Smart Energy Networks allow for more efficient use of energy resources through various innovations:
- Energy exchanges between power grids and gas networks provide new flexibility by allowing power to be stored as gas and vice versa. This includes power-to-gas technologies like electrolyzers to convert excess renewable energy into hydrogen.
- Over $3 billion has been invested in green energy projects in Canada and the US, including over 1000 MW of wind power and 150 MW of solar power across several provinces and states.
- Alternative technologies like fuel cells and waste heat recovery complement renewables by reducing costs and increasing environmental benefits.
- Power-to-gas allows for seasonal electricity storage by converting excess power into hydrogen which can be injected