Abstract for: Simulating the Value of Advanced Electricity Storage: Initial Results from a Case Study of the Ontario Power System
This paper describes the use of system dynamics to aid long-term planning for the power system in Ontario, Canada. Our work focused on the value of an investment by NRStor, Inc in bulk energy storage using GCAES, the General Compression Advanced Energy Storage™ technology. The models simulate the air pumped into an underground cavern when electricity prices are low and the generation from the air released when prices are high. This arbitrage value is combined with other services such as the discplacement of capacity and the integration of wind generation. The models have been used to promote learning among the members of the NRStor/GCAES project team and among the key agencies involved in planning and operating the Ontario power system. The modeling system provides a unique perspective on ways to obtain multiple services from a single storage facility. And from a system dynamics perspective, the system demonstrates a unique way to combine short-term operational models with a long-term planning model. This combination has proved successful in promoting team learning through simulations of short-term and long-term dynamics in an internally consistent and mutually reinforcing manner. The paper concludes with Ontario’s plans for the storage project and for the modeling system.