Rooftop Solar: Pathways to Decarbonization and Electrification
Canada has made clear its commitment to decarbonization. Last month, the Canadian government set a $9.1 billion 2030 Emissions Reduction Plan to assist the country in meeting its carbon reduction goals, with deep reductions in the oil-and-gas sector. This is in the wake of many new policies and an ambitious country-wide net zero emissions goal by 2050.
Canada Demonstrates Commitment to Green Energy
On April 22nd, Canada in conjunction with President Biden’s Leaders Summit on Climate announced a new initiative to engage governments around the world in greening government operations, aiming to lead by example. Canada’s new greenhouse gas reduction target under the Paris Agreement would be 40 to 45% below 2005 levels by 2030.
2021: A Bright Outlook for Solar and Renewables
With the days getting longer, the sun shining brighter, and a year of COVID under our belts, it’s a great time to observe the state of renewable energy in North America and explore some recent developments.
Despite a pandemic, Renewable Energy has been thriving in Canada and the USA. Canada had significant growth in solar, wind and energy storage projects in 2020, setting the stage for significant growth in 2021 and beyond. In the United States, 2020 was a record year for solar, becoming the fastest growing sector in the country, with installations on track to quadruple by 2030.
Without further ado, here’s what’s been going on in the world of Renewables in North America:
Economics of Solar Power in Canada
The Canada Energy Regulator (formerly the National Energy Board), published a report on the Economics of Solar Power in Canada (ESPC)[1] studying the financial viability of typical solar power projects in over 20,000 Canadian communities. While we’ve spoken quite a bit about the rapid drop in solar costs of the past 10 years, this report helps to give context not only to how far solar has come, but what we can expect in the near future. In many provinces across Canada, it is now cheaper to use solar compared to power from the grid.
CAIF is sweet but don’t bet the solar farm on it!
Background on CAIF and Solar
A few weeks ago, the Federal Government’s Environment and Climate Change Canada (ECCC) released the Applicant Guide for the Climate Action Incentive Fund (CAIF) and opened the application window via their Single Window Information Manager (SWIM). The CAIF represents an exciting opportunity for Canadian businesses who are or will be investing in solar net-metering.