Monday, October 30, 2006

Clean energy neighbours, eh

That's right: The Canadian wind energy industry is thriving, but slow action from the federal government has some investors and companies moving hesitantly in an uncertain market.

Like the U.S., rural Canadian communities are harnessing local wind resources to spur economic growth. So far nearly $1 billion (USD) has been invested in the Canadian wind energy market (compared to nearly $3 billion USD in 2005 alone in the U.S.). But no funds for wind energy have come out of the federal government since April, raising concerns about the stability of the sector.

Canadian government incentives and policies have been critical in getting the wind energy industry off the ground. But Prime Minister Stephen Harper's administration has been slow with the needed funds to continue provincial projects. Besides stalling the wind, the delay sends negative signals to potential investors, manufacturing facilities, and future projects.

However, the
Canadian Wind Energy Association (CanWEA) believes that the government's emerging environmental agenda should end the policy uncertainty and support Canada's rapidly developing wind industry. Over the next decade, provincial governments plan a 10-fold increase in wind energy. Now there's a reason to raise your Molson.

No comments: