Variable pricing can likely do a great deal to match supply with demand without needing grid storage. Many uses of power are flexible, like charging electric cars, running the electric water heater/freezer/refrigerator, etc.
The variability needs to be very high to be an effective incentive for small power uses. If price of electricity goes from 10c/kWh to $1/kWh, it won't stop you using 1kW kettle for 5min if you want tea. And if push the price high enough to be effective, it starts hurting essential electricity users. Demand adjustment is more effective for industrial users who have beancounters.
Probably better to target excessive capacity and pay for use during overproduction. It makes grid storage and alternatives like water to hydrogen conversion profitable solutions.
>The variability needs to be very high to be an effective incentive for small power uses. If price of electricity goes from 10c/kWh to $1/kWh, it won't stop you using 1kW kettle for 5min if you want tea.
Industrial users can be persuaded to vary their usage though.
A 'smart home' could also be programmed to handle variable electricity usage - e.g. load up a washing machine ready to go and let it start running when electricity is cheapest, or electric storage heaters.
Neither of these things require any technological leaps whereas efficient, cost effective grid-level energy storage does.
It's roughly 2x more expensive on peak vs off peak in Ontario and it was enough that all my roommates would plan their dishwasher and laundry schedule around it.
