How much energy storage does Canada need?

Image: NRStor. Energy Storage Canada’s 2022 report, Energy Storage: A Key Net Zero Pathway in Canada indicates Canada will need a minimum of 8 to 12GW of energy storage to ensure Canada achieves its 2035 goals.

Should energy storage be a key component of Canada's energy future?

Long-duration storage should be a key component of Canada’s energy future Additionally, while it is important we act and act quickly to deploy energy storage to meet the evolving needs of Canada’s energy system, we also need to act with an eye toward the long-term beyond 2035.

How much does energy storage cost?

Importantly, with the $170/tonne carbon price and the current Emissions Performance Standard (EPS) of 0.310 tonnes of emissions per MWh, the marginal cost of energy storage is in many cases higher than even the highest marginal cost gas-fired generators when gas prices are $3.50/MMBtu.

How much energy would a storage asset cost in 2022?

When combined with a marginal cost offer, the total energy offer would be $376/MWh – or nearly eight times the average HOEP in 2022. Storage assets that are operated more infrequently will require much higher energy offers – in some cases, higher than the ceiling price in Ontario’s wholesale energy market.

How many MWh can a container hold?

Range of MWh: we offer 20, 30 and 40-foot container sizes to provide an energy capacity range of 1.0 – 2.9 MWh per container to meet all levels of energy storage demands. Optimized price performance for every usage scenario: customized design to offer both competitive up-front cost and lowest cost-of-ownership.

What is the incentive structure for energy storage?

The incentive structure is intended to price signals incent the asset to operate in an economically efficient manner, while avoiding contract-related must-offer conditions or an offer window. In today’s market, energy storage is not scheduled or dispatched holistically in the IESO’s dispatch and scheduling software.