This morning, six promising early stage commercial buildings technology companies were announced as the second cohort of the Wells Fargo Innovation Incubator, IN2. IN2 is a five-year $10 million program funded through the Wells Fargo Foundation and administered by NREL. The program provides selected companies up to $250,000 in technical and business assistance, in order…
NETenergy, a thermal energy storage (TES) company, has created a thermal battery that stores energy to help large buildings control cooling costs. TES addresses the problem with on-peak energy consumption as on-peak energy prices are typically two to six times higher than off-peak energy prices. NETenergy’s thermal battery integrates with an air conditioning system that runs at night, shifting consumption from on-peak to off-peak and will charge the thermal battery, which will then discharge energy during the day when electricity is priced higher. The thermal battery aims to reduce the cost of cooling in commercial buildings by minimizing consumption during peak cooling demand times, which are subject to additional charges.
Battery systems that store energy efficiently and respond to energy demands.
By utilizing NETenergy’s thermal battery to store cold energy, building owners can save on their energy usage and reduce carbon emissions. Additionally, this technology can save utilities from spending billions of dollars per year building and maintaining “peaker” power plants that are only used a few times per year.
HOW IN2 IS HELPING
NETenergy is receiving assistance with laboratory testing to validate performance and optimization based on temperatures, coolant types, flow rates, pressures, thermal profiles and specifications. NREL’s experts and facilities are assisting with system integration, design and control of NETenergy’s thermal battery to existing building AC systems in an effort to install a full-scale system in a commercial building.