Canada Backs Energy Storage as Alberta, Ontario Projects Bloom

October 4, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)-- Canada's federal government is bolstering its development of battery energy-storage system (BESS) technology through generous tax credits and supply-chain agreements with both corporations and other nations, such as Japan. The Energy Innovation Program (EIP), which advances clean-energy technologies to help Canada reach its net-zero goal by 2050, is allocating funds to BESS and other projects that will reduce the nation's carbon footprint. Industrial Info is tracking nearly US$11.4 billion worth of active and planned energy-storage projects across Canada, the bulk of which are found in Alberta and Ontario.

Alberta, which is the heart of Canada's Oil & Gas Industry, leads all other provinces and territories in energy-storage developments with more than US$7.2 billion of investment. These include projects from companies such as Capital Power Corporation, TransAlta Corporation (NYSE:TAC) and Concord Pacific. Ontario is hosting projects from companies such as Northland Power Incorporated and Boralex Incorporated.

Other companies featured: Mitsubishi Heavy Industries, Contemporary Amperex Technology Company Limited and Dynapower