With the ever increasing price at the pumps, good news was recently published by The Pew Charitable Trusts. According to Pew’s latest Clean Energy Race Report, Canada placed 8th amongst the G20 countries for its investment in the clean energy sector in 2009.
Key highlights include:
- G20 countries’ investment in clean technologies make up for 90% of the global total.
- China leads 1st with $34.6 billion invested while US slips into 2nd place at $18.6 billion. Canada ranked 8th, investing $3.3 billion.
- Canada makes up for 2.9% of G20’s total investments in clean energy, with a 5-year growth rate of 70.2%.
- As of 2009, Canada has a total renewable energy capacity of 7.6GW, making up 4.3% of its total power capacity. Wind and small-hydro are key renewable energy sectors in Canada generating 3,056MV and 2,000MV respectively.
- Future growth would likely be in wind, solar, and biomass because of subsidies and preferential loans.
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