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Energy Storage
& EV Charging

One of the distinctive characteristics of the electric power sector is that the amount of electricity that can be generated is relatively fixed over short periods of time, although demand for electricity fluctuates throughout the day. Developing technology to store electrical energy so it can be available to meet demand whenever needed would represent a major breakthrough in electricity distribution.

 

Helping to try and meet this goal, electricity storage devices can manage the amount of power required to supply customers at times when need is greatest, which is during peak load. These devices can also help make renewable energy, whose power output cannot be controlled by grid operators, smooth and dispatchable.

 

Energy storage solutions can also balance microgrids to achieve a good match between generation and load. Storage devices can provide frequency regulation to maintain the balance between the network's load and power generated, and they can achieve a more reliable power supply for high tech industrial facilities. 

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Thus, energy storage and power electronics hold substantial promise for transforming the electric power industry.

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Enhanced energy storage can provide multiple benefits to both the power industry and its customers. Among these benefits are:

 

  • Improved power quality and the reliable delivery of electricity to customers;

  • Improved stability and reliability of transmission and distribution systems;

  • Increased use of existing equipment, thereby deferring or eliminating costly upgrades;

  • Improved availability and increased market value of distributed generation sources;

  • Improved value of renewable energy generation; and

  • Cost reductions through capacity and transmission payment deferral.

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The diverse approaches currently being deployed around the world can generally be divided them into six main categories:

 

  1. Solid State Batteries - this includes a range of electrochemical storage solutions, including advanced chemistry batteries and capacitors;

  2. Flow Batteries - these are batteries where the energy is stored directly in the electrolyte solution for longer cycle life, and quick response times;

  3. Flywheels - are mechanical devices that harness rotational energy to deliver instantaneous electricity;

  4. Compressed Air Energy Storage - this solution utilizes compressed air to create a potent energy reserve that can be quickly released;

  5. Thermal Storage - this captures heat and cold to create energy on demand; and,

  6. Pumped Hydro-Power - this creates large-scale reservoirs of energy using water.

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Canadian Green Fund is working to provide unique funding solutions to accelerate the development and deployment of energy storage projects.

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