Ontario’s goal to shift completely from fossil fuel-based energy to green alternatives by 2050 will cost $400 billion and will require the size of the province’s electricity system to be doubled, according to the Independent Electricity System Operator (IESO).
“Attaining a decarbonized electricity sector by 2050, alongside aggressive electrification, would require a system more than double the size it is today at an estimated cost of around $400 billion,” said the IESO in a report published on Dec. 16 titled “Pathways to Decarbonization,” which was written at the request of Ontario’s Energy Minister Todd Smith.
“Significant investments in capital, materials, and labour are needed, and emerging technologies will need to be developed,” the report added….