Rising Demand for Solar Paired With Energy Storage Systems Creates Pent Up Demand for Cost Effective Energy Storage Solutions
SANTA CLARITA, CA--(Marketwired - Jan 27, 2015) - BioSolar, Inc. (OTCQB: BSRC), developer of breakthrough energy storage technology and materials, today commented that the company's polymer-based supercapacitor technology currently under development could help reduce the cost of solar energy storage.
Since solar energy is only available during the day and naturally sporadic because of weather and clouds, a large capacity and fast charge-discharge energy storage system is needed to quickly store the energy of the sun so that it can be used anytime -- day or night. Therefore, solar energy storage systems need battery banks with high specific energy (Wh/Kg) to store as much energy as possible without increased size. At the same time, the system needs to provide high specific power (mAh/g) for fast charge to harvest as much energy as possible when the sunlight is available. Most importantly, the system should be able to handle large number of charge-discharge cycles possible before requiring battery replacement.
Dr. David Lee, the company's CEO, said, "Existing battery technologies, such as lithium-ion batteries, are good for longer-term energy storage, but cannot be charged or discharged rapidly. Furthermore, batteries have limited charge-discharge life cycles resulting in premature capacity degradation over relatively short time span. By integrating our BioSuperCap, a low cost polymer-based supercapacitor, as the front-end to battery banks, fewer batteries can be used, and daytime solar energy can be quickly and cost-effectively stored for nighttime use at a substantially lower cost. The combined system also will be able to handle much larger number of charge-discharge cycles resulting in substantially longer battery life."
The company previously announced record performance for its low cost energy storage supercapacitor. BioSuperCap, a next generation supercapacitor based on inexpensive conducting polymers that can reduce the cost of storing the energy of the sun, has demonstrated stability for 50,000 charge-discharge cycles, which is more than 10 times better than reported for polymer-hybrid supercapacitors.
About BioSolar, Inc.
BioSolar, producer of innovative bio-based solar energy products, is currently developing a breakthrough energy storage technology for reducing the cost of storing the energy of the sun. Existing battery technologies, such as lithium-ion batteries, are good for longer-term energy storage, but cannot be charged or discharged rapidly. This characteristic limits the use of batteries for power backup applications. Inspired by nature, BioSolar is developing a low cost polymer based supercapacitor that can be charged and discharged hundreds of times faster than batteries, and will complement batteries for the storage of solar energy. By integrating BioSolar supercapacitors as the high power frontend to battery banks, with fewer battery banks than would ordinarily be required, daytime solar energy can be quickly and cost-effectively stored for nighttime use at a substantially lower cost. This potentially game-changing technology will allow users of solar energy systems to reduce their dependence or go completely off the electric utility power grid. To learn more about BioSolar, please visit our website at http://www.biosolar.com.