Breakfast Overview - The Business Case for Electricity Storage Systems
Event Date: May 01, 2019
May 1, 2019
Breakfast 8:00 - 8:30 am
Presentation: 8:30 - 9:15 am
Question and Answer: 9:15 - 10:00 am
41 Willcocks Street
$45.00 (CDN) + GST
Electric energy storage (EES) systems are in a rapid development phase. They are considered as critical to enabling transitioning to a cleaner a more versatile electric power system. The most commonly cited application of EES is arbitraging variable generating sources such as solar and wind matching them with the demand. However, there are numerous other applications of EES in traditional and modern grids, such as ramping, black start, demand response, voltage support etc. The perceived benefits of EES have led to new EES technology developments, demonstration projects, and research projects that quantify the benefits of EES systems. Despite these developments, implementations of EES systems have been limited to demonstration projects. A significant uptake of EES has not been observed. The high capital costs of EES systems have been identified as one main barrier to deployment. In addition to the capital costs, other non-technical barriers include some regulatory treatments of EES that may prevent them from tapping into multiple revenue streams and limitations of evaluation methods utilized to quantify benefits of EES.
This study will evaluate the full value of EES by applying a techno-economic modelling framework to electric power systems of Canadian provinces. The study intent to provide insights into market opportunities for different storage technologies, attributes of different technologies should carry to provide intended services, and contributions of EES to achieve energy, environmental, and economic goals set by different provinces.