Boston-based company Inexhaustible has introduced a method of over-the-water energy transport for offshore generation projects.
The method eliminates the high cost and high risk subsea transmission cable while greatly improving the value of the electricity generated, according to the company. It uses marine vessels or articulated tug-barges laden with utility scale energy storage systems, such as Battery Energy Storage Systems (BESS), to ferry the energy generated at distant offshore locations and deliver it where and when the onshore electricity demand and prices are the highest.
From a value perspective, there are two major asset categories employed in delivering electrical energy for distribution to homes and businesses: Generation Assets and Transmission Assets, Inexhaustible said. As a Generation Asset, the Inexhaustible solution packages the energy for on-demand supply where and when it is most needed, greatly improving revenue over conventional offshore projects which supply at much lower, round-the-clock average prices. As a Transmission Asset, the solution alleviates grid congestion during peak demand periods in the densely populated coastal regions.
“Inexhaustible has created an omnibus solution for our energy goals,” said business development manager, Marcus de Figueiredo. “Most people live near a coastline. That’s where the energy is needed, that’s where the current infrastructure is most constrained, and that is where the enormous, inexhaustible potential of wind energy is most accessible. To make this finally come together, we need solutions that improve value, reduce costs and protect our seacoasts without heavy reliance on fickle nonmarket incentives.”