Renewable energy could reliably power the grid at peak times using an eco-friendly and cost-effective storage solution designed by Swiss start-up Energy Vault.

The technology, which works by moving concrete bricks around, has more longevity than batteries and more versatility than pumped hydroelectricity ? two major current methods for storing energy.

It offers a possible solution to one of the key problems of renewable energy sources like wind and solar, which because they are produced intermittently, need to be stored for later use.

Energy Vault says the system delivers baseload power cheaper than fossil fuels.

"The world needs rapidly scalable and sustainable energy storage solutions to meet one of the most urgent challenges ? the need to decarbonise our energy generation ? and we're thrilled to launch Energy Vault's unique technology to help solve this problem," said Energy Vault co-founder and CEO Robert Piconi.
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