(Source: Datamonitor)
French energy company Total has signed a research agreement with the Massachusetts Institute of Technology, or MIT, to develop new stationary batteries that are designed to enable the storage of solar power. The agreement valued at $4 million over five years is part of the MIT Energy Initiative, which Total joined as a member in November 2008.
Total has said that the Total-MIT research project is primarily focused on development of a low-cost, long-life battery suited to store the power generated by solar panels.
Philippe Boisseau, president of gas and power at Total, said: "This research partnership with MIT, one of the world's leading research and academic institutions, is a major step forward in Total's R&D commitment to developing alternative energy sources. Our partnership with MIT and its energy initiative will support groundbreaking research, designed to meet the needs of energy consumers."
Ernest Moniz, director of the MIT Energy Initiative program, said: "Total's support for research in the storage of solar energy has the potential to be a game-changer. We applaud their commitment and look forward to working with them to develop low-cost storage options that could enable affordable, reliable energy from renewable sources."
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