Expected ROI of MW scale storage system project in Canada 2030

Is government funding for energy storage projects increasing?

Government funding for energy storage projects is increasing. The Smart Renewables and Electrification Pathways program (SREPs)—which supports clean electricity projects—recently announced $500 million in additional funding and a new round of intakes for the Utility Support Stream.

How many MW is installed in Alberta?

In addition to the 100MW already installed in Alberta, the province has projects with a total capacity of more than 2500MW in the queue for connection.

What are the cost forecasts used in IESO's 2022 P2D study?

The cost forecasts used in this module are updated from the values that were used in the IESO’s 2022 P2D study and are based on the 2023 NREL ATB report. NREL provides capital cost projections for wind generation and both utility-scale and distribution-scale installations of solar and storage.

How do IESO forecast the cost of new renewable resources?

The IESO currently bases most of its forecasts for the cost of new renewable resources on the US National Renewable Energy Laboratory’s (NREL) Annual Technology Baseline (ATB) report1. The ATB is an annual survey of resource cost projections that is a common reference point for both industry and academic studies.

Are utility scale resource capital costs lower than distributed resource costs?

Utility scale resource capital costs are lower than distributed resource costs, due primarily to economies of scale, but it is worth noting that distributed resources can be strategically sited to provide additional value to the system by deferring or avoiding investment in transmission or distribution infrastructure (as recently demonstrated