Ontario's Long Term Energy Plan to Include Energy Storage
TORONTO, Dec. 2, 2013
- Ministry of Energy's plan will make Ontario a leader in the next
generation of energy technology -
TORONTO, Dec. 2, 2013 /CNW/ - Today, the Ministry of Energy released
Ontario's updated Long Term Energy Plan that includes one of Canada's
most significant commitments to energy storage.
"Today, the Ontario Government acknowledged energy storage is vital to
the future of an electricity system with improved efficiency, lower
costs and increased reliability," said Annette Verschuren, Chair and
CEO of NRStor. "Now it's up to our industry to prove how the innovative
storage technologies available today will benefit the system and the
ratepayer by continuing to bend the cost curve."
Energy storage technologies, such as flywheels, batteries and compressed
air energy storage, can store or generate electricity on demand to more
efficiently manage the electricity grid. Storage assets can improve
Ontario's electricity system through a variety of distinct services and
are a key component of smart grid development.
NRStor applauds the Ministry for taking the appropriate steps to
accelerate the growth of the energy storage industry in Ontario. The
Ministry announced storage technologies will be included in the
procurement process starting with 50MW by the end of 2014. Several
additional engagement efforts were announced including: a study will be
commissioned to establish the value of storage technologies on the
electricity grid; opportunities for net metering and support from
conservation programs will be examined; there will be opportunities for
storage to be included in large renewables procurement; and the
Ministry will work to address regulatory barriers that may limit energy
storage from competing in the market.
By deciding to include storage in Ontario's procurement process the
Ministry is driving not only a more efficient grid but economic growth
and job potential as well. Many of these new technologies are home
grown in Ontario with export opportunities to serve the globe.
About NRStor Inc.
NRStor Inc. is a privately held Toronto-based energy storage project
developer focused on accelerating the commercialization of
industry-leading energy storage technologies. NRStor is partnered with
a variety of technology suppliers that manufacture and integrate
flywheel, compressed air and battery energy storage systems. The
Company offers flexible financing solutions to develop effective and
cost-competitive storage systems based on clients' precise technical
and financial needs. NRStor is led by Chair & CEO Annette Verschuren,