Obama On Board for Renewable Energy

President Barack Obama’s inauguration speech this week addressed his administration’s commitment to renewable energy.
“The path towards sustainable energy sources will be long and sometimes difficult, but America cannot resist this transition; we must lead it. We cannot cede to other nations the technology that will power new jobs and new industries – we must claim its promise.”
“We will respond to the threat of climate change, knowing that the failure to do so would betray our children and future generations.”

One response to “Obama On Board for Renewable Energy

  1. By 2020, Pembina Institute notes roughly 15% of Canada’s electrical generation capacity will be more than 40 years old. 42,000 MW of new electrical generation capacity will be required in Canada to replace capacity as older plants are decommissioned and to meet new demand offering a significant opportunity to transition to renewable energy sources.

    CanSia, a national trade association that represents approximately 650 solar energy companies, notes Canada’s solar industry has made remarkable gains in its relatively short history, working from the ground up. Canada’s energy mix is still exposed to the rising and more volatile prices of conventional fuel sources, whereas solar prices are expected to continue to fall to an expected range of $146 to $200 MWh by 2025. Wholesale power prices are forecast to rise driven by the rising long-term costs of fossil fuels, the costs of upgrading electricity grids and aging energy generation facilities. The market competitiveness of solar energy will only accelerate when the cost of carbon is reflected in the price of fossil fuels. Canada’s solar industry is well positioned to reach market parity faster than other countries.

    Thank you for the comment!

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