In the summer of 2022, Peak Power was one of the funding recipients of Natural Resources Canada’s (NRCan) Zero-Emissions Vehicle Incentive Program (ZEVIP), a federal initiative to support the installation of Electric Vehicle (EV) charging stations in Canada. NRCan invested $765,000 in Peak Power, with a combined total project cost of $1.6 million, to deploy 117 EV chargers at several mixed-use developments in Ontario.
As an example, Peak Power enabled the installation of 18 electric vehicle chargers at an iconic class A building in the heart of downtown Toronto. Along with the integration of Peak Synergy software, the chargers address tenants’ evolving charging and sustainability needs of while supporting the grid and Canada’s EV infrastructure goals.
These chargers were installed by Signature Electric, are connected to the SWTCH EV Network, and will be integrated into Peak Power’s Synergy software.
Our partners seek opportunities to keep their buildings at the cutting edge and deliver strong value across their asset portfolio. By working with Peak Power, our partners realized a substantial effective discount on their investment in these chargers. Commercial buildings in downtown Toronto are looking to maximize incentive value and ESG impact, and as part of this program, they opted to expand charger installation.
As of Q1 2023, additional projects are in development in downtown Toronto with planned operation for spring 2023.
For real estate investment firms, tenant engagement and satisfaction are paramount. They’re inextricably linked to improving the value and performance of assets and the pursuit of net zero goals. Installing EV chargers is an opportunity to improve asset value, future-proof buildings, support corporate net zero goals, and provide attractive benefits to current and prospective tenants.
By layering Peak Synergy software into the charging stations, customers can optimize the energy use of the chargers to ensure cost efficiency. This could result in thousands of cost savings on electricity (hydro) bills. These financial benefits can be derived all while helping to build the EV infrastructure needed to reach the federal government’s goals of accelerating the electrification of Canada’s transportation sector and enabling a net zero economy of the future.
SWTCH is proud to work with a fellow innovative energy solutions provider out of the Toronto tech ecosystem. Through our integration, we are able to combine SWTCH's advanced EV charging energy management capabilities with Peak Power's advanced grid prediction capabilities and demand response algorithms. Together, we are able to find the optimal balance to reduce operating costs while maintaining tenant satisfaction.
Contact us about your project needs, or if you have a question about your current energy storage asset optimization.