The topic of energy storage has been front and centre in the
energy world in the past twelve months. As discussed previously (
here and here), energy storage has been referred to by
many commentators as a "game changer" because it will
greatly improve the efficient use of electricity resources
(generation, transmission, distribution). In this article, we
explore recent storage developments in Canada, the U.S. and beyond
that have occurred since we introduced this topic last year.
Background
To provide some background on where energy storage stands today,
GTM Research reported that the U.S. energy
storage market alone is expected to increase tenfold to US$3.2
billion from 2016 to 2022, according to a recent report of the U.S.
Energy Storage Monitor. One possible reason for the anticipated
increase is that the cost to implement storage technologies has
dropped significantly, making it more cost-effective. According to
a recent McKinsey article, the average
