Our ES-Wave is technically a point absorber wave energy converter when acting as a generator and works similarly to a Pumped Hydro when acting as an energy storage device. Technically speaking we can highlight the following value propositions:
The ES-Wave is made of Tried and Tested Components. Even though this is a new concept, most components and subsystems are well known and already in use.
It has the possibility of working 24/7 due to its double functionality.
Cost Effective: The ES-Wave structure has been designed to be towed (not carried), thereby reducing installation costs.
Portable and Safe: The ES-Wave’s quick coupling device allows the generator to be towed to several previously prepared locations, allowing portability. This is achieved by using a quick joint with the legs. In case of an extreme storm forecast, this quick join allows the generator to be disengaged and towed to a safe haven. In the case of most storms and during maintenance tasks, simply jacking up the structure is sufficient and this is something the device can do on its own.
Reliable: The wider space of our ES-Wave structure allows redundancies in some key elements, such as the generators and some key valves, which maximises production and minimises the time of breakdowns compared to other technologies such as wind turbines.
Energy Generation capabilities
The ES-Wave harnesses power from waves that apart from being produced by the action of wind locally can travel hundreds of miles from where they are produced. Therefore, compared to wind energy, the source is available for longer.
The ES-Wave also works based on the Harmonic Energy of the Mass. This concept allows the device to harness unprecedented levels of energy. In addition, the reliability of the device is increased and the size and weight of the device is massively optimised for uptime and performance.
A Pumped hydro uses the potential energy of a large mass of water between two different levels pumping uphill into a reservoir when charging; releasing water flows back down and driving hydroelectric turbines when discharging.
The ES-Wave uses a similar conception but it is not only water but the whole device what is lifted from buoyancy to a higher or its highest position during the charging period. The discharge happens progressively until the device goes back to buoyancy.
The value proposition follows two overarching market needs that can be satisfied with energy storage: Ancillary Services and Load Shifting.
Installations for ancillary services deliver value by providing measures for either the stable operation of the grid, such as frequency or voltage control, or the availability of electricity at all times, such as black start or backup energy.
Load shifting installations, on the other hand, are valuable through the addition of supply or demand at certain times, for instance, to meet production forecasts or to shave consumption peaks.
For revenues attainable for energy storage we identify three separate streams. With what we refer to as ‘price arbitrage’, an investor would utilize price differences across markets at one time or across time within one market. Examples include the trading at high and low prices or the increase in self-sufficiency. ‘Cost avoidance’ earns savings of otherwise occurring operating costs or penalties for, say, the meeting of forecasts. ‘Investment deferral’ describes savings to alternative, more expensive investments in generation or grid capacity.
For Ancillary Services the ES-Wave thanks to its quick response, long-lasting discharge duration and power capacity can potentially be used in the following markets:
Primary, Secondary and Tertiary frequency control (to be proven)
Black start energy
For Load Shifting, there are a few considerations:
Conveniently managed a farm of ES-Wave devices can provide a load for peak of production absorbing energy when energy is not otherwise required (at a very low cost), releasing the energy absorbed when the demand can no otherwise be met (at a very high cost)
Generation capacity reserves
T&D (Transport and Distribution)
T&D peak shaving
Consumption peak shaving