Published: Sun, May 07, 2017
Sci-tech | By Jackie Newman

ARENA switches to new power plan

ARENA switches to new power plan

According to a new report released by the National Energy Board of Canada on Tuesday, two-thirds of Canada's electricity supply came from renewable sources in 2015.

"We want to demonstrate how renewable energy can add value to the electricity system while also minimising costs and maintaining security and reliability".

Canada generated about 60 per cent of its electricity from hydro power in 2015, accounting for about 10 per cent of global generation of hydro-electricity that year, says the report Canada's hydro power generation is second only to China.

The portion of all electricity in Canada produced by renewable energy sources is now 66 per cent, up from 60 per cent a decade earlier.

Large-scale renewable energy investment was five times greater than it was in 2015. The Ministry of New & Renewable Energy has yet to report the figures on its own website, but it has communicated the same to the CEA. One terawatt hour is enough to provide 80,000 homes with electricity for a year.

Together they make a total of 3,554MW, putting the country well within reach of the 2020 renewable energy target of 33,000GWh, a total that is expected to require between 5,000 and 6,000MW of large scale renewable energy capacity, depending on how much is wind and how much is solar.

The funding for renewable projects will be provided under the plan called Innovating Energy, helping the country to shift to a low emission economy.

ARENA switches to new power plan
Hydro power leads Canada's renewable energy generation

The report, titled Canada's Adoption of Renewable Power Sources, provides direct comparisons of how Canada ranks internationally for renewable power adoption.

Pictured is the Darling Wind Farm on the Western Cape coast.

Biomass electricity, which is mostly attributed to burning wood pellets, peat, and wood chips provided about 2 percent of Canada's electricity.

The report also notes that every Canadian province and territory (except Nunavut) generated at least some power from wind energy in 2015. On average, equities analysts anticipate that Renewable Energy Group Inc will post $1.18 earnings per share for the current fiscal year.

"Canada's hydro generation has allowed the country to be one of the global leaders in renewable energy for years. Now, as solar, wind and other technologies become more cost-competitive, we expect to see a continuing increase in their adoption in the future", said Shelley Milutinovic, the NEB's Chief Economist.

United Renewable Energy LLC has completed construction of the first Community Solar Project interconnected to National Grid in NY state.

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