Ontario increases funding for energy efficiency programs by $342 million
October 4, 2022 By Anthony Capkun
October 4, 2022 – The Ontario government is increasing funding for the province’s energy efficiency programs by $342 million, adding that this brings the total investment to more than $1 billion over “the current four-year electricity conservation framework”.
“With strong economic growth and electrification increasing system demands, the IESO is committed to meet growing system needs and ensuring grid reliability by enhancing energy efficiency programming,” said Lesley Gallinger, president & CEO, Independent Electricity System Operator.
This funding will support a new voluntary Residential Demand Response Program with an incentive for homes with an existing central air-conditioning or heat pump unit and smart thermostat to help lower energy use at peak times and lower bills.
It will also provide targeted energy-reduction support for greenhouse growers in Southwest Ontario, in addition to enhancements to existing programs that provide support for businesses, municipalities, hospitals, etc.
“By 2025, this expansion of energy efficiency programs will help deliver enough annual electricity savings to power approximately 130,000 homes every year and reduce costs for consumers by over $650 million,” said Todd Smith, Minister of Energy.
The government expects these new and expanded energy efficiency programs to be available to eligible electricity customers beginning in Spring 2023.
“Using less energy is better for people and our planet,” said David Piccini, Minister of the Environment, Conservation and Parks. “It’s also one of the fastest and most effective ways to save money, address climate change and help ensure we can continue to generate the clean, renewable and affordable electricity needed to meet the province’s long-term needs.”
The overall savings from this energy efficiency programming will result in an estimated three million tonnes of GHG emission reductions over its lifetime.
“Energy efficiency is one of the most reliable and cost-effective approaches to ensuring reliability on the grid,” added Gallinger. “By using energy wisely, we increase opportunities to support electrification initiatives and decarbonization efforts at the same time.”
The increased investment in energy efficiency programs will help to offset the need for new electricity generation facilities in upcoming resource procurements, says the province.
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