What is Energy Storage Worth? Building a Business Case for Batteries
- Date
- October 10, 2019
- Time
- 12:00 PM EDT - 2:00 PM EDT
- Location
- Centre for Urban Innovation, Room CUI-219, 44 Gerrard St East, Toronto, ON M5B 1G3
- Contact
- Matthew Kerry at matthew.kerry@ryerson.ca
Seminar description
Energy storage has the ability to meet a variety of electricity system needs such as energy, frequency regulation, spinning reserve, and others. But how much does the system need? And how much is it worth? These two questions need to be answered first before energy storage owners and investors can create viable business cases by value-stacking through multiple monetizable revenue streams.
We determine the system needs that energy storage has the potential to satisfy through a new zonal capacity market formulation with energy storage. This energy and services model allows for the participation and co-optimization of resources connected to both transmission and distribution systems considering conventional and renewable energy generators with energy storage. Flow between zones is also considered, and non-wires solutions are sited and sized.
The proposed model enables holistic and comprehensive supply and system planning so that consumers can benefit from lower costs and prices. Furthermore, the participation of additional, third party suppliers can transfer risk from the central planning authority (and therefore consumers) to the private sector.
Independent Electricity System Operator (IESO) fellow Jessie Ma has been working on this research since 2018. In this seminar, the second in our fall 2019 series, she will share insights from her research and explain how this model will benefit Ontarians. Edward Arlitt, Supervisor of Advanced Technology Research at the IESO, will provide introductory remarks.
Speaker bios
Program
12:00 p.m.
Registration, refreshments and networking
12:15
Seminar
1:00
Q&A
1:30–2:00
Networking
Accessibility
Ryerson is committed (opens in new window) to providing an accessible learning environment. Please let us know if we need to make any accessibility accommodations to ensure your inclusion in this event.
Notices
- This event is free but spaces are limited. Please register beforehand, using the Eventbrite button at the top of this page, to secure your spot.
- Light refreshments will be served.