Discover the Benefits of the Swan Lake Energy Storage Project
The successful integration of large amounts of wind and solar depend on the ability to store large amounts of renewable energy on a daily basis so that it can be dispatched when and where it’s needed. The Swan Lake Energy Storage Project will address these challenges for Oregonians for generations to come.
The Swan Lake Energy Storage Project will create thousands of well-paying jobs.Read More
The construction of the Swan Lake Energy Storage Project will create 1,000s of good-paying construction jobs over the 3- to 5-year construction period. Once the project is complete, the project will require 12 operators at the project facility near Klamath Falls. These permanent operations jobs are well paid family wage positions that cannot be moved offshore. ECONorthwest estimates that once constructed, the Swan Lake Energy Storage Project will indirectly create an additional 24 jobs in Klamath County.
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Klamath County will see a significant increase in property tax revenue during operations of the Swan Lake Energy Storage Project, providing benefits to local public schools and other public services in need of new sources of revenue.Read More
ECONorthwest estimates that annual operations of the Swan Lake Energy Storage Project will generate an estimated $6.2 million in goods and services, $1.7 million in labor income. The majority (96 percent) of these goods, services, and labor benefits from operations will fall within Klamath County totaling approximately $4.2 million, of which $3.4 million will be from goods and services generated by the project. The remaining benefit will occur within the whole state of Oregon. Using Oregon’s Strategic Investment Program, the project will generate approximately $31.5 million from property taxes for Klamath County over a 15-year Strategic Investment Program exemption period, amounting to $2.1 million per year. Additionally, spending and income from annual tax and fee revenues for operations totaling $200,000 will go to state and local taxing jurisdictions.
Combating Climate Change & Increasing Electrical Grid SecurityRead More
California and the Pacific Northwest are pursuing aggressive strategies to reduce greenhouse gas (GHG) emissions from electricity production, including the planned retirement of existing coal-fired power plants and reduced reliance on natural gas-fired generation serving the region. It is estimated that under current policies, as much as 8,000 megawatts (MW) of generation capacity will come offline by 2030.
Renewable energy sources like solar and wind are poised to fill the gap but transitioning to a heavy reliance on intermittent generation means bulk energy storage is needed. Energy storage is the best technology to support the successful integration of large amounts of wind and solar power and provide grid-wide benefits (described below). Battery storage will play a role in this transition as well, but the technology is not ideally suited for longer duration bulk energy storage and has drawbacks that include a short lifespan, a large carbon footprint, and significant environmental impacts.
The successful integration of large amounts of wind and solar will increasingly depend on the ability to store large amounts of renewable energy on a daily basis so that it can be dispatched when and where it’s needed. Energy storage is the most economical bulk energy storage solution that can address these challenges:
Storing renewable energy and absorbing over-generation: Energy storage facilities can store large amounts of energy for use when needed, a feature that is particularly valuable during periods of over-generation when renewable energy production exceeds demand.
Meeting peak demand: Energy storage resources are uniquely suited to releasing stores of renewable energy over long durations during periods of peak demand.
Capturing oversupply of solar: Energy storage can support the efficient storage of large amounts of California solar energy for delivery to Oregon consumers at times of peak demand.
Minimizing curtailment and transmission congestion: Renewable resources are often located in remote areas with limited transmission. When transmission lines become congested, renewable generation sources are forced to curtail their production. Energy storage acts as a buffer, optimizing the use of existing transmission lines and minimizing strain on the electrical grid, thereby reducing the need for upgrades.
In addition, energy storage can provide most (if not all) of the grid reliability services currently provided by fossil fuel-fired power plants, such as primary frequency and voltage response. These ancillary services are critical to maintaining a reliable electricity grid. For these reasons, energy storage is the best available bulk storage technology for supporting renewables integration.