Power Smart and Demand Side Management
Energy conservation and efficiency are the best and most cost-effective way to meet the province’s growing electricity needs and will be an integral part of the province’s clean energy future. In fact, BC Hydro is working to meet at least 66 per cent of new demand through conservation and efficiency by 2020.
Since its inception in 1989, Power Smart has been one of BC Hydro’s most important programs to meet growing electricity needs through conservation.
Now, with an even more aggressive energy savings target, BC Hydro is implementing a wide-ranging approach to conservation, involving customers, government, manufacturers and retailers.
Specifically, BC Hydro is:
- Deploying new and enhanced programs and financial incentives for businesses, industry and everyday British Columbians;
- Implementing conservation rates to provide incentive to use less electricity and save more money
- Encouraging improvements to building codes and product standards to increase the efficiency of buildings and the goods people use.
Benefits and opportunities
Power Smart delivers savings year after year. Power Smart initiatives from 2008 through 2011 will deliver annual energy savings of approximately 2,300 gigawatt hours per year – the equivalent of powering more than 200,000 homes annually.
Through Power Smart, BC Hydro has helped to increase the adoption of energy efficient products, by reducing cost barriers, developing higher performance standards and increasing public awareness.
- More than $150 million in bill savings since 2007
- For every $1 spent on energy conservation, BC Hydro saves $3.00 in generating costs
- Power Smart initiatives create 6,400 jobs each year