China has officially put Smart Grid into state's 12th Five-Year Plan shortly after Barack Obama proposed to establish the Smart Grid.
Realizing the storage of electricity has always been the most challenging issue and hence a storage system with high density, long life span, quick response, reasonable cost and no pollution is mostly needed.
Molten salt storage system is one of the most effective solutions for renewables intermittence problems. With the technology of molten salt thermal energy storage, we can manufacture low-cost, high-density and distributed thermal energy storage device of larger capacity, capture an abundance of renewable energy and connect the power to the grid, thus guaranteeing the smooth operation of the grid. Molten salt storage system are applied to:
① Balance of wind and solar power: improving operational effectiveness of wind and PV power by storing the wind and PV power during off-peak hours and generating during peak hours.
② Storage of off-peak hour energy and excessive power in the grid: the shortage of electricity during day and waste of electricity at night cause power plant a great economic loss! Now with the molten salt storage system the excessive electricity can be stored at off-peak hours and delivered at peak hours, which effectively enhances the grid stability, benefits the power plants and reduces the expense of companies.
③ Reducing the expense of electrical equipment for capacity increase: to tackle the conflicts between power supply and demand, power plants shall increase power block capacity, load and transmission and distribution installation capacity. Masses of capital cost are demanded to tackle the issues while molten salt storage system can reduce the cost of capacity increase.