A Year for the Clean Energy Canada Realizing solutions

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A Year for the Record Books Cover photo Workers assemble a large. Tracking the Energy Revolution Global 2016 edition solar panel array at India s Gujarat solar. park In 2015 India regained fifth place, February 2016 globally for clean energy investment and. has set aggressive targets to produce, 2016 Clean Energy Canada more clean energy in the years ahead. ISBN 978 0 9950609 0 6 Credit Sam Panthaky AFP Getty. All rights reserved Permission is granted to reproduce all or part of this publication for. non commercial purposes as long as the source is cited as Clean Energy Canada. Photo opposite Green Energy Project, Available digitally at www cleanenergycanada org in Bhutan. Design GOOD Company An Asian Development Bank ADB,green energy project that brings greater. Source Data electrification to rural households in. All data referenced are from Bloomberg New Energy Finance unless otherwise indicated Bhutan and boosts access to green. power in neighboring India, and accurate as of February 24 2016 Financial estimates are based on 2015 US dollars.
unless otherwise indicated Credit Asian Development Bank Flickr. About Clean Energy Canada, Clean Energy Canada works to accelerate Canada s transition to a clean and renewable. energy system We collaborate with civil society governments and the private sector to. build awareness and support for solutions that address climate disruption and foster an. energy efficient environmentally responsible and prosperous economy. Clean Energy Canada is an initiative of the Centre for Dialogue at Simon Fraser University. Track the Energy CONTENTS, Revolution Foreword While Fossils Crash Clean Energy Soars 2. Each Monday we publish the Clean Energy Renewable Investment Sets New Record 5. Review a free weekly digest of must read Spotlight on Canada 5. climate and clean energy stories from across Following the Money 7. Canada and around the world,New Markets to Watch 7. Subscribe cleanenergycanada org review,Clean Technology Delivers More for Less 9. Follow cleanenergycan Growth at a Glance 9, Visit cleanenergycanada org Green is the New Black and it s Good Business 10.
Cities Commit to 100 Clean 10,Canadian Businesses Competing Abroad 11. Bringing the Energy Revolution Home 13,A Year for the Record Books. What is Clean Energy, Clean energy policies technologies or services accelerate the shift to an. economy based on renewable energy,The clean energy transition involves. Reducing Improving the,Increasing the Enabling market.
consumer and infrastructure,supply of penetration of. industrial and systems that,renewable clean energy. energy transmit store,energy solutions,demand and use energy. TRACKING THE ENERGY REVOLUTION GLOBAL 2016,While Fossils Crash. Clean Energy Soars,E nergy headlines in 2015 were,dominated by bad news Plunging.
oil prices Oil and gas companies,For big power consumers sourcing. renewable power can lock in future,savings from technologies whose. These global trends need to be on,the radar of Canadian business and. political leaders because they paint, scaling back investment Coal fuel wind sun water biomass a picture of great opportunity We can. companies going bankrupt Job losses and the earth s heat is free Clean lead or we can follow but we cannot. energy technology and service stand still, If it bleeds it leads companies see market opportunities.
There will continue to be markets for, Turmoil in fossil fuel markets led many opening up on every continent And. our fossil fuel resources for some, analysts to suggest clean energy a growing number of Canadian firms. time to come but their future is, investment would similarly stall out are putting skin in the game. increasingly uncertain It s clear where, How could renewable energy possibly the puck is going. compete with cheap oil gas and coal Other forces are also at play In. countries such as China and India Canada has tremendous renewable. delivering more power without adding energy resources and we have been. But clean energy did to the smog that already chokes big a leader in capitalizing on them. compete and it won cities is paramount In the United We have fostered renewable power. States climate action is driving a developers clean energy technology. Once again more shift from coal fired power to clean and service providers The challenge. money flowed into new energy African countries including now is to translate this domestic. South Africa are delivering power success into global success And the. renewable electricity to communities for the first time clock is ticking. than new power from and want to avoid the expense of a. fossil fuels centralized grid Around the world,the growing cost competitiveness of.
clean energy makes it an easier and,A record US 367 billion was invested. easier choice Merran Smith, in renewable power in 2015 a third of Executive Director. a trillion dollars That s serious money, Clean energy is going mainstream Clean Energy Canada. Clean energy has real momentum and, the commitments underpinning the Globally 96 cities states and even. Paris Agreement on climate change countries have set ambitious targets to. will keep that momentum going achieve up to 100 per cent renewable. energy And it isn t just governments,some of the world s largest and most.
