Canada Must Prepare Now For The Post-Carbon Economy

Canada Must Prepare Now For The Post-Carbon Economy - Companies Featured Graphene

National Association News Today:

Last week, TransCanada Corp. aborted the $15.7-billion East Pipeline project citing regulatory hurdles. Despite the $1-billion loss, the company made a wise decision. It is unlikely TransCanada could have earned a significant return on its investment.

The economics of energy cannot be denied: We are entering a post-carbon economy. The energy transition is underway. The question is, how will Canada’s economy continue to thrive?

Canada’s largest still depend on hydrocarbon value chains. But unsubsidized and wind energy are now cheaper than coal, oil, and even natural gas, according to Lazard. Indeed, on Oct. 4, the International Energy Agency (IEA) released a new report showing that worldwide solar capacity grew 50 per cent in 2016, faster than any other fuel source. The IEA notes that “…contract prices for solar PV and wind power purchase agreements are increasingly comparable or lower than generation cost of newly built gas and coal power plants.”

The full story is available below.

SourceThe Globe and Mail