The world’s nations are concerned about the potential end of fossil fuels and the effect this would have on their energy infrastructures. Equally of concern is the economy, both the global economy and the economies of the individual nations. There is broad agreement amongst them that these two concerns – green energy and economy – are intertwined. Amongst the nations looking for solutions is Canada.
Total global investment in renewable energy, in 2008, was greater than all combined investment in nuclear, natural gas and coal electricity. Renewable energy initiatives attracted almost US$148 billion worldwide. Nations that work to create renewable energy solutions will attract the bulk of this money. Therefore, if it wishes to remain globally competitive in this new world market, Canada needs to present itself as an attractive market in order to win these investments and prevent them going elsewhere, most likely the United States.
For instance, the US has just invested almost 14 times as much money in green energy than Canada did in last year’s Federal budget.
Seen from another view, it is largely agreed that the global climate is in danger primarily as a result of carbon emissions. In order to combat global warming emissions will need to be reduced, and to remain competitive industry will have to find green energy solutions. The countries constituting the Major Economies Forum set a goal to reduce carbon emissions to fifty percent of their 2005 levels in forty years. The International Energy Agency estimates that they will have to spend three to six times more yearly than they are now if they want to achieve those numbers.
Canada has stated that it favors research into the capture and storage of carbon emissions. The government also claims to be investing heavily into the necessary Research and Development toward that end. However, in comparison, the United States and Australia, both of whom have an ambivalent attitude toward the reality of global warming, still spend hundreds of millions of dollars more yearly than Canada.
If Canada wishes to enter fully into the renewable energy economy, it already has a strong base from which to develop this capacity. Hydroelectric dams already produce most of Canada’s electricity. Quebec, Manitoba, Labrador, and Yukon produce over 90% of their electricity this way.
It is noted that Ontario, Quebec and the Prairies have strong potential for solar energy. Right now, little of Canada’s energy comes from solar power. However, there are solar-powered systems across the country set up for non-electric space and water heaters. By 2025, government studies demonstrate five percent of Canadian energy requirements will be filled by solar power.
Canada has many remote areas with small and spread-out populations and this makes providing electricity to them difficult. Since the standalone diesel fuel systems that had to be used to provide power in these places were so costly, energy providers in these regions began using standalone units powered by PV cells instead. When exposed to light, the semiconductors within the photovoltaic cell directly generate electricity. This has proven especially beneficial in the northern part of the country.
As for wind power, ninety-nine wind farms already give Canada 1.1 percent of its electricity. Per the Canadian Wind Energy Association, this can increase to 55,000 MW in fifteen years and provide for twenty percent of Canadian electric power.
The impact on the economy is already on display in parts of the country. Ontario’s Green Energy and Green Economy Act of 2009 incentivizes homeowners to use renewable energy generators like solar panels by offering low- or no-interest loans to finance the cost.
British Columbia is turning toward a green economy the creation of which has already produced 117,000 full time jobs and makes up over fifteen billion dollars of the province’s GDP. GLOBE Foundation of Canada has estimated British Columbia’s development of a renewable resource economy will make the province worth over twenty-seven billion dollars in ten years.
A great number of countries and markets are committing to a green market and economy. Canada demonstrates it has the resources and ability to do so as well.
Solar Power devices, green energy sources like the field of science is around every day. The children learn with fun optical equipment, telescopes and science lab equipment.