Renewable Power in Canada - Industry Market Research Report

Renewable Power in Canada

Over the five years to 2019, the Renewable Power industry in Canada has grown slowly, with fairly weak demand counteracted by steady increases in electricity rate prices. While the industry has benefited from an improving economy industrial output has only risen weakly. Hydroelectric generation has been the dominant source of renewable power for decades. Over the past five years, advancements in wind, solar and biomass technologies have made them less expensive. Coupled with favourable government funding, this has led to increased power generation and growth in nonhydroelectric renewables. The industry is expected to benefit from stronger commodity prices, which alongside increased consumer spending, will likely stimulate demand from industrial and commercial sources. Further, as the country phases out coal-fired power generation, demand for energy from other renewable sources is expected to increases.

This industry generates power by harnessing resources that are replenished naturally. Industry facilities include hydro, solar, wind, geothermal, biomass and other types of power plants that use renewable energy. Renewable power typically emits fewer pollutants than fossil fuel power generators.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.