The global economic crisis has the world community working to improve their economies and as they do so they must keep an eye to the global economy if they wish their economy to truly thrive after recovery. In tandem with the economic crash another crisis looms - that of dwindling fossil energy sources and climate change. Many nations and groups see renewable - "green" - energy and the industries built around it as a solution to economic depression; in other words, Green Energy and economy. Canada, in particular, is one of these nations.
In 2008 more money was invested in renewable energy, worldwide, than the total investment in nuclear, coal and natural gas electricity. 148 billion US dollars were invested in green energy projects across the world. This investment trend continues today and it stands to reason then that nations who develop green energy will be in the market for this capital. Canada will need to look to its available resources and needs if it wishes to maintain its strong position in the emerging global market, as most developed nations, especially Canada's neighbors, are working to attract this money for themselves.
For example, in the United States recent legislation outspends the Canadian Federal budget by fourteen times toward renewable energy.
Another cause for concern and research and development in renewable energy is the need to reduce carbon emissions in order to halt or slow climate change. The International Energy Agency calculates that the nations of the Major Economies Forum need to spend three to six times more per year than they are currently if they wish to reach their goal of fifty percent reduction in emissions from 2005 levels by 2050.
Canada has stated that it favors research into the capture and storage of carbon emissions. The government also claims to be investing heavily into the necessary Research and Development toward that end. However, in comparison, the United States and Australia, both of whom have an ambivalent attitude toward the reality of global warming, still spend hundreds of millions of dollars more yearly than Canada.
Right now Canada has a strong head start from which to develop an renewable energy economy and infrastructure. The majority of Canada's electricity is generated by hydroelectric dams. In Quebec, Labrador, Yukon and Manitoba nearly all electricity is hydroelectric.
It is noted that Ontario, Quebec and the Prairies region of Canada are regions with strong potential for Solar Power. Canada does not yet use much Solar Energy to produce electricity, though its government has produced studies showing this could change by 2025, with solar power providing 5 percent of electricity by then. Canada does use solar power more regularly for heating buildings and water as well as drying lumber and crops.
Canada has stretches of territory that are sparsely populated. Many others are difficult to access and so are off the country's main energy grid. Photovoltaic cells are used as standalone units to insure that remote communities still have power. PV cells are batteries whose semiconductors directly generate electrical power when exposed to light. The only other option is to use costly standalone diesel fuel systems to power crucial sources such as remote homes, telecommunications equipment and navigational devices.
Canada is beginning to increase its reliance on wind power. There are already ninety-nine Wind Farms generating a little over one percent of Canadian electricity. According to the Canadian Wind Energy Association, the building of new wind farms could allow the country to reach 55,000 MW by 2025. That is twenty percent of Canada's energy requirements.
Ontario is a demonstrative case of how new energy initiatives in Canada can enhance the economy. They recently passed the Green Energy and Green Economy Act of 2009. One of the provisions of the act is to offer low- or no-interest loans to homeowners in order to pay for the cost of using renewable alternative energy generators and to make their homes more energy efficient.
British Columbia is turning toward a green economy the creation of which has already produced 117,000 full time jobs and makes up over fifteen billion dollars of the province's GDP. GLOBE Foundation of Canada has estimated British Columbia's development of a renewable resource economy will make the province worth over twenty-seven billion dollars in ten years.
A great number of countries and markets are committing to a green market and economy. Canada demonstrates it has the resources and ability to do so as well.
Solar Power devices, green energy sources like the field of science is around every day. The children learn with fun optical equipment, telescopes and science lab equipment.