http://www.sciencedaily.com/releases/2011/07/110713121301.htm
ScienceDaily (July 14, 2011) — A novel application of carbon nanotubes, developed by MIT researchers, shows promise as an innovative approach to storing solar energy for use whenever it's needed.
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Thermo-chemical storage of solar energy uses a molecule whose structure changes when exposed to sunlight, and can remain stable in that form indefinitely. Then, when nudged by a stimulus -- a catalyst, a small temperature change, a flash of light -- it can quickly snap back to its other form, releasing its stored energy in a burst of heat. Grossman describes it as creating a rechargeable heat battery with a long shelf life, like a conventional battery.
One of the great advantages of the new approach to harnessing solar energy, Grossman says, is that it simplifies the process by combining energy harvesting and storage into a single step. "You've got a material that both converts and stores energy," he says. "It's robust, it doesn't degrade, and it's cheap." One limitation, however, is that while this process is useful for heating applications, to produce electricity would require another conversion step, using thermoelectric devices or producing steam to run a generator.
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