Fossil fuels are over. Done with. The energy source that dominated the 20th century is on the way out.
What will replace it? Green electricity will power us from here on out.
Canadians Want It
Canada is one of the world leaders in the production and use of renewable power, like hydro, wind, solar, and biomass energy. Canada also has a significant development in marine and geothermal energy.
Right now renewable energy sources provide about 16% of the total primary energy supply in Canada.
So where does this renewable energy come from? Water. It provides more than 60% of Canada’s electricity generation. But wind and solar are the fastest-growing sources of energy.
The 2019 Federal Government Budget indicated that US$14.8 billion was spent on infrastructure projects with the objective of:
- Reducing greenhouse gas emissions
- Delivering clean air
- Safe water systems
- Promoting renewable power plants
Energy efficiency has increased by 31% in Canada since 1990. And as officially reported, in 2016 these improvements saved Canadians $45 billion.
Alberta is the Epicenter of Growth
Canada’s biggest oil-producing province Alberta. It has been expected to see the fastest growth in renewable energy capacity between 2018 and 2023 by the Canada Energy Regulator forecast.
New wind and solar projects are slowly replacing coal-fired electricity.
By 2023, 26% of Alberta’s electricity capacity will come from renewable sources, up from 16% in 2017. The neighboring prairie province of Saskatchewan will also see renewable energy capacity jump to 33% from 25% over the same period.
Two of the hottest sectors in the ESG [Environmental Social And Governance] revolution right now are hydrogen and absolutely anything that ties into the $5 trillion global transportation industry.
Investors are piling into hydrogen – a potential solution for a clean energy future – and it’s now predicted to become an $11-trillion marketplace by 2050.
We will definitely keep you updated when new disruptors with huge upside potential come along. Even better, join our FREE newsletter and you’ll be among the first in the know!