Unlocking the renewable energy revolution with Ramya Swaminathan of Malta Inc.
Oct 12, 2023
35:01
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Ramya Swaminathan, CEO of Malta Inc, discusses the use of molten salt as a low-cost, long-duration energy storage solution. She explains the advantages of salt-based systems over lithium ion batteries, emphasizing their cost-effectiveness and extended duration. The podcast also explores the challenges faced by companies using salt for energy storage and Malta Inc's plans to deploy the technology at a commercial scale by 2027.
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Quick takeaways
Malta Inc utilizes salt as a low-cost, long-duration energy storage solution for renewable energy.
Malta's system of thermal energy storage using salt and coolant offers scalability and potentially lower costs compared to lithium-ion batteries.
Deep dives
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Harnessing the Power of Salt for Energy Storage
Malta, a company working on renewable energy, is utilizing salt to store heat from energy sources. By converting electricity into thermal energy and storing it in molten salt, Malta offers a low-cost, long-duration grid-scale storage solution. This technology addresses the challenge of time-shifting renewable energy to meet demand fluctuations, as well as replaces the inertia provided by traditional fossil-based assets for grid reliability. With its simple and scalable design, Malta's system offers a potential breakthrough for affordable energy storage and supports the transition to renewable energy.
Exploring a Viable Alternative to Lithium-ion Batteries
Malta's innovative approach to energy storage stands out from conventional lithium-ion batteries. While lithium-ion batteries require adding more batteries to extend their duration, Malta's system allows for the addition of more salt and coolant to increase duration without changing the power portion. This scalability, coupled with the use of commodity materials like salt, contributes to potentially lower costs compared to lithium-ion batteries. While both technologies aim to provide energy storage, Malta's solution offers a different approach and addresses a different segment of the market.
Applications and Future Developments
Malta's energy storage system is suitable for large-scale applications, such as microgrids for towns or small cities, rather than individual homes or vehicles. It integrates effectively into existing legacy grid systems as a one-for-one replacement for traditional thermal assets like gas or coal plants. By incorporating existing components and subsystems commonly used in power plants, Malta's system ensures reliability, affordability, and resiliency. The first commercial-scale plants are expected to begin construction by the end of next year, with initiatives in Florida and Iberia (Spain and Portugal) leading the way.
Ramya Swaminathan is the CEO of Malta Inc, a company that spun out of Google’s moonshot factory in 2018 to work on an energy storage solution using the existing power grid. One thing holding the world back from a transition to clean energy: electricity generated from sources like the sun and wind has to be used right away or it disappears…but one possible answer might be—salt.
This week on How I Built This Lab, Ramya recounts how she got into the renewable energy industry with two previous companies focused on hydropower. She also explains how molten salt and coolant might be better than batteries as a low-cost, long-duration and job-preserving energy storage solution.
This episode was produced by J.C. Howard with music by Ramtin Arablouei.
It was edited by John Isabella with research help from Alex Cheng. Our audio engineer was Maggie Luthar.
This episode is brought to you in part by Canva, the easy-to-use online design platform for presentations, social posts, videos, websites, and more. Start designing today at Canva – the home for every brand.