BC Hydro Power Smart 2.0: New Funding and Energy Savings Opportunities for Businesses

June 8, 2026

BC Hydro is making its largest-ever investment in energy efficiency with the launch of Power Smart 2.0, a $1-billion plan designed to help British Columbians reduce energy consumption, lower costs, and support the province’s growing electricity needs.

While homeowners will benefit from expanded rebates and energy-saving programs, some of the biggest opportunities may be for commercial and industrial customers. Through increased funding, incentives, and support, businesses can improve efficiency, modernize operations, and reduce energy costs while remaining competitive in an increasingly electrified economy.

A Major Opportunity for Commercial and Industrial Customers

For businesses looking to improve efficiency and reduce operating expenses, Power Smart 2.0 introduces significant new opportunities.

Commercial and industrial customers will have access to expanded funding, including as much as 100% of eligible project costs in some cases. These investments support upgrades, process improvements and new technologies that help businesses stay competitive, while reducing energy use.

This expanded support can help businesses move forward with projects that may have previously been difficult to justify financially. From manufacturing facilities and industrial operations to commercial buildings, municipalities, and institutional facilities, organizations now have greater access to funding that can help accelerate energy-saving improvements.

As energy costs continue to play an important role in operating budgets, investing in efficiency can provide long-term savings while improving productivity, reliability, and overall performance.

What Types of Projects Could Benefit?

Power Smart 2.0 is designed to encourage investments that reduce electricity consumption and improve efficiency throughout a facility.

Potential projects may include:

LED Lighting Upgrades

Lighting remains one of the fastest and most cost-effective ways to reduce energy consumption. Modern LED fixtures consume less power, require less maintenance, and provide improved light quality for warehouses, offices, manufacturing facilities, schools, and commercial spaces.

Automation and Controls

Advanced automation systems help businesses better manage electrical loads, lighting, HVAC systems, pumps, and motors. Smart controls can automatically adjust energy use based on occupancy, schedules, and operational requirements, reducing waste while maintaining performance.

Energy Monitoring and Metering

Many businesses don’t know exactly where energy is being consumed throughout their operations. Energy monitoring solutions provide valuable insight into consumption patterns, helping organizations identify inefficiencies and make informed decisions about future improvements.

Motor Control and Variable Frequency Drives

Industrial facilities often rely heavily on motors, pumps, and fans. Upgrading to high-efficiency motors and implementing variable frequency drives (VFDs) can significantly reduce energy consumption while improving process control and equipment life.

Supporting Business Growth and the Provincial Economy

Power Smart 2.0 is not only about saving energy. It is also expected to deliver meaningful economic benefits throughout British Columbia.

BC Hydro estimates the initiative will generate approximately $1.4 billion in GDP annually while supporting more than 3,500 jobs each year across the province.

These opportunities will create demand across a wide range of industries, including:

• Electrical contractors
• Energy managers and consultants
• Engineers and designers
• Automation and controls specialists
• Renewable energy installers
• Industrial facility builders
• Facility managers and maintenance teams

For businesses, the program provides access to funding that can support growth, modernization, and operational improvements. For contractors and solution providers, it creates opportunities to help customers implement projects that improve efficiency and reduce costs.

What This Means for Electrical Contractors

Electrical contractors are often the trusted advisors helping customers identify opportunities to improve efficiency and qualify for available incentives.

As organizations look to take advantage of Power Smart 2.0 funding, contractors may see increased demand for projects involving:

• LED lighting retrofits
• Lighting controls and occupancy sensors
• Building automation systems
• Energy monitoring and metering
• Variable frequency drives
• Electrical service upgrades
• EV charging infrastructure
• Industrial electrification projects

Contractors who understand energy-efficient technologies and available funding opportunities will be well positioned to support customers as more organizations pursue energy-saving initiatives.

More Information on Power Smart 2.0

How EB Horsman & Son can help Contractors with Power Smart 2.0

Source