Canada unveils plans to achieve a net-zero electricity grid by 2035, bolstering its commitment to combating climate change with green energy initiatives.
In a monumental push toward a greener future, Canada unveiled draft regulations this week geared towards realizing a net-zero electricity grid by the year 2035. This move highlights the nation's dedication to combating climate change, with more than 84% of the nation's current electricity supply already derived from non-emitting sources, including hydro, nuclear, and wind energy.
Set to eliminate over 340 megatons of greenhouse gas emissions between 2024 and 2050, these draft regulations aim to purge the carbon footprint of the remaining fraction of the grid. The announcement dovetails global efforts, as countries worldwide steer toward cleaner power, novel technologies, and a surge in electric vehicle adoption.
Of significance, the industrial arena is responding in kind: Volkswagen is in the midst of constructing one of the world's grandest battery production facilities, a decision influenced by Canada’s economical clean energy offerings.
The draft was championed by the Honourable Steven Guilbeault, Minister of Environment and Climate Change, and the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources.
A joint statement from the ministers emphasized the global strategic importance of clean energy. "Non-emitting power is swiftly becoming the international 'price of entry' for product marketing," they said, citing the announcement of the General Motors and South Korean POSCO Future M electric vehicle battery component facility in Bécancour, Quebec.
According to Environmental Leader, one of the key takeaways from the regulations hints at economic relief for the average Canadian, projecting around 12% energy savings by 2050. The federal plan encompasses over $40 billion in new tax credits and substantial investments, stimulating even more economic growth. Initiatives such as home retrofit programs and incentives for zero-emission vehicle purchases stand to augment savings for Canadians embracing clean energy.
He further emphasized the massive rewards awaiting, from job creation to improved air quality, and expressed the government's dedication to collaborating with all stakeholders to ensure reliable, affordable clean energy reaches every Canadian home.
Titled "Powering Canada Forward: Building a Clean, Affordable, and Reliable Electricity System for Every Region of Canada," the draft report celebrates Canada's achievements in clean energy. It underscores the nation's commitment and lays out plans for further incentives and support for non-emitting electricity production.Canada is gearing up for the launch of its Clean Energy Strategy in 2024, outlining the roadmap for a dependable, cost-effective, and non-emitting electricity grid. Meanwhile, the draft regulations will be available for public feedback, with a 75-day comment period commencing on August 19, 2023.
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