Canada Renewables Report Q2 2016
Latest Updates and Structural Trends
Non-Hydropower Renewables Capacity and Generation are expected to grow by 8.72% and 6.74%respectively in 2016, with our long-term solar and wind power forecasts significantly revised to accountfor the continuous absence of new and adequate policy support, particularly for the solar sector.
The new Canadian government is planning a national energy strategy to increase Canada's renewableenergy share, as well as a Low Carbon Economy Trust to support emission reducing projects.
Investments in renewables plummeted by 46% y-o-y in 2015 to only USD4bn compared to investmentsin Canada's oil and gas industry of USD45bn (also down 40% from USD73bn in 2014).
In November 2015, Alberta and Saskatchewan have announced ambitious renewables targets of 30% and50% respectively by 2030, as well as a comprehensive coal power retirement.
In August 2015, the government of Nova Scotia announced the termination of its Comfit Feed-in-Tariffprogram. Its success directly led to its termination as the province' national grid continued to struggle todeal with fast growing wind power levels. The government hence considered the goal of the programmereached.
The Canadian developer Atlantic Wind and Solar Inc announced the formation of a yieldco, Power 1Inc, in May 2015, aimed at buying and holding its projects to provide a reliable yield from ongoingpower sales.
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