The global economic crisis has the world community working to improve their economies and as they do so they must keep an eye to the global economy if they wish their economy to truly thrive after recovery. In tandem with the economic crash another crisis looms – that of dwindling fossil energy sources and climate change. Many nations and groups see renewable – “green” – energy and the industries built around it as a solution to economic depression; in other words, green energy and economy. Canada, in particular, is one of these nations.
In 2008 more money was invested in renewable energy, worldwide, than the total investment in nuclear, coal and natural gas electricity. 148 billion US dollars were invested in green energy projects across the world. This investment trend continues today and it stands to reason then that nations who develop green energy will be in the market for this capital. Canada will need to look to its available resources and needs if it wishes to maintain its strong position in the emerging global market, as most developed nations, especially Canada’s neighbors, are working to attract this money for themselves.
For example, in the United States recent legislation outspends the Canadian Federal budget by fourteen times toward renewable energy.
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.
A notable initiative toward that end is the development of procedures and technologies for carbon capture and storage. Canada has put itself forward as an innovator in this area of research and development and has committed some considerable amounts of money toward this end. But nations who are not yet fully sold on the necessity of curbing carbon emissions such as Australia and the USA still spend hundreds of millions more than the nineteen million spent by Canada.
Canada is already ahead of most nations in at least one area of renewable energy – hydroelectricity. The provinces of Labrador, Yukon, Manitoba and Quebec already get more than ninety percent of their power from hydroelectric dams. Nationwide, most of Canada’s electricity comes from these dams.
It is noted that Ontario, Quebec and the Prairies region of Canada are regions with strong potential for solar power. Canada does not yet use much solar energy to produce electricity, though its government has produced studies showing this could change by 2025, with solar power providing 5 percent of electricity by then. Canada does use solar power more regularly for heating buildings and water as well as drying lumber and crops.
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.
Currently 1.1 percent of Canada’s electricity is produced by ninety-nine wind farms. The Canadian Wind Energy Association states it could reach a capacity of 55,000 MW by 2025, meeting 20 percent of Canada’s needs.
At the provincial level, some parts of Canada are already demonstrating the economy of renewable resources. Ontario recently passed the Green Energy and Green Economy Act of 2009. To give just one example of what the bill provides for, it will offer low- or no-interest loans to homeowners to purchase and install solar panels or other generators of renewable energy.
In British Columbia, GLOBE Foundation of Canada estimates the province’s recent turn to a green economy could be worth over 27 billion dollars by 2020. It is already responsible for 117,000 full time jobs and over 15 billion dollars of provincial GDP.
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.
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