The Minnesota Public Utilities Fee (PUC) has accredited Kind Power’s 10 MW/1 GWh iron-air long-duration storage facility for Xcel Power.
From pv journal USA
The PUC accredited the development by Kind Power of a ten MW/1 GWh iron-air long-duration power storage facility for Xcel Power. It’s scheduled to be constructed on the location of the previous Sherburne County Producing Station, which is a coal-fired producing plant alongside the Mississippi River. The undertaking will substitute a facility that was beforehand able to delivering greater than 2.2 GW of coal-generated energy.
Xcel plans to start development in mid-2024, aiming to convey the location on-line by mid-2025. The undertaking proposal submitted to the PUC was largely redacted, hiding many particulars, together with particular value info, from the general public. That is ironic, given the “public” nature of the utilities fee.
The submitting reveals that the undertaking’s location on a brownfield/coal web site qualifies it for an extra 10% tax credit score adder underneath the US Inflation Discount Act. The submitting additionally signifies that the undertaking may even qualify for a ten% home content material tax credit score adder, as a result of Kind Power has expressed its dedication to make sure the qualification of their product. In a latest improvement, Kind Power introduced the development of a manufacturing facility in West Virginia.
Based on one other Minnesota PUC docket, a white paper from Kind Power (Docket No. ET-2/RP-22-75), which was ready as a part of the gradual improvement of the Cambridge Power station , supplies insights into value inputs for monetary modeling instruments (see desk beneath). Kind Power estimates the price of iron-air power storage {hardware}, underneath “All-in Capital Value,” to be between $1,700 and $2,400 per kW, with an working value of $19/kW per 12 months.
Though {hardware} prices are two to a few instances larger resulting from its distinctive nature (100-hour battery capability), Kind Power initiatives working prices to be lower than half of these for eight hour lithium-ion batteries.
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