|e/f = BMI estimate/forecast. Source: EIA, National sources, BMI|
|Generation, Non-Hydropower Renewables, TWh||30.261||32.300||33.431||34.430||35.330||35.993||36.639|
|Generation, Non-Hydropower Renewables, % y-o-y||11.017||6.739||3.501||2.988||2.615||1.876||1.794|
|Capacity, Non-Hydroelectric Renewables, MW||15,088.3||16,404.0||17,106.4||17,686.7||18,197.4||18,565.3||18,923.5|
|Capacity, Non-Hydroelectric Renewables, % y-o-y||13.6||8.7||4.3||3.4||2.9||2.0||1.9|
Latest Updates and Structural Trends
Non-Hydropower Renewables Capacity and Generation are expected to grow by 8.72% and 6.74% respectively in 2016, with our long-term solar and wind power forecasts significantly revised to account for the continuous absence of new and adequate policy support, particularly for the solar sector.
The new Canadian government is planning a national energy strategy to increase Canada's renewable energy share, as well as a Low Carbon Economy Trust to support emission reducing projects.
Investments in renewables plummeted by 46% y-o-y in 2015 to only USD4bn compared to investments in Canada's oil and gas industry of USD45bn (also down 40% from USD73bn in 2014).
In November 2015, Alberta and Saskatchewan have announced ambitious renewables targets of 30% and 50% respectively by 2030, as well as a comprehensive coal power retirement.
In August 2015, the government of Nova Scotia announced the termination of its Comfit Feed-in-Tariff program. Its success directly led to its termination as the province' national grid continued to struggle to deal with fast growing wind power levels. The government hence considered the goal of the programme reached.
The Canadian developer Atlantic Wind and Solar Inc announced the formation of a yieldco, Power 1 Inc, in May 2015, aimed at buying and holding its projects to provide a reliable yield from ongoing power sales.
The Canada Renewables Report researched at source contains BMI Research's assessment of the current renewables market in Canada. The report also contains historical data together with forecasts to end-2018 covering electricity generation (TWh) and electricity capacity (MW).
The renewables sectors covered in the report include Wind, Solar, Geothermal, Tidal and Wave, and Biomass (See Table of Contents for exact coverage). The report also features details on government green energy agendas and funding opportunities, as well as presenting a detailed list of key renewables projects currently being planned or undertaken in Canada, their capacity, the timeframe of construction and their current status.
The report discusses the various energy policies currently in force, including targets, subsidies and the relevant infrastructure developments or limitations which might impact on renewables growth, analysing the potential effects of regulatory changes in conjunction with the background macroeconomic outlook. Finally, there is a general overview of the competitive landscape in Canada, together with a detailed summary of the main utilities and manufacturers present and their business operations.
BMI's Canada Renewables Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with unique independent forecasts and competitive intelligence on the Canada renewables industry.
- Benchmark BMI's independent renewables industry forecasts for Canada to test other views - a key input for successful budgeting and planning in the renewables market.
- Target business opportunities and risks in the Canada renewables sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in the country.
BMI Industry View
Summary of BMI's key industry forecasts, views and trend analysis covering the renewables market in Canada, regulatory changes, major investments and projects and significant multinational and national company developments.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the renewables sector and within the broader political, economic and business environment.
BMI Industry Forecasts
Historic data series (2010-2012) and forecasts to end-2018 for electricity generation (TWh) and electricity generating capacity (MW) for each individual renewables sector present in the country.
These in turn are broken down into:
Electricity Generation: Overall capacity (TWh), growth % change year-on-year, KWh per capita, % of Total Non-Hydropower renewables generation, % of total electricity generation.
Electricity Capacity: Overall capacity (MW), growth % change year-on-year, % of non-hydroelectric renewables capacity and % of total capacity.
These forecasts are in turn supported by explicit assumptions, in conjunction with analysis of the key risks to the main forecast.
Business Environment Rankings
BMI's Renewables Business Environment Rankings provide fully comparable Risk-Reward Rankings aimed at investors in the regional renewables market.
The rankings methodology makes sophisticated use of various industry, economic and demographic data point.