Friday, June 10, 2011

Wind energy in Ontario a significant investment draw and employment engine

The development of wind energy in the Canadian province of Ontario will generate more than 80,000 person-years of employment and attract more than $16 billion CAD in private-sector investment over the next eight years, according to a recent report by renewable energy market research and advisory firm ClearSky Advisors. The report, which was commissioned by the Canadian Wind Energy Association (CANWEA), was based on a quantification of the economic benefits of the projected growth in Ontario’s wind power market from 1,428 megawatts (MW) at the end of 2010 to more than 7,100 MW by 2018. Ontario’s Green Energy and Economy Act, feed-in-tariff and Long-Term Energy Plan “have opened up the market in Ontario for wind energy and will allow faster growth than otherwise would be the case,” said Tim Wohlgemut, a ClearSky principal consultant and co-founder. “Ontario has been put on the global map for renewable energy development, and this has the potential to create a significant number of highly skilled jobs and attract billions in investment to the province.” About 2,125 MW of wind energy projects in Ontario have already been signed and are expected to be constructed during the period covered by the report.

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