According to an Independent Electricity System Operator (IESO) forecast, the electricity demand in Ontario is to increase by 2% annually over the next 20 years. Therefore, to follow the growing demand and keep the net-zero goals, the province plans to build an affordable clean electricity grid to help the environment, improve energy independence, and boost the economy (especially job creation) at the same time. These are the main reasons why the largest battery storage is on the way.
Today, the most populated province in Canada currently has 228 MW in storage capacity on the grid, generated mostly at the pumped storage Sir Adam Beck facility in Niagara. However, you may ask, what do we mean when we talk about battery storage? In summary, we can say that they are smart devices that enable energy from renewables, like solar and wind, to be stored and then released when the power is needed most. This smart technology facilitates the replacement of fossil fuels with renewable energy.
What should you know about the largest energy storage procurement?
In May 2024, the provincial government concluded the largest battery storage procurement in Canada’s history to support the province’s growth as we said before. If applied as it’s being planned, the battery storage will improve the energy efficiency across the province decreasing, consequentially, the utility bills for residents and carbon emissions.
According to both the Ontario government and the Independent Electricity System Operator (IESO), their latest round of procurement secured a total of 2,195 megawatts (MW) of capacity – a quantity enough to power the peak demand of 2.2 million homes. The province’s entire storage fleet will be comprised of 26 facilities with a total capacity of 2,916 MW, exceeding the government’s initial target of 2,500 MW.
Natural Gas
The latest round of procurement also secured 411 MW of natural gas and clean on-farm biogas generation which together acts as an insurance policy, maintaining energy reliability on the hottest and coldest days of the year. According to the government, without a limited amount of new natural gas in the near term, the expectation is that the IESO would be reliant on emergency actions such as conservation appeals and rotating blackouts to stabilize the grid.
EV – Electric Vehicles investment
Ontario is recognized today as a leader in the global production and development of electric vehicles, batteries, and battery materials, after having over $43 billion in automotive investments (EV) secured over the last four years.
If you aim to invest in clean energy for your home or business, our energy experts can introduce you to some possibilities based on your goals and budget.
