BMI View : On paper, Canada is an excellent candidate for non-hydro renewable development; with vast wind resources, plenty of land to construct wind farms, a national commitment to rid itself of coal fired electrical generation and a safe investment climate. However the country's huge hydro electrical capacities, and truncated constitutional arrangements which leave emissions targets with the federal government and precise energy mix policies with provincial jurisdictions, has created a patchwork quilt of markets and policies across the country. Add to that mix the national reliance on oil and gas as a major source of its wealth and renewables are destined to play a minor role in the Canadian energy story.
Canada does provide opportunities, especially in the emerging in-stream tidal sector and wind, but is a laggard in adopting other renewable technologies at scale.
Non-hydro renewable power generation is forecast to rise at a respectable rate of 8.70% in 2015. However, this is starting from a very low point. Only 5.5% of all electrical generation in Canada will come from non-hydro renewables in 2015, reaching 7.35% in 2020. Most of that capacity is from wind, although there is a relatively good potential for in stream tidal to begin to make a mark by 2020.
An additional impediment is the lack of need for greater electrical energy. The country is mature, with consumption growth averaging at around only 1% per year. Most renewable energy projects are fuelled by a combination of regulatory and environmental stipulations combined with subsidies. If the subsidies are ever removed, the sector would quickly be endangered, as cheaper hydro potential is in vast supply.
Although coal and hydropower remain fundamental sources of power for Canada, the Canadian government aim to incorporate greater levels of renewables into the energy mix in order to reduce carbon emissions (targeting reduction of greenhouse gas emissions by 17% by 2020, from 2005 levels).
The Canada Renewables Report researched at source contains Business Monitor International (BMI)'s assessment of the current renewables market in Canada. The report also contains historical data together with forecasts to end-2018 covering electricity generation (TWh) and electricity capacity (MW).
The renewables sectors covered in the report include Wind, Solar, Geothermal, Tidal and Wave, and Biomass (See Table of Contents for exact coverage). The report also features details on government green energy agendas and funding opportunities, as well as presenting a detailed list of key renewables projects currently being planned or undertaken in Canada, their capacity, the timeframe of construction and their current status.
The report discusses the various energy policies currently in force, including targets, subsidies and the relevant infrastructure developments or limitations which might impact on renewables growth, analysing the potential effects of regulatory changes in conjunction with the background macroeconomic outlook. Finally, there is a general overview of the competitive landscape in Canada, together with a detailed summary of the main utilities and manufacturers present and their business operations.
BMI's Canada Renewables Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with unique independent forecasts and competitive intelligence on the Canada renewables industry.
- Benchmark BMI's independent renewables industry forecasts for Canada to test other views - a key input for successful budgeting and planning in the renewables market.
- Target business opportunities and risks in the Canada renewables sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in the country.
BMI Industry View
Summary of BMI's key industry forecasts, views and trend analysis covering the renewables market in Canada, regulatory changes, major investments and projects and significant multinational and national company developments.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the renewables sector and within the broader political, economic and business environment.
BMI Industry Forecasts
Historic data series (2010-2012) and forecasts to end-2018 for electricity generation (TWh) and electricity generating capacity (MW) for each individual renewables sector present in the country.
These in turn are broken down into:
Electricity Generation: Overall capacity (TWh), growth % change year-on-year, KWh per capita, % of Total Non-Hydropower renewables generation, % of total electricity generation.
Electricity Capacity: Overall capacity (MW), growth % change year-on-year, % of non-hydroelectric renewables capacity and % of total capacity.
These forecasts are in turn supported by explicit assumptions, in conjunction with analysis of the key risks to the main forecast.
Business Environment Rankings
BMI's Renewables Business Environment Rankings provide fully comparable Risk-Reward Rankings aimed at investors in the regional renewables market.
The rankings methodology makes sophisticated use of various industry, economic and demographic data point.