IESO to Develop and Administer a Hydrogen Innovation Fund
February 9, 2023
Plans for a $15-million Hydrogen Innovation Fund to support new and existing hydrogen projects as well as research studies were announced earlier this week by the Ontario government. The province already enjoys a low-carbon power system, but this program will move us further down the road to decarbonization and help drive broad emissions reductions in other sectors of the economy.
As noted in our recent Pathways to Decarbonization report, the IESO sees the potential for hydrogen resources to support Ontario’s growing reliability needs by providing renewable/clean energy integration, peaking generation capacity, ancillary services and long-term and seasonal storage.