"Growth is top of mind for leading cleantech companies who are meeting the challenge of transitioning to a low-carbon and resource-efficient economy with proactive energy strategies involving the C-suite level," says Stephen Lewis, leader of Ernst & Young's Renewable Energy Advisory practice in Canada.
Those corporate energy strategies include improving energy efficiency to mitigate energy cost hikes, increasing the use of renewable energy and growing energy self-generation.
"From startups to large corporations and national governments, we're seeing more and more organizations worldwide embrace cleantech as a means of growth, efficiency and competitive advantage," says Lewis. "But only those with a comprehensive and diverse energy strategy will be able to take advantage of today's resource-constrained world."
Lewis adds that as resource constraints continue to challenge the global economy, the cleantech industry has the unique opportunity to transform markets dramatically in the next five years. Forecasts already predict robust growth across the Canadian renewable energy industry between now and 2015.
- British Columbia: Political risk surrounding rate sensitivity and future calls for projects;
- Alberta: Access to transmission and challenges in securing long-term power purchase agreements;
- Ontario: Access to transmission and the enactment of new feed-in tariff rules;
- Quebec: Ability for the Quebec government to continue stimulating its wind market;
- Nova Scotia: Access to transmission.
"A nationally integrated energy system can provide immunity to market price volatility and safety from security threats, while allowing Canada to export its energy raw materials rather than consume them domestically."
The full report is available here: http://www.ey.com/Publication/vwLUAssets/Renewable_energy_country_attractiveness_indices_-_Issue_33/$FILE/EY_RECAI_issue_33.pdf
Source: Ernst & Young Renewable Energy Country Attractiveness Indices, Ernst & Young Press Release