Renewable Power in Canada
Over the past five years, the Renewable Power industry has grown slowly in response to weak growth in demand alongside steady increases in electricity rates. While the industry has benefited from an improving economy that has resulted in increased consumer spending and rising demand from commercial sources, industrial output has only risen weakly in response to declining commodity prices between 2014 and 2016 that prompted slashed activity in a wide range of industries. Over the next five years, IBISWorld forecasts the industry will benefit from rising commodity prices, which, alongside increased consumer spending, should stimulate demand from industrial and commercial sources. Further, increasing fossil fuel prices will make thermal generators less competitive compared with industry establishments, which should benefit the industry.
This industry generates power by harnessing resources that are replenished naturally. Industry facilities include hydro, solar, wind, geothermal, biomass and other types of power plants that use renewable energy. Renewable power typically emits fewer pollutants than fossil fuel power generators.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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