TORONTO — Gurprasad Gurumurthy, Senior Analyst at the Pembina Institute’s Electricity program, made the following statement in response to Ontario’s latest energy procurement results.
“New contracts for wind and solar energy projects announced today demonstrate that, when the playing field is level, renewable energy wins. It’s another signal that the shift to renewable electricity — which we’re seeing worldwide – is being driven by affordability above all else. The Government of Ontario and the Independent Electricity System Operator should be commended for running a technology-agnostic process that has ultimately allowed Ontarians to benefit from the lowest-cost electricity. It’s also encouraging to see that all projects announced today have Indigenous participation.
“This is a very good time for Ontario to start building wind and solar again, knowing that project costs for these generation types have plummeted in the last 15 years, making them cheaper than any other form of new electricity generation.
“In today’s world, renewable energy also means energy security — once built, the fuel is free and you can’t apply tariffs to the wind or the sun, or block access to that energy.
“With lots of energy-hungry industries looking for places where they can invest, the speed at which new electricity can be brought online matters. Quick-to-build wind and solar therefore supports economic growth throughout Ontario.”
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Background
Report: Powering ON
Blog: Canadian solar and wind project costs plummet
Blog: Ontario faces risks in relying too much on gas power
Contact
Hanneke Brooymans
Senior Communications Lead, Electricity, Pembina Institute
587-336-4396
