IESO and OEB join forces to support innovative projects to help meet province's growing energy needs
TORONTO, June 18, 2021 /CNW/ - Businesses and communities will soon be able to test innovative energy technologies and approaches thanks to a new partnership between the Independent Electricity System Operator (IESO) and the Ontario Energy Board (OEB).
The IESO Grid Innovation Fund (GIF) and the OEB Innovation Sandbox will hold a joint, targeted call later this year for submissions to support research and demonstration projects that have the potential to provide value to consumers and the grid. The IESO and the OEB are interested in innovative proposals that would test the capabilities of Distributed Energy Resources (DERs) in providing services at both the local and provincial levels.
DERs generally refer to resources that produce, store or manage electricity and are connected to a local grid or on a customer's premises. Some examples include rooftop solar panels, battery storage units and demand response devices, such as smart thermostats, that help reduce or shift consumers' electricity usage.
With Ontario electricity demand increasing this decade, DERs have the potential to increase grid reliability, affordability and competition, as well as enhance value for consumers. The challenge is to harness these resources effectively so that they are integrated as part of the broader electricity system.
As the system becomes more diverse and complex, the IESO and the OEB are partnering to help identify and address some of the technical and regulatory barriers that can stand in the way of DERs fulfilling their potential. The IESO will offer financial support for innovative projects through its GIF that increase understanding of DER capabilities, how they can be integrated into electricity markets and the distribution system, and how they can contribute to the cost-effective and reliable operation of the grid. The OEB Innovation Sandbox will offer utilities and other companies carrying out GIF-funded projects assistance on regulatory aspects of their projects where required.