Matthew Griffin, described as “The Adviser behind the Advisers” and a “Young Kurzweil,” is the founder and CEO of the World Futures Forum and the 311 Institute, a global Futures and Deep Futures consultancy working between the dates of 2020 to 2070, and is an award winning futurist, and author of “Codex of the Future” series. Regularly featured in the global media, including AP, BBC, Bloomberg, CNBC, Discovery, RT, Viacom, and WIRED, Matthew’s ability to identify, track, and explain the impacts of hundreds of revolutionary emerging technologies on global culture, industry and society, is unparalleled. Recognised for the past six years as one of the world’s foremost futurists, innovation and strategy experts Matthew is an international speaker who helps governments, investors, multi-nationals and regulators around the world envision, build and lead an inclusive, sustainable future. A rare talent Matthew’s recent work includes mentoring Lunar XPrize teams, re-envisioning global education and training with the G20, and helping the world’s largest organisations envision and ideate the future of their products and services, industries, and countries. Matthew's clients include three Prime Ministers and several governments, including the G7, Accenture, Aon, Bain & Co, BCG, Credit Suisse, Dell EMC, Dentons, Deloitte, E&Y, GEMS, Huawei, JPMorgan Chase, KPMG, Lego, McKinsey, PWC, Qualcomm, SAP, Samsung, Sopra Steria, T-Mobile, and many more.
WHY THIS MATTERS IN BRIEF
Renewable energy technologies don’t generate electricity all the time – yet – so it has to be stored, and when it comes to grid scale storage cost is king.
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Today when the sun shines and the wind blows renewables can generate electricity, but when those fade they stop, so until we see products like solar panels that work at night, when it’s cloudy, raining, or snowing commercialise we’ll have to rely on massive amounts of grid scale storage to store the energy until it’s needed by the grid. And, as with any product cost is important which is why companies everywhere are trying to develop storage solutions that can store and release energy as cheaply as possible, which is why this latest innovation in the field is interesting.
A new type of battery made from electrically conductive polymers – basically plastic – could help make energy storage on the grid cheaper and more durable, enabling a greater use of renewable power, especially if that plastic can come from waste and recycled plastic, which is another story.
The Future of Energy 2050, by keynote speaker Matthew Griffin
The batteries, made by Boston-based startup PolyJoule, could offer a less expensive and longer-lasting alternative to Lithium-Ion (LiON) batteries for storing electricity from intermittent sources like wind and solar. The company is now revealing its first products. PolyJoule has built over 18,000 cells and installed a small pilot project using inexpensive, widely available materials.
The conductive polymers that PolyJoule uses in its battery electrodes replace the lithium and lead typically found in batteries. By using materials that can be easily created with widely available industrial chemicals, PolyJoule avoids the supply squeeze facing materials like lithium.
PolyJoule was started by MIT professors Tim Swager and Ian Hunter, who found that conductive polymers ticked some key boxes for energy storage. They can hold charge for a long time and charge up quickly. They are also efficient, meaning they store a large fraction of the electricity that flows into them. Being plastic, the materials are also relatively cheap to produce and sturdy, holding up to the swelling and contracting that happens in a battery as it charges and discharges.
Learn more about the technology
One major drawback is energy density. The battery packs are two to five times larger than a lithium-ion system of similar capacity, so the company decided that its technology would be better suited for stationary applications like grid storage than in electronics or cars, says PolyJoule CEO Eli Paster.
But unlike the LiON batteries used for that purpose now, PolyJoule’s systems don’t require any active temperature control systems to make sure they don’t overheat or catch fire, he adds. “We want to make a really robust, low-cost battery that just goes everywhere. You can slap it anywhere and you don’t have to worry about it,” Paster says.
Conductive polymers could wind up being a major player in grid storage, but whether that happens will likely depend on how quickly a company can scale up its technology and, crucially, how much the batteries cost, says Susan Babinec, who leads the energy storage program at Argonne National Lab.
Some research points to $20 per kilowatt-hour of storage as a long-term target that would help us reach 100% renewable energy adoption. It’s a milestone that other alternative grid-storage batteries are focused on. Form Energy, which produces Iron-Air batteries, says it can reach that goal in the coming decades.
PolyJoule may not be able to get costs that low, Paster acknowledges. It’s currently targeting $65 per kilowatt-hour of storage for its systems, reasoning that industrial customers and power utilities may be willing to pay that price because the products should last longer and be easier and cheaper to maintain.
So far, Paster says, the company has focused on building a technology that’s simple to manufacture. It employs a water-based manufacturing chemistry and uses commercially available machines to assemble its battery cells, so it doesn’t need the specialized conditions sometimes required in battery manufacturing.
It’s still unclear what battery chemistry will win out in grid storage. But PolyJoule’s plastics mean a new option has emerged.