Green Energy And Economy And Their Relation To Canada

July 31, 2010 · Filed Under Energy

The global economic crisis has the world community working to improve their economies and as they do so they must keep an eye to the global economy if they wish their economy to truly thrive after recovery. In tandem with the economic crash another crisis looms – that of dwindling fossil energy sources and climate change. Many nations and groups see renewable – “green” – energy and the industries built around it as a solution to economic depression; in other words, green energy and economy. Canada, in particular, is one of these nations.

The combined world investment in natural gas, nuclear and coal powered electricity in 2008 was still smaller than the total investment the world’s nations and multinational corporations and organizations made in renewable energy. In fact, initiatives in green energy solutions attract nearly 148 billion US dollars per year. The largest shares of this money will end up with those nations who invest in and create renewable energy technology and thus nations that commit to green energy will have the advantage in the world economy. Canada is adjacent to one of the world’s economic powerhouses, the United States, and if it decides not to bring in investments in renewable energy, the US will.

For instance, the US has just invested almost 14 times as much money in green energy than Canada did in last year’s Federal budget.

Seen from another view, it is largely agreed that the global climate is in danger primarily as a result of carbon emissions. In order to combat global warming emissions will need to be reduced, and to remain competitive industry will have to find green energy solutions. The countries constituting the Major Economies Forum set a goal to reduce carbon emissions to fifty percent of their 2005 levels in forty years. The International Energy Agency estimates that they will have to spend three to six times more yearly than they are now if they want to achieve those numbers.

One notable R&D investment is that of carbon capture and storage. Canada claims to be strongly in favor of this and to be providing robust investment. However, nations who have not evinced a strong commitment to climate change such as the United States and Australia are still outspending Canada’s 19 million by hundreds of millions.

If Canada wishes to enter fully into the renewable energy economy, it already has a strong base from which to develop this capacity. Hydroelectric dams already produce most of Canada’s electricity. Quebec, Manitoba, Labrador, and Yukon produce over 90% of their electricity this way.

It is noted that Ontario, Quebec and the Prairies region of Canada are regions with strong potential for solar power. Canada does not yet use much solar energy to produce electricity, though its government has produced studies showing this could change by 2025, with solar power providing 5 percent of electricity by then. Canada does use solar power more regularly for heating buildings and water as well as drying lumber and crops.

Many areas of Canada are hard to reach and/or sparsely populated. Thus, they do not have easy access to the nation’s energy grid. Here solar power is already put to use through photovoltaic cells. PV cells, when exposed to light, use semiconductor materials to generate directly electric power. In the northern provinces and territory, they have are used as standalone units to distribute electricity, particularly for remote homes, telecommunications equipment and navigational devices. Because they replace the costly diesel fuel systems that used to provide this energy, they also benefit the economy of these areas.

Currently 1.1 percent of Canada’s electricity is produced by ninety-nine wind farms. The Canadian Wind Energy Association states it could reach a capacity of 55,000 MW by 2025, meeting 20 percent of Canada’s needs.

At the provincial level, some parts of Canada are already demonstrating the economy of renewable resources. Ontario recently passed the Green Energy and Green Economy Act of 2009. To give just one example of what the bill provides for, it will offer low- or no-interest loans to homeowners to purchase and install solar panels or other generators of renewable energy.

Further west, in British Columbia, the push to change to a green economy has produced 117,000 full time jobs and contributed fifteen billion dollars to the province’s GDP. Per the GLOBE Foundation of Canada, this initiative may be worth over twenty-seven billion dollars by 2020.

However the debate in government and amongst citizens goes, it is clear that Canada has plenty natural energy, has proven skilled at creating energy systems that harvest it and in some provinces has already shown economic growth as a result of developments in green alternative energy and economy.

Solar Power devices, green energy sources like the field of science is around every day. The children learn with fun optical equipment, telescopes and science lab equipment.