Listen: Canada, Ontario, Lake Ontario discussed on ONE Energy
"Technology become a quivalent to conventional heating and cooling systems. So this technology's not really well known in Canada. I don't think there's not many providers. We have some expertise on this technology within pinch in which is good for our clients. But I think that's why we don't talk about it enough in Canada. Then to move into the more. For the more modern or you talk about alternative fuels. And then you're into wind and solar. Andy seem to be the modern version, the more buzzword technologies that right that have become much more well established. And I think that's going to continue because the costs to implement them have come down over time. The technology continues to improve if you monitor the changes in the blades for wind turbines, quite a work in progress to see that, that technology is still evolving. But here's the thing. And this is a big thing, at least in on -tario Ontario installed wind and solar probably now at represents up to twenty five percent of its installed electrical capacity. But when they did, so they did it without. Installing storage and because I'm not a wind or a not a windex 'but. But the thing I've learned in on -tario wind. It's, it's cyclic, and we have most of our wind occurring at night, when we don't need the electricity. And the way the regulations are set out when these alternative technologies are providing us electrically, we don't have the capabilities to turn them down. So without having installed storage capacity. What they're doing it on -tario, sir, causing some destruction with the stability of our electric grid, which unfortunately, plays a role in us having to turn on our natural gas fired electrical systems, emit carbon, which is Shane because we've got lots of electric capacity total. And then in regards to storage. Age. I think is an absolutely fascinating point there member doing a research study on an island off of Spain. Maybe you've seen this. You know what I'm talking about what they have done for those listening is they used the excess electrically generated by the winter binds, and created kind of a mini help me out like water. You know, hydro hydro electric gas turbines, prompt. They pumped the water up a hill. And then when they need it, it the let the water flow in turn turbine produce, electricity sting, which is a fascinating idea. That is fascinat- that reminds me of what hydra stores done in Toronto something similar. They've been demonstrating the idea of using excess green electricity when it's available to store, a high pressure air balloons in Lake Ontario, ruin and then later you. Use that energy when electrobi- is needed or expensive to recreate the energy for the grid. But there's other storage technologies as well. And this is probably one of the things that so cool about cleantech, is it just provides so many opportunities for creative thinkers, and unter preneurs to come up with new ways to store energy. One of my favorite is hydrogen. And I'm a fan of hydrogen because when I was in industrial gases, I looked after a hydrogen business. So I've got a bit of a soft spot for hydrogen, you hear about hydrogen of vehicles, and really hydrogen vehicles are really electric vehicles. It's just that hydrogen is the fuel source used because it's a way of storing electricity. So the way that works is through electrolysis you use the electrically when it's available to convert hydrogen or water into hydrogen. Which you then later us when you need the electricity or you're driving your car. So there's that technology and hydrogens also used in power to gas type technologies which I don't think it's really taken off yet, but there are other applications for hydrogen as well. With all of these. Ideas or even solutions that you presented. I think I do one hundred percent agree that I think geothermal is often overlooked think it's like the younger brother of the family. You know, everyone always talks about the older cooler siblings. But then, like, oh, yeah, there's a little Billie like kid, right? You know, like geothermal is a great idea. I know I'm at university of Ontario technology and they power, they have huge thermal system in place. Yes. Out of all these things, hydrogen wind and solar geothermal? Do they have the ability to, you know, meet the price point of oil and gas? I know that that was a hurdle you had mentioned earlier. Yeah. So few things about that. I think oiling gas. I think it's always going to have its place. I think making electrobi- is always going to be more inherent than. Carbon based fuel sources so electricity. You can kind of gain sixteen cents per kilowatt hour and burning natural gas. It's like less than three cents kilowatt hour. I think I think bottom line. The answer to your question is going to be around the regulatory framework on pricing. Carbon. I think if the regulatory framework comes about that carbon emissions from fossil fuels are priced high enough. That's probably the only mechanism where the really gonna become that equivalent is there anything that, you know, people listening or even just people in general that they can do to help make some of these things more accessible. Yeah. I've got a few notes on that. Yes. So I think. Thinking from the perspective of small to medium sized. Manufacturers. And the thing that I see is, you know what they really are conscientious about carbon emissions and. Everybody does genuinely want to be compliant with the regulations, and there's a high interest now in learning about alternative energies, and I already spoke about viral spoke about electricity, being fundamentally more expensive than fossil fuels, but companies, they need to educate themselves, and be smart. Because one of the things we see is you talk about carbon, okay? I'm going to reduce energy consumption and the first thing they think about is electrically which in Ontario is the wrong thing to think about because our electricity grid is so green move and. I spoke about on -tario having the highest cost of electrically. So what I seek companies doing is economically. They're doing the right thing because the reducing cost by using less electricity. But they're not really helping the carbon situation because the electricity they use isn't emitting carbon anymore. So this is why I say that companies really need to be smart. They need to be clear on the reasons they're doing projects. Is it to save cost? Or is it to save carbon because an on Terry? Oh, it's very complex situation. Just because the electricity pricing is so high. So a few things to keep in mind, what we've noticed in at or at least I've noticed because I wasn't previously aware of this is how. Vibrant in Canada. The financial industry is, and this idea of green bonds, and investors having an interest in helping implement technologies to improve the environment. So if I was a small to medium sized manufacturer, I would say, you know what if you've got a project that can reduce your carbon emissions, but it doesn't meet your internal thresholds for capital within your organization. Then maybe there's a third party investor through the green bond system that may have an interest in doing that project on your behalf under some sort of financial arrangement the next thing I would say, is don't overlook transportation. We talked about in on Tero. I believe that this is the next. Cohesive pot of carbon that could provide s a step change downwards and carbon emissions for this province. But yeah, it's like if you run a lot of onsite transportation equipment like forklifts, there have been companies that switch those vehicles to hydrogen technology and save carbon emissions that way or maybe battery power might work well in those sorts of instances. And so I would just say that we need to be mindful to look at ways to use surplus carbon free electricity to displace fossil fuels. So and what I mean by that. And on. Oh, I think it's a missed opportunity because we know at night and on tarot are based. Band as lower all of our electric city is green. But nobody's really talking about installing twin electric natural gas fired heating."