This report provides a commercial overview of RayGen’s thermal hydro system, covering elements such as system operations, opportunities for storage and financial analysis of the system.
The electricity grid of the future will have sufficient storage to shift energy from when it is produced to when it is required, and much of this storage will be over 6-8 hours. An energy grid reliant on solar and wind energy requires long-duration storage that can store energy for hours, days or weeks and be deployed cost-effectively at large scale around the world.
“Grid-scale electricity storage will be a critical element of Australia’s future electricity system. Broad deployment of storage will facilitate more low-cost solar and wind electricity in the grid. Storage will also provide system security services and be a source of reliable, dispatchable electricity. It can reduce pressure on electricity prices by meeting peaks in consumer demand.”
– Low Emissions Technology Statement, Australian Government
RayGen has developed a world-first approach that will deliver zero-carbon mid-merit and baseload generation at lowest cost. RayGen originated, designs, and develops our proprietary, patented solution, and is supported by investors that include AGL, Photon Energy, Schlumberger and Chevron. Additional due diligence has been conducted by MIT, ARENA, Aurecon and GHD.