized locations or at Vattenfall’s customers, that balances supply and demand in an efficient manner?
Potential synergies between Vattenfall, SaltX and your team
Vattenfall is one of Europe’s largest energy producers that can carry out major energy initiatives for consumers. Right now, Vattenfall is also powering up the focus on its solutions portfolio. In other words, if a sustainable and decentralized energy solution is presented, Vattenfall will have the capacity to make this happen on a large scale, available for everyone.
Vattenfall’s goal is to help Sweden become climate neutral by 2050, with a purpose to power climate smarter living. This challenge is directly in line with this goal.
This is where SaltX patents and technology come in. Their technology can charge and discharge salt, which means it can store thermal energy. This can be done thousands of times with no degradation over time. There are many advantages of using salt as storage material compared to other technologies, such as cost, energy density and environmental impact.
With the help of Vattenfall’s size and SaltX technology, the problems with the energy balance can potentially be overcome. But the application is missing. We believe that your team can provide a solution that will help both climate and wallet, while making the goal a reality as soon as possible. Worth noting is that full ownership of the idea will stay within the team. The winning team will also get the necessary support from both Vattenfall and SaltX to help the idea evolve into a reality.