Energy Storage Prospects Bright in Virginia, Ontario
Virginia is a prime state for the strategy of using batteries to reduce electric rates by storing energy when it is less expensive for use when prices are higher, according to a feature at Bacon’s Rebellion.
The state has three things going in its favor: Peak rate demands are relatively high compared to other states – which makes such a strategy attractive – its base rates are “significantly lower than the national average” and the state’s utilities are members of PJM Interconnection. The multi-state organization, which is focused on the Midwest and mid-Atlantic states, enables excess power to be marketed to utilities serving 60 million people if it is not needed by the building hosting the battery. The story goes on to describe the electric load management innovations utilities are using reduce peak power demand.
The Globe and Mail suggested that Ontario may be well positioned in the energy storage sector as well. At times, the story says, the province generates more energy than it needs. Finding the most efficient ways of storing that excess energy is driving innovation, with many of the entrepreneurial firms clustered in MaRS Discovery District in Toronto.
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