Taking charge By Robert Hornung
ELECTRICITY CONSUMERS WANT MORE RENEWABLE ENERGY Wind energy, solar energy, and energy storage, working together, will be at the core of Canada’s energy transition. One key reason for this is the fact that electricity consumers—corporations, governments, households, and small businesses—have an increasing interest in renewable energy. Why renewables? They offer a mix of low costs, important environmental benefits, and increased energy independence.
CORPORATIONS: AN EMERGING DRIVER OF RENEWABLE-ENERGY GROWTH
through which commercial or industrial customers buy renewable power from renewable generators at an agreed-upon price. “Renewable power,” in this case, can include both the renewable attribute (either an offset or a credit) and the electricity itself.
THIS TREND IS EVIDENT IN CANADA, BUT ON A SMALLER SCALE Since 2020, Alberta’s deregulated electricity market has seen a flurry of new deal announcements, including PPA contracts involving CanREA members, stimulating about 1,500
Where there is no option to purchase
MW of new wind and solar energy
renewable energy, corporations
development, according to Business
may purchase renewable attributes
Renewables Centre-Canada.
produced elsewhere, and by doing so, enable more renewable power production.
Regulated electricity markets are also responding to growing corporate demand for renewables. The Green
In 2015, corporate PPAs facilitated
Choice Program in Nova Scotia, for
the deployment of 4.7 GW of new
instance, will enable government,
renewable energy worldwide. By 2020,
businesses, and institutions to
A growing number of corporations
that number had increased to 23.7 GW
purchase new wind and solar energy.
are prioritizing the reduction of
– more than Canada’s total installed
greenhouse-gas emissions within
wind and solar energy capacity.
Indeed, a growing number of utilities
Globally, more than 300 leading
options for consumers in different
their environmental, social and governance (ESG) strategies and taking steps to ensure the electricity they use is generated by non-emitting
companies have come together as RE100 to signal their commitment to
are now offering renewable-energy parts of the country.
100 per cent renewable electricity.
In addition to corporations, a growