By Roy L Hales

According Clean Energy Canada’s report Tracking the Energy Revolution, last year there were more Canadians working directly in clean energy jobs – such as efficiency, clean transportation, biofuels, wind and solar energy –  than were directly employed in the oil sands. Roughly $6.5 Billion US was invested in this nation’s clean energy sector. Only  four of the five principal investment firms are either German or Japanese. Renewables are big business in Canada and getting bigger.

A Wake Up Call To Bay Street

Clean Energy Canada’s director, Merran Smith, referred to the foreign investment as “a wake-up call to Bay Street (Toronto’s financial district).

“Foreigners are seeing the potential in our clean energy. Canada has a significant clean energy resource and we should be investing in it,” she said.

Global investments in the clean energy sector were  close to those in fossil fuels. The biggest investors, the US and China, are also our largest trading partners. They are buying our fossil fuels right now, but setting themselves up to be powered by clean energy in the future.

Federal Government had done little

The tax incentives and research support that Ottawa provided the oil sands in the 1990’s enabled it to become what it is today. The Canadian government is still providing millions of dollars every year.

So far, the Federal Government had done little to help the Clean Tech sector.

Clean Energy Canada is suggesting they adopt three policies

1. As regards incentives, Level the playing field between renewables and fossil fuels. Canada could start by giving favourable tax treatment to power storage and solar technologies in the 2015 budget.
2.  Establish a clean energy fund for: speeding up the upgrades to transmission lines; smart grids; building an infrastructure for EVs; clean energy projects
3. Join the 73 nations – as well as the provinces of Alberta, Quebec and BC – that have put a price on carbon pullution 

These are just a few of the topics that Merran Smith,Clean Energy Canada’s director,  discussed in the radio interview you can listen to below.

Click on this link to listen to ECO Report Radio’s interview with Merran Smith.