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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