A garage-tinkerer may have found a clean grid-storage medium: Liquid Nitrogen mixed with waste heat. http://www.cnn.com/2012/12/07/tech/dearman-liquid-air-storage/index.html?iid=article_sidebar
"Using waste heat also raises efficiency levels up to 70% -- not as high as the 80% battery storage can achieve, but competitive. It also has one crucial advantage, Dearman says.
"Batteries aren't really scalable, you can't use them worldwide because there's not enough materials to make batteries from. So you need a system that doesn't use scarce resources," he said.
The UK's Institution of Mechanical Engineers (IMechE) recently launched a working group investigating the potential of liquid air storage."
The company: Highview Power Storage, formed by Peter Dearman and the U.K. government. Dearman is also working on harnessing liquid nitrogen for vehicles: see http://www.dearmanengine.com/cms/the-technology/.
With battery materials raising resource access issues -- that's one reason there's a Rare Earth Caucus in the U.S. Congress (formed by Mike Coffman, Nov. 2011) -- the idea of harnessing nitrogen is interesting. On the rare-earth/battery issue, see this from the Rare Earth Caucus' founder,
"China supplies about 95 percent of the world’s rare earth metals, used in everything from wind turbines, electric car batteries, and smart phones to advanced weapons systems. Chinese officials have repeatedly restricted rare earth exports in an attempt to drive up prices, including most recently shutting down production at their largest rare-earth mine for one month."
Dearman's approach falls under the broader area known as CES: Cryogenic Energy Storage.
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