Canada Renewables Report Q4 2017
BMI View: Canada's non-hydropower renewables market benefits from a vast resource potential, yet is undermined by a fragmented policy framework across its provinces and an economic dependence on fossil fuels. The setting of ambitious renewables targets by key oil producing provinces of Alberta and Saskatchewan sent a strong message as we await the first renewables auction in Alberta in Q417. Nevertheless, a lower than expected non-hydro renewables growth in 2016 and rising natural gas consumption mean we expect non-hydropower renewables to play a very minor role in our updated 10-year forecast until 2026.
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