For Immediate Release
July 23, 2025
Energy storage has a number of potentially significant applications in Newfoundland and Labrador, says a discussion paper released today by econext.
“From balancing supply and demand in our electricity grid to enabling significant new economic development, energy storage can play an important role in our province’s clean energy future,” said Kieran Hanley, econext’s CEO.
Energy can be stored through a variety of different technologies ranging from batteries, to gravity-based systems that involve water or weights, to the use of underground caverns. econext’s discussion paper outlines a range of technologies and considers their various possible benefits within the context of Newfoundland and Labrador – including barriers that may exist to their adoption.
Energy storage is viewed internationally as being key in the fight against climate change, as it allows for the stabilization of renewable energy supplies which are oftentimes intermittently available – when the sun does not shine and the wind does not blow.
“What strikes us in this paper is the enormity of the opportunity associated with salt dome structures that are prevalent in Western Newfoundland,” said Hanley. Salt domes are geological formations that provide large, stable underground cavities that can be utilized for energy storage, particularly for hydrogen and compressed air. “The energy storage potential that exists in our province is unique and presents significant economic development opportunities not just for our province, but for the continent.” Hanley said the resource warrants a great deal of attention.
The report was completed in partnership with Angler Solutions and is intended as a first step for econext to define more concretely the opportunities that exist and inform its future efforts to help innovators pursue them.
econext is a not-for-profit association with a mission to accelerate clean growth in Newfoundland and Labrador by: (1) stimulating research, development, and innovation; (2) preparing its workforce for a greening economy; and (3) acting as a catalyst for climate change action within its industries, businesses, and communities. econext has been working for over 30 years on behalf of its members across many sectors to support environmentally sustainable economic development. For more information, visit econext.ca.
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