Reiterating my response to Off-Grid Clean Power:
You don’t need to have any traditional energy storage systems when you can have clean locally 24/7 continuous generation systems on demand in ridiculously confined spaces.
What I mean is that it is possible to generate electrical energy from magnetic systems, and this is where the comment regarding the objective of the competition fits:
"The magnetite found in neodymium magnets is the most efficient energy storage system ever created."
Neodymium magnets have a very high coercive force, and there will be no demagnetization and magnetic changes under the natural environment and general magnetic field conditions. Assuming under an appropriate environment, even after a long period of use, the magnetic performance of the magnet will not be greatly reduced. Therefore, in practical applications, we often ignore the influence of time on the magnetic performance of neodymium magnets.
The golden ticket is in “How to harvest electrons” …
This can make it possible to generate the necessary energy in two ways:
Autonomous Generation Distributed towards the immediate systems that consume it “locally”
Autonomous Generation Embedded within the systems that consume it. Let’s not go further, it can be applied from a refrigerator to an electric vehicle, without the need for expensive batteries.
As we have commented previously, the Autonomous Systems of Generation of Energy by Magnetic Transduction, can be applied to generate true green hydrogen, thermal energy, electrical energy, plasma, etc.
In the economic balance, the levelized cost of energy indicates a return on investment time of 2.5 to 3 years, if we consider that a magnet can have a life time of up to 150 years, the rest of the time the energy is financially free.
We hope that these comments can offer an idea of the scope of following this development path, we continue to do our part.
Thank you very much, as always it is a pleasure to greet you and to be able to contribute to the project.
Best regards to the XPRIZE team.