There s money to be made and,recognized companies are committing. money to be saved For renewable,to and securing 100 per cent. power developers declining,renewable power,technology and financing costs. mean the profits are getting fatter,2015 marked the first. year in which more,money was invested,in clean energy in.
developing countries,than in developed ones, Photo Indian workers construct part of the France India Solar Direct Punjab Solar Park. project in Muradwala India,Credit Narinder Nanu AFP Getty Images. TRACKING THE ENERGY REVOLUTION GLOBAL 2016,The electricity system is. shifting to clean Despite,the change in oil and gas. prices there is going,to be a substantial,buildout of renewable.
energy that is likely,to be an order of,magnitude larger. than the buildout,of coal and gas,Michael Liebreich chairman of the advisory board. at Bloomberg New Energy Finance April 2015,A Year for the Record Books. Investment in Renewables,Sets New Record, Beating even bullish projections global investment. in clean energy hit a new record in 2015 Spotlight. More than a third of a trillion dollars US 367 billion to be precise was on Canada. invested around the world last year a healthy seven per cent increase over 2014. Continuing recent trends China the United States and Japan were dominant. together making well over half of that investment,TOTAL ANNUAL CLEAN ENERGY INVESTMENT.
While Canada retained its,300 eighth place ranking for clean. energy investment 2015,totals were down 46 per cent. Billions USD,from 2014 dropping to,200 US 4 billion Why. Canada has a patchwork of,provincial renewable power. policies varying from province,to province and these policies.
haven t provided long term,certainty The country has. also suffered from a lack of, 2011 2012 2013 2014 2015 overarching federal policy. support pipelines trumped,Solar Wind Large Hydro Biomass Waste. powerlines as a national,Small Hydro 50MW Geothermal Marine. priority But there was good,news late in 2015 Alberta.
and Saskatchewan both,announced targets to increase. their production of renewable,power and the newly elected. Photo opposite Michael Liebreich June 2015 federal government has. Credit Chatham House Flickr indicated that getting more. Photo sidebar Alberta Premier Rachel Notley exits the front doors of the legislature in clean energy on the grid is. Edmonton a priority,Credit Government of Alberta Flickr. TRACKING THE ENERGY REVOLUTION GLOBAL 2016, 2015 Global INVESTMENT USD IN RENEWABLE ENERGY BY TECHNOLOGY. Large Hydro,42 Geothermal,Biomass Waste,161 Billion.
Small Hydro,Billion 6 Billion,India regained fifth spot globally. for investment in 2015 and,appears poised to rise in the ranks. as a clean energy investment,destination The government of. Prime Minister Narendra Modi has,set incredibly aggressive targets. aiming to deliver 175 GW of new,renewable power to the grid by.
2022 a five fold increase,Photo Meenakshi Dewan tends. to maintenance work on the solar,street lighting in her village of. Tinginaput India Huge pylons run,across these hills supplying power. to the big cities but rural areas,like this are not connected to the. Credit DFID UK Department for,International Development Flickr.
