Household energy storage project financing options in Canada 2030

Is government funding for energy storage projects increasing?

Government funding for energy storage projects is increasing. The Smart Renewables and Electrification Pathways program (SREPs)—which supports clean electricity projects—recently announced $500 million in additional funding and a new round of intakes for the Utility Support Stream.

Can Canada expand its clean electricity system?

The federal government’s Budget 2023 included substantial new financial supports for provinces and territories to help expand clean electricity. By tapping into the tens of billions of dollars on the table, provinces and territories can pave the way towards an affordable energy future for Canadians by expand-ing their clean electricity systems.

How many energy storage projects are there in Alberta?

While there are nearly 50 energy storage projects currently listed within the Alberta Electric System Operator (AESO)’s projects list, the development of a 600MW portfolio of five solar-plus-storage projects by Westbridge Renewable Energy Corp. is underway.

Will Canada's energy future be affordable?

By tapping into the tens of billions of dollars on the table, provinces and territories can pave the way towards an affordable energy future for Canadians by expand-ing their clean electricity systems. Our research shows that as the country transitions to clean energy, average energy costs for Canadians will be 12 per cent lower in 2050 than today.

What types of energy storage are available in Canada?

There are three main types of energy storage currently commercially available in Canada: Storage is playing an increasingly important role in the electricity system by improving grid reliability and power quality, and by complementing variable renewable energy sources (VRES) like wind and solar.

How do I get funding for energy retrofits in Canada?

Clean Energy Loan – The Canada Green Affordable Housing Program Homeowners meeting the applicable affordability criteria are eligible to receive funding for retrofits, but must first apply for funding and carry out pre-retrofit activities (such as energy audits and energy modelling studies).