Renewable Energy
The energy mix of most nations in the world has become dominated by fossil fuels since the Industrial Revolution. This has significant ramifications for the worldwide environment, as well as for the human well-being. In order to reduce Carbon Dioxide emissions and air pollutions, the world must quickly shift towards low-carbon sources of energy i.e. nuclear & renewable technologies. Renewable energy will have a vital part to play in the de-carbonization of our energy frameworks in the coming years.
Renewable Energy Outlook in Canada
​Blessed with huge landmass and diversified geography, Canada has a wealth of renewable resources that can be utilized to produce energy. Canada is a world forerunner in the production and utilization of energy from sustainable resources. At present, renewable energy provide around 18.9 percent of Canada's total primary energy supply. The main renewable energy sources in Canada contributing to Canada’s electricity generation are flowing water (59.3%), wind (3.5%) and biomass (1.4%). Canada is the world’s second biggest producer of hydroelectricity. Wind and sun oriented photovoltaic energy are the fastest growing resources of electricity in Canada. The wind and solar energy resources in Canada are vastly untapped and yet Canada has already been ranked as one of the largest producers of wind and solar energy. As per the Bloomberg report, 77% of world investment in power generation from now to 2050 will be in wind, solar and energy storage. These will be at the core of Canada’s energy transition offering most affordable resource for electricity in Canada.
Renewable Energy in the United States
The United States is home to a flourishing renewable energy sector, having firms in all technology subsectors such as solar, wind, hydropower, bio-fuels, biomass and geothermal sectors. At present, US have the most geothermal capacity (3.7 GW) of any country. They have the 2nd biggest breeze limit (97.2 GW) and the 3rd biggest bio-energy limit (14.2 GW). Moreover, they have the 2nd biggest sun based limit (67 GW) and second-biggest hydropower limit (102.1 GW). According to the estimation by the Department of Energy, renewable energy can possibly generate about 80% of U.S. electricity by the year 2050. In the year 2019, EY placed the United States as the 2nd most attractive country for renewable energy investment.