This report looks at how the shift to using heat pumps to heat and cool homes in Ontario will affect peak period electricity demand and examines measures that can be used to curb the need for new electricity generation to meet increased demand. It finds that measures such as thermal storage, batteries and pairing with EVs can allow Ontario to make the shift to heat pumps at a much lower cost than by just building new electricity generation. It makes the case that instead of spending millions on things like new polluting gas plants, the province should support consumers and businesses that want to install peak demand reduction technology.