Energy Storage In Alberta: Technology And Market Assessment For Wind-paired Energy Storage With Suncor's Wintering Hills Wind Farm
Abstract
Energy storage is a critical element of modern energy systems. Among other benefits, storage promotes integration of intermittent renewables and development of smart, efficient grids. However, many technologies are immature and expensive. Suncor Energy noted declining profits from wind farms in recent years due to several factors, and is looking at storage to increase revenues. This research provides a techno-economic evaluation of emerging technologies, and assesses compatibility with Suncor's operations, the Alberta grid and Alberta electricity markets. Financial models of sophisticated storage systems such as batteries show that a small project is likely to be profitable under current market conditions if the electricity is sold in ancillary services markets (which provide instantaneous fine-tuning to match supply with demand). However, future demand will be for bulk energy storage applications that store large volumes for longer periods. Several emerging technologies are examined, and, though unproven, they show potential for low-cost, high-volume storage.
Description
Keywords
Citation
Huygen, A. (2014). Energy Storage In Alberta: Technology And Market Assessment For Wind-paired Energy Storage With Suncor's Wintering Hills Wind Farm (Unpublished report). University of Calgary, Calgary, AB.