Green Energy And Economy And Their Relation To Canada
The dwindling fossil fuel supply and the possible end of energy systems reliant upon them is of great concern to the world community. And in the midst of the global recession, the economies of individual nations as well as that of the global system are of paramount importance. That these two issues are of moment at this same time invites nations and businesses to to find ways for solutions to one to also provide solutions to the other. As a major global economic player, Canada also plays a role in this crisis of combining green energy and economy.
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.
The United States Recovery and Reinvestment Act of 2009 invests nearly fourteen times as much in renewable energy than Canada's Federal Budget of that same year.
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.
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.
Canada has plentiful solar energy resources, particularly in Ontario, Quebec, and the Prairies. Although currently only a small part of Canada's energy production, there is a solar power infrastructure in place mainly for non-electric space and water heating. Government studies show solar energy could account for five percent of energy needs by 2025.
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.
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.
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