Important Considerations About Green Energy And Economy For Canada
The dwindling fossil fuel supply and the possible end of energy systems reliant upon them is of great concern to the world community. And in the midst of the global recession, the economies of individual nations as well as that of the global system are of paramount importance. That these two issues are of moment at this same time invites nations and businesses to to find ways for solutions to one to also provide solutions to the other. As a major global economic player, Canada also plays a role in this crisis of combining green energy and economy.
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.
Another cause for concern and research and development in renewable energy is the need to reduce carbon emissions in order to halt or slow climate change. The International Energy Agency calculates that the nations of the Major Economies Forum need to spend three to six times more per year than they are currently if they wish to reach their goal of fifty percent reduction in emissions from 2005 levels by 2050.
A notable initiative toward that end is the development of procedures and technologies for carbon capture and storage. Canada has put itself forward as an innovator in this area of research and development and has committed some considerable amounts of money toward this end. But nations who are not yet fully sold on the necessity of curbing carbon emissions such as Australia and the USA still spend hundreds of millions more than the nineteen million spent by Canada.
Canada is already ahead of most nations in at least one area of renewable energy – hydroelectricity. The provinces of Labrador, Yukon, Manitoba and Quebec already get more than ninety percent of their power from hydroelectric dams. Nationwide, most of Canada’s electricity comes from these dams.
Canada has plentiful solar energy resources, particularly in Ontario, Quebec, and the Prairies. Although currently only a small part of Canada’s energy production, there is a solar power infrastructure in place mainly for non-electric space and water heating. Government studies show solar energy could account for five percent of energy needs by 2025.
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.
As for wind power, ninety-nine wind farms already give Canada 1.1 percent of its electricity. Per the Canadian Wind Energy Association, this can increase to 55,000 MW in fifteen years and provide for twenty percent of Canadian electric power.
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.
British Columbia is turning toward a green economy the creation of which has already produced 117,000 full time jobs and makes up over fifteen billion dollars of the province’s GDP. GLOBE Foundation of Canada has estimated British Columbia’s development of a renewable resource economy will make the province worth over twenty-seven billion dollars in ten years.
A great number of countries and markets are committing to a green market and economy. Canada demonstrates it has the resources and ability to do so as well.
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.