Showing posts with label Canada Wind Power Market Overview. Show all posts
Showing posts with label Canada Wind Power Market Overview. Show all posts

Wednesday, August 1, 2018

Sizing The Wind Power Energy Market In Canada: Ken Research


Ontario’s wind energy potential has attracted many companies who have invested huge amount into the wind energy generation sector. The companies have invested a large amount which has resulted in huge employment generation in the country. According to the study, ‘Wind Power In Canada, Market Outlook To 2030, Update 2018 - Capacity, Generation, Investment Trends, Regulations And Company Profiles’, some of the companies that have entered this segment include of wind power generation include TransAlta Renewables Inc., Kruger Energy Inc., Invenergy LLC, Innergex Renewable Energy Inc., Capital Power Corporation, Brookfield Renewable Energy Partners, L.P. and Boralex Inc. These companies have been functioning for a long period of time investing money into technological upgradation trying to bring in new advancements which ensure cost effectiveness and efficiency.
The world is witnessing a constant degradation in the environmental condition across the globe. In hoping to make the world a better place for humans, many countries are aggressively promoting energy development via renewable forms of energy and shifting away from the development of energy via conventional methods such as oil and industry. Canada is one of the leading industrialized nations which have been leading this transition from. Canada is ranked in top 10 countries with the largest wind power installed capacity. Within Canada, Ontario is the leading region with maximum wind energy installed capacity. In Ontario, recent data has proven that electricity generated via coal is less than energy that is generated using coal making it the first region in North America to do so.
The industry has been able to create many jobs in areas like Windsor, Tillsonburg and Niagra and more are being created as the supply chain of the industry expands further in the future. Ontario issues a new competitive procurement programme which considers inputs from stakeholders, municipalities, and aboriginal committees which helps the government to decide on suitable location for wind energy projects. Also, helps to realise untapped potential for other large scale renewable energy generation. The Long Term Energy Plan in Ontario has a specific set target of wind energy production which needs to be achieved in a set time frame.
The cost certainty and cost competitiveness of the wind energy supply is a security that is being provided to the ratepayers as well as the tax payers. The wind energy generation also ensures huge benefits not just to the environment but also to entire communities by ensuring safety of health. It is not wrong to say that the new nuclear energy is expensive as compared to the wind energy. Wind energy is also in a strong price competition with cost effective hydro energy. The cost of electricity generated via hydro projects and nuclear power is continuously rising over the past few years, while on the other hand as technologies are being developed further, the cost of setting up wind turbines is constantly falling. Also, the concept of economies of scale reduces the production and supply costs.
The competitive landscape of this industry is very tight considering that most of the companies that are currently in the market possess huge financial capabilities and the companies that seek to enter this market need to develop new technologies that significantly reduces the cost and improves efficiency.
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