CanREA applauds Ontario’s decision to leverage storage and non-emitting resources to satisfy the province’s rapidly growing energy system needs
Toronto, October 7, 2022— Ontario Minister of Energy Todd Smith has today directed the Independent Electricity System Operator (IESO) to proceed with procuring as much as 2,500 MW of latest energy storage and other non-emitting resources to satisfy the province’s rapidly growing energy system needs.
“The Canadian Renewable Energy Association (CanREA) applauds the choice to acquire as much as 2,500 MW of energy storage and other non-emitting resources by 2027 to satisfy Ontario’s urgent electricity system capability needs,” said Brandy Giannetta, CanREA’s Vice-President of Policy, Regulatory and Government Affairs.
“Energy storage will help to enable simpler integration of the province’s generation resources while enhancing energy system resiliency and suppleness, and it may well be quickly and safely deployed exactly where it may well offer the best locational value to the grid,” said Giannetta.
With the province’s abundant supply of critical minerals, a fast-growing battery manufacturing sector, and diverse firms and institutions on the forefront of energy storage research and innovation, Ontario is poised to be a pacesetter in energy storage for a few years to return.
“As Ontario’s electricity demand continues to grow over the approaching decade, we must be certain that energy storage capability is capable of charge from low-cost, non-emitting electricity,” said Giannetta.
“Because the lowest-cost generation technologies, recent wind and solar generation shall be key to meeting future supply needs affordably while protecting Ontario’s clean electricity advantage.”
Background
- Ontario’s electricity demand is projected to extend by roughly 15% over the subsequent decade, reaching 168 million MWh by 2032. This sustained increase is driven by strong economic and population growth, coupled with the rapid electrification of transportation and industry.
- At the identical time, the upcoming retirement of the Pickering nuclear plant (roughly 14% of the province’s electricity supply) implies that after a few years of sufficient supply and stable demand, Ontario will soon need a big volume of latest generation capability to keep up a protected and reliable electricity system.
- Today, the Ontario electricity supply is roughly 90% non-emitting, due to the contributions of hydro, nuclear, wind and solar energy. Maintaining this clean electricity advantage into the longer term shall be essential, each to realize the province’s emissions reduction objectives and to be certain that Ontario businesses remain globally competitive, and that Ontario continues to draw recent investment in key sectors.
- In a 2022 survey of over 300 of Ontario’s largest energy consumers, 85% reported either having implemented or planning to implement corporate clean electricity targets.
In regards to the Canadian Renewable Energy Association
The Canadian Renewable Energy Association (CanREA) is the voice for wind energy, solar energy and energy storage solutions that can power Canada’s energy future. We work to create the conditions for a contemporary energy system through stakeholder advocacy and public engagement. Our diverse members are uniquely positioned to deliver clean, low-cost, reliable, flexible and scalable solutions for Canada’s energy needs. For more information on how Canada can use wind energy, solar energy and energy storage to assist achieve its net-zero commitments, seek the advice of “Powering Canada’s Journey to Net-Zero: CanREA’s 2050 Vison.” Follow us on Twitter and LinkedIn. Subscribe to our newsletter here. Turn into a member here. Learn more at renewablesassociation.ca
For more information or for interview opportunities, please contact:
Communications
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