Innovation For Clean Technologies
Canada needs clean energy to power a growing population, lower greenhouse gas emissions, and keep its industries competitive as the global economy shifts toward electrification. The Government of Canada and energy experts point to several key reasons why expanding clean power is vital for the country's future:
Meeting Rising Demand
- Electrification: Households and businesses are switching from fossil fuels to electricity for heating and transportation.
- Grid Expansion: Canada's national strategy aims to double the capacity of the electricity grid by 2050 to keep up with this new demand.
Boosting Economic Competitiveness
- Attracting Industry: Global companies want low-carbon power for data centers, mines, and manufacturing plants. Clean energy gives Canada an edge in securing these investments.
- Clean Economy: Canada already attracted nearly $50 billion in clean investments, and expanding renewables helps create well-paying jobs.
Reducing Emissions and Health Risks
- Cutting Pollution: While Canada already generates about 80% of its electricity from non-emitting sources, sectors burning coal and gas still produce harmful emissions.
- Cleaner Air: Phasing out traditional fossil-fuel power reduces smog, leading to fewer hospital visits and better public health.
Securing Energy Independence
- Price Stability: Renewable power grids rely less on globally traded, volatile fossil fuels like oil and gas.
- Consumer Protection: Local clean energy helps protect families from sudden international price spikes and supply disruptions
Building Future
The potential market for Canadian renewable energy and clean energy fund are entering its most aggressive expansion phase in decades. Driven by federal net-zero mandates, surging vehicle electrification, and massive corporate demand, Canada’s total renewable energy market size is projected to grow exponentially, with total project pipelines forecasted to top $200 billion by 2035.
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