A Year for the Record Books,Following The Money,CHANGE IN CLEAN ENERGY INVESTMENT 2014 2015. 23 23 China,USA 17 Japan,Global Rank Country Amount Invested in 2015. 1st China 110 5bn,2nd United States 56 0bn,3rd Japan 43 6bn. 4th United Kingdom 23 4bn,5th India 10 9bn,8th Canada 4 0bn. New Markets to Watch, 2015 also brought a geographical broadening of clean energy as more.
developing countries got in on the action In fact 2015 marked the first 4 2bn. year in which more money was invested in clean energy in developing 114. countries than in developed ones, The Middle East and Africa are two regions with significant clean energy. potential Both have growing populations and an abundance of solar. and wind resources In the Middle East 2015 was a breakout year for. renewable energy especially solar Dubai closed out 2015 by launching. South Africa, a strategy to produce three quarters of its energy from renewable. sources by 2050 Egypt Jordan and Morocco also moved forward with 4 5bn. ambitious plans to harness the region s abundant renewable energy 329. resources In Africa low rates of electricity access mean power systems. are being developed from scratch leading the Economist to suggest Morocco. Africa could leap ahead as one of the world s leading producers of 2 0bn. clean energy In 2015 Africa and the Middle East had combined clean from 0. energy investment of 13 4 billion up 54 per cent over 2014. All figures in US,TRACKING THE ENERGY REVOLUTION GLOBAL 2016. We have this handy fusion,reactor in the sky called. the sun You don t,have to do,It just works,It shows up.
and produces,ridiculous, Elon Musk CEO of Tesla Motors and Chairman of SolarCity. A Year for the Record Books,Clean Technology Delivers. More for Less, In a year in which the world was reminded of the volatility of fossil fuel markets. the high highs the low lows and the speed of change between them renewable. energy technology costs continued to decline, A fundamental benefit of clean energy increasing competitiveness with. technologies like other technologies fossil fuels,is that they follow relatively.
wind energy In the utility scale,U S over the last six years. predictable experience curves,wind and PV,solar photovoltaic PV at a Glance. As production and,systems have become increasingly. cost competitive without subsidies, experience scale up thanks to improved efficiency and. Wind power, costs come down a material drop in the costs of deployment led the.
components like panels inverters way up 31 in,When you couple those declining. costs with free fuel from the wind 82,and turbines The unsubsidized cost. of wind energy is down 61 per cent,2015 compared to. the previous year with, sun water biomass and the earth s since 2009 and utility scale solar nearly 64 gigawatts. heat you have a formula for ever PV is down 82 per cent GW installed. Drop in renewable energy technology costs Solar,deployment.
just keeps,Levelized Cost of Energy US Mwh,growing up. ity sc 2014 and,ale up 96 since 2011 far and,ar P away the greatest growth. V rate in the sector,costs down,ener 82 Hydro continues. to be the world s,costs down dominant,61 renewable. power resource,59 followed by, SOURCE Lazard s Levelized Cost of Energy Analysis Version 9 0 2015 wind 22 and.
Photo opposite Elon Musk serial entrepreneur speaks at TED2013. in Long Beach California,Credit James Duncan Davidson. TRACKING THE ENERGY REVOLUTION GLOBAL 2016,Green is the New Black. and it s Good Business,Around the world governments and businesses. alike are making big commitments to clean energy Cities Commit. The private sector uses about half of the electricity to 100 Clean. produced globally so when companies choose Cities have also stepped up. with plans to achieve 100 per, to switch to renewable power it can t help but cent renewable power from. accelerate the transition of global energy markets Aspen to Oslo Vancouver to. Stockholm More than half of, Business initiatives like the RE100 a collection of big the world s population live in.
businesses committed to source 100 per cent of their cities In Canada that figure. rises to more than 80 per, power from renewables are picking up steam cent And the world s cities. are growing fast, To help companies deliver on these commitments in the United States the. Rocky Mountain Institute launched the Business Renewables Centre in 2015 Powering the needs of these. Its mandate is to help streamline and accelerate corporate procurement of wind cities poses a challenge but. A YEAR FOR THE RECORD BOOkS 7 China Japan India Canada 23 17 UK 23 46 USA 7 3 change in clean energy inveSTMenT 2014 2015 new MarkeTS To waTch 2015 also brought a geographical broadening of clean energy as more developing countries got in on the action In fact 2015 marked the first year in which more money was invested in clean

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