Canada Keeps a Low Profile at International Renewable Energy Conference

Posted by admin on 3/10/08 • Categorized as Conferences, Renewable Energy

From March 3-6, 2008 ministers from around the globe along with 9000 other delegates met in Washington to discuss ways of scaling up renewable energy. At the Washington Renewable Energy Conference (WIREC) —the largest renewable energy conference ever held—each country was asked to make major new policy commitments that will support new investment in renewable energy technology. A parallel business conference and trade show illustrated the latest renewable energy technologies.Investors love the low risk, fast pay back from renewable energy projects which can be installed quickly and do not depend on future fuel prices.

Key conclusions from WIREC included:

Deployment of renewable energy is expanding globally much faster than expected, with 2007 investments topping $100 Billion.

Renewable energy technology can be deployed quickly and reduce greenhouse gases immediately, while alternatives like nuclear and carbon capture will take a decade.

It is not the lack of capital that is holding renewable energy back. Investors are flocking to the sector because of its low risk relative to energy sources that depend on fuel prices or have long term waste problems.

Long term stable policies and price signals are imperative for any significant renewable energy market to evolve.

The most effective long term policy for the power and heat sectors is the guaranteed fixed price/priority grid access feed-in tariff policy.

The food versus fuel land use concerns about bio-fuels are real but can be managed through enforcement of strict criteria and regulations.

Canada is lagging behind the rest of the world on the use of renewable energy, yet it has more renewable energy resources than most other countries. The lack of a strong Canadian commitment to renewable energy is a huge lost opportunity. We are missing out on the fastest growing energy source of the 21st century and one of the best ways to tackle global warming. Instead Canada chooses to support unreliable and environmentally problematic technologies like nuclear energy as well as unproven technologies like carbon capture and storage.

Read the report on WIREC by CanREA member Roger Peters from the Pembina Institute.
Download the CanREA media release calling on Canada to make new commitments at WIREC.
Download the background document describing how far Canada lags behind other countries.
Read the WIREC conference summary notes. March 4-6, 2008