When it comes to renewable energy, there’s the valid question: “But what do you do when the sun doesn’t shine or the wind doesn’t blow?” A new joint venture, launched with $20 million, thinks it has an answer - compressed air. Public Service Enterprise Group Inc., owner of New Jersey’s largest utility, has formed Energy Storage and Power with inventor Michael Nakhamkin which will develop and market compressed-air energy storage systems. PSEG will spend $20 million over the venture’s first three years, with the option to invest more should customers start picking up projects, PSEG tells us.

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