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ARTICLE · 20 APRIL 2021

Canadian Power - Energy Storage: A Key To Energy Transition

McCarthy Tétrault
McCarthy Tétrault
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McCarthy Tétrault

McCarthy Tétrault

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Electricity markets are beginning to experience a rapid transformation as development and deployment of energy storage continue to grow at an accelerated rate.

CanadaEnergy and Natural Resources
Canadian Energy Perspectives
Canadian Energy Perspectives
Reena Goyal
Reena Goyal
Kimberly Howard
Kimberly Howard
Kerri Lui
Kerri Lui
Suzanne Murphy
Suzanne Murphy
Jason Phelan
Jason Phelan
Sou Semalulu
Sou Semalulu
Author LinkedIn connections

Introduction and overview of the technology

Electricity markets are beginning to experience a rapid transformation as development and deployment of energy storage continue to grow at an accelerated rate. While industry stakeholders have been aware of potential benefits for some time, energy storage now appears to be at an inflection point. The current rise of energy storage financing and development opportunities mirrors the heightened interest in solar technologies that we observed nearly a decade ago.

Storage technologies present a unique opportunity to more precisely balance the supply and demand of electricity in a reliable, affordable and sustainable manner. Energy storage refers to the process of converting electrical energy to a storable form and then back into electricity when required. The term "energy storage" is a broad umbrella that applies to a range of technologies and applications.

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