Clean Energy Canada has recently released their comprehensive paper evaluating how the clean energy sectors are performing in Canada, and they’re calling it a revolution, ‘Tracking the Energy Revolution – Global 2015’ to be precise. There’s no question that change is in full swing worldwide: investments, innovation and growth are all pointing towards the clean energy sector and away from fossil fuel sources.
Canada’s clean energy sector is on the rise in a big way, as investment in new clean-power generation rose 88% from 2013 (totalling appx. $10.7 billion). The report shows that the greatest investments were in wind, totalling $16.89 billion in 2014. Solar follows with investments of $6.14 billion. But don’t be mistaken, our country has a long way to go in terms of policy and support for this growing sector. While policies around clean energy have been strengthened and adapted at provincial and municipal levels, federally, there has been minimal action and support.
According to the report ranking by province, British Columbia lands at number 3 for clean energy leadership because of its commitment to clean energy and investment. BC scores lower on the policy front because of “an exemption in its clean electricity requirement that allows liquefied natural gas plants to produce electricity from fossil fuels”. The one noted policy out of BC was the legislation “intended to limit the amount of carbon pollution that the gas industry’s proposed LNG terminals may release”.
Overall, the missing piece to keeping Canada’s growth in clean energy strong and globally competitive is federal support. Incentives and framework will pave the way for increased clean energy initiatives, and are a huge component of getting innovation to market.