First, it is important that governments, regulators, and system operators are informed about the potential of storage and that they understand the importance of modernizing the regulatory environment to ensure its integration.This goes hand in hand with ensuring governments continue to provide mechanisms to support the development of the nascent industry, through policy, but also through programs such as the current Federal Investment Tax Credits (ITCs), which support storage development at the grid level, as well as manufacturing. Second, it will be important to ensure a reliable and stable supply chain for the varied components and natural resources required to manufacture energy storage systems. As an emerging industry, these supply chains are in the process of being established and need concentrated support to ensure the development of a robust range of suppliers for the components and supplies these systems require. It is essential for Canada’s industry to remain competitive. Where possible, the development of domestic supply provides an opportunity for Canada to further 87 BUSINESS VIEW MAGAZINE VOLUME 12, ISSUE 04 ENERGY STORAGE CANADA
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