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Through the use of a pump, crane, or motor, gravity batteries raise a mass to a specific height in order to store gravitational potential energy. Based on the mass of the object and the height at which it was raised, the mass now stores a specific gravitational potential energy. The gravitational potential energy is converted into electricity at this point.
A generator starts to spin and produce electricity as the mass is lowered to return to its original height. Compared to chemical batteries, which need extensive heat control to lengthen their otherwise limited cycle life, this yields a round trip efficiency of more than 80% with little auxiliary usage.
The Global Gravity Energy Storage Systems Market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.
In India, Gravitricity launched a gravity energy storage test. The Ayrton Fund, which is a component of the UK’s International Climate Finance pledge, aims to provide developing nations with access to the newest cutting-edge technology to assist them reduce their emissions and fulfil the goals set forth for combating global climate change.
Using heavy weights (up to 12,000 tonnes) raised in a deep shaft and then released when energy is needed, Gravitricity has created a gravity-based energy storage system. India, which wants to develop more than 500 GW of renewable energy, may find the gravity storage technique to be excellent.
Energy storage will be required due to the rapidly rising amount of variable renewable energy sources, much of it solar.In addition to storing energy at a price that is half that of lithium-ion batteries, Gravitricity says that its system can run for up to 50 years.
The 12-month study, which seeks to locate and shortlist sites for a demonstration system, is being carried out in India in collaboration with Panitek Power. A comparatively basic approach is gravity storage. Because it is not dependent on any rare earth metals and has a very long lifespan, it can be produced and used locally.
