Around two thirds of Canada's electricity in 2015 was generated using renewable sources, with hydropower accounting for roughly 60 percent, according to a report from the country's National Energy Board (NEB). It also covers factors that affect the uptake of each renewable source, including financial costs, reliability and environmental impacts.
In its report, the NEB said: "About 60 per cent of Canadian electricity came from hydro power in 2015, typically from large facilities with reservoirs".
Things are dramatically different on the U.S. side of the border, where renewable energy accounted for just 11% of energy produced domestically in the U.S.in 2015, according to the U.S. Energy Information Administration. Canaccord Genuity reissued a "hold" rating on shares of Renewable Energy Group in a report on Thursday, March 2nd.
Specifically, wind power accounted for 4.4 per cent, biomass 1.9 per cent and solar power 0.5 per cent.
Canada's electricity generation per capita is relatively high.
These projects include several projects, such as the Hornsdale 2 and 3, and the Kiata wind farms, that were commissioned by the ACT government for its 100 per cent renewable energy target and will be over and above the federal RET.
"As Australia shifts from fossil fuel generation to a low emission energy system with more renewables and more distributed energy resources, we need to make sure energy is secure, reliable and affordable", Mr Frischknecht said.
The report, titled Canada's Adoption of Renewable Power Sources, provides direct comparisons of how Canada ranks internationally for renewable power adoption.
Canada is the seventh-largest producer of wind power in the world.
Biomass provided about 2 per cent of Canada's electricity generation in 2015. The widespread adoption of wind power generation is still a challenge because of its intermittency, but the report suggests that the fluctuations could be overcome by trading electricity with neighboring jurisdictions.
She went on to say: "Now, as solar, wind and other technologies become more cost competitive, we expect to see a continuing increase in their adoption in the future".
He said the new plan, entitled Innovating Energy, set our four new priorities: Delivering a secure and reliable electricity system; Accelerating solar photovoltaic innovation; Improving energy productivity; and Exporting renewable energy.
- Shelley Milutinovic, Chief Economist, National Energy Board.