The Ontario government says it will invest nine and a half million dollars to support projects aimed at making the province’s electricity system more efficient.
This year’s funding will be focused on transportation and heating and cooling, two sectors that are driving significant electricity demand increases.
Energy Minister Todd Smith says the government will use new technologies to make our grid more efficient as demand increases with the electrification of transportation, industry and heating.
He says this funding under the Grid Innovation Fund will support the next generation of innovative projects to help lower costs for consumers and support Ontario’s reliable, affordable and clean grid.
The province notes as of December 2023, there were more than 150,000 EVs registered in Ontario, including both battery-electric vehicles and plug-in hybrid electric vehicles. By 2030, there are expected to be more than one million EVs on the road in Ontario.
Adding that over 400,000 households in Ontario use electric heat pumps for heating and cooling.
The Grid Innovation Fund will be administered by the IESO, which is opening applications for funding in May 2024.
Written by: K. Freeman with files from the Canadian Press
