THIS WEEK
Bitcoin threatens to blow up the atmosphere, Alberta silences the renewable energy haters, and we share a few pointers on how Canada can zoom to the front of the electric car pack.
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POWER GENERATION
Alberta rides into wind energy history
For those who thought wind energy would never compete with coal and natural gas in Alberta on cost, well, think again.
On Thursday, the province's electricity system operator revealed the three winners of its first auction for new renewable energy capacity. Those attending the announcement gasped when the government announced the rock-bottom rate it would pay proponents: 3.7 cents per Kilowatt hour. Not only is the rate much lower than expected, it is half the cost of new natural gas generation, the next-cheapest option for new electricity plants. It's also half the price of Alberta's 10-year average market price.
The four approved wind farms will bring 600 MW of emissions-free electricity online, and represent the first big piece of the province's plan to phase out coal and bring 30 per cent renewable energy to the grid by 2030. Our take: the results prove that renewable power can deliver the cheapest electricity for Alberta. (Coverage: Bloomberg, CBC News, iPolitics, Edmonton Journal.)
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It's time to get serious about electric vehicles
The global shift to electric cars is well underway—bringing with it big changes for drivers, industries and governments around the world. Alas, Canada is looking the other way. Our new report, Stuck in Neutral, outlines the problem, and presents the policies that would propel our nation to the front of the pack. As shown below, we really need to tackle supply; there just aren't enough cars available. (Related: "Small Canadian miners in pole position for electric vehicle battery boom".)
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Is B.C.’s Site C project an electrification engine?
Energy experts—including those hired by us—have long suggested that electrifying B.C.'s economy would require vast amounts of new non-emitting electricity. But few policy makers had publicly pitched Site C as a means to that end. Until now.
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Ottawa chides Canadian coal power backers
A new report flagged that six Canadian financial companies and pension funds have together kicked in $2.9 billion to finance new overseas coal power plants. And this past week, Canada's Minister of Environment and Climate Change called them out.
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Raconteur, a publisher and "thought leadership agency" based in the United Kingdom, produced this dazzling visualization of global investments in—and utilization of—renewable energy. Click or tap the image to pop open the full version, but note that you really need a fair bit of screen real estate to appreciate it.
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New Clean Fuel Standard charts the right course
Ottawa's new Clean Fuel Standard regulatory framework is out—and it's looking good. In the words of our senior analyst, Jeremy Moorhouse, "the framework charts the right course for developing the draft regulation over the coming months, making it clear that all fuels used in Canadian cars, homes and industry need to get cleaner over time."
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As cryptocurrencies boom, so does CO2
Global bitcoin mining is reportedly already consuming more electricity than Serbia. By July 2019, the peer-to-peer network could be sucking up more electricity each year than is consumed by—gulp!—the United States. This is not good at all, and there's no obvious way to stop it.
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Only policy will fix Canada's EV supply crunch
Another SFU report (in addition to ours) confirmed that a lack of electric car supply, limited availability and limitations in charging infrastructure are hamstringing Canadian EV sales. Only policy such as a ZEV mandate can fix the trouble, the researchers said.
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Feds invest $1B in efficiency, climate solutions
Over the coming five years, Ottawa will invest more than $1 billion from its Low Carbon Economy Leadership Fund in energy efficiency and climate action programs in B.C., Alberta, Ontario, Quebec, New Brunswick, and Nova Scotia. Sounds good to us!
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World Bank: No more credit for oil and gas
With very limited exceptions, the World Bank said it will stop lending developing nations money for oil and gas projects after 2019. President Jim Yong Kim said the bank will make exceptions for natural gas developments in the poorest countries that need the fuel to provide access to energy for its citizens.
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Congress preserves renewable power benefit
Congress reached a deal on Friday to preserve the tax credits that unlock about $12 billion worth of wind and solar project financing. The incentives had been threatened by a minimum tax on foreign transactions that had been tucked into the senate bill, a move that would have limited the amount companies could write off using tax credits.
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Clean Energy Review is sponsored in part by Genus Capital Management, a leading provider of fossil-fuel-free investments.
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Our new private Facebook group is now live! Join and share the group to connect with and support fellow Canadians powering our sustainable future.
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FRONT BURNER
GLOBE Forum and Innovation Expo 2018
March 14-16, 2018 | Vancouver
It bills itself as “The Leadership Summit for Sustainable Business.” More than 2,000 decision makers come together at the signature forum to share insights, find inspiration, make connections, and identify and advance clean-growth opportunities. Learn more.
April 4-27, 2018 | Ottawa
EV2018VÉ
Electric Mobility Canada's 9th annual national conference addresses all modes of ground electric transportation. It bills itself as “the most important and respected event in the EV industry in Canada.” Learn more.
April 10-11, 2018 | Vancouver
BC Power Symposium
The BC Power Symposium examines the province's place in national energy and greenhouse-gas reduction strategies, provincial climate change plans and their impact on power, IPP development, electrification, and Indigenous partnerships. Learn more.
June 16-21, 2018 | Vancouver
Resources for Future Generations 2018
This conference showcases advances in earth science, societal and technical innovation, and education that can change the course of history. Be part of the sustainable future by submitting an abstract. And make sure to check out the Mining for Clean Energy session. Learn more.
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IMAGE & MEDIA CREDITS
Featured photo: David Dodge, GreenEnergyFutures.ca
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