Energy & Power
How to save Ontario $8 billion? Invest in CAES, says NRStor
June 23, 2015 ByAnthony Capkun
June 23, 2015 – NRStor and General Compression Inc.—both proponents of compressed air energy storage (CAES) technology—report that a study they commissioned finds the technology for storing excess energy generated by green sources could save Ontario up to $8 billion over a 20-year period.
“Renewable sources of energy can be unpredictable. Energy storage technology can make renewable energy available whenever it’s needed—and that will pay dividends for Ontario,” says Dr. Andrew Ford, author of the study and professor emeritus at Washington State University.
Through a combination of renewable energy integration and load levelling, the study estimates that 1000MW of CAES capacity could deliver between $6.5 billion and $8.3 billion in savings to Ontario ratepayers over 20 years, while reducing carbon emissions by 87 million tonnes over the same period.
NRStor Inc. is an energy storage project developer, while General Compression develops CAES technology.
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