That’s according to Imperial College London, which suggests Gravitricity’s technology, which uses a massive weight suspended in mine shafts to capture power and release it in seconds, is likely to outperform all alternatives.
It says the equipment’s high cyclability, able to run multiple times a day, as well as its very long lifespan, high power availability, 100% depth of discharge and lack of degradation, mean its high initial cost is offset.
Researcher Oliver Schmidt adds: “Gravitricty has high upfront capex but a 50-year design life. It is therefore sensitive to the discount rate and the modelled lifespan of 25 years.
“If we model a shorter response duration, a lower discount rate or a longer project life, then Gravitricity looks more competitive. I don’t expect Gravitricity to displace all lithium batteries on grids but it certainly looks like a compelling proposition.”