Press release
Growing Requirement for Electricity Propels Demand for Flywheel Energy Storage
The various advantages of flywheel include low maintenance costs, fast response, long expected lifetime, and a roundtrip of around 90% efficiency.
The stored kinetic energy serves as the flywheel momentum. It facilitates the electricity generator as another part of the system for producing electricity.
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The flywheel energy storage industry is projected to rise in the coming years, it is ascribed to the growing requirement for electricity in remote places, surging government policies related to electricity production, and the growing requirement for altering conventional energy generation methods.
APAC-based flywheel energy storage industry is projected to experience the fastest growth in the coming years, ascribed to rising demand for a continuous power supply, with surging government efforts for supplying clean energy.
The flywheel energy storage utilizes electric motors for driving the flywheel to rotate faster, enabling the conversion of electrical power into mechanical power and storage. When required, flywheels can drive the generators for power generation.
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The flywheel system functions in a high vacuum environment, due to no friction loss, long life, small wind resistance, no environmental impact, and no required maintenance. That is why this flywheel system is utilized for power quality guarantee and power grid frequency modulation.
Therefore, the rising requirement for energy storage to later utilize it as power backup boosts the demand for flywheel energy storage.
Browse more reports:
Hydrogen Energy Storage Market - https://bit.ly/3Wwx6bL
Energy Storage Market - https://bit.ly/3WAlHaU
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