BMI View: Although wind power remains the largest sub-sector of the Canadian non-hydro renewables market, we foresee a solid increase in solar generation capacity for 2015, followed by years of steady growth. Nonetheless, as the overall market continues to suffer from the lack of a central national support scheme, we do not see the country achieving its self-imposed emission reduction targets and also had to revise down our ten-year forecast for non-hydro renewable growth. Low oil prices and little public support are further aspects weighing on incentives to exhaust Canada's true renewables potential .
Canada boasts vast wind resources and an even greater potential for all types of renewable energy, as well as a national target to overcome coal fired electricity generation and reduce the country's overall emissions. However, the country also suffers from a patchy commitment through jurisdictional fragmentation between the central government and the country's provinces; while Ottawa provides overall emissions targets, competencies over the precise energy mix lie with the provincial governments. This has led to distinctive differences in governmental support of renewables among the provinces, in addition to the country's general high reliance on oil and gas as a major source of wealth and huge hydro electrical capacity.
Canada does nonetheless provide excellent investment opportunities, especially in the emerging in-stream tidal sector and wind, though is a laggard in adopting other renewable technologies at scale.
Non-hydro renewable power generation is forecast to rise at a solid rate of 7% in 2015. However, this is starting from a very low point. Only around 3% of all electrical generation in Canada will come from non-hydro renewables in 2015, only slowly closing in on the 5% mark by the end of our forecast period in 2024. Most of that capacity is from wind, although there is a relatively good potential for solar and stream tidal to begin making a...
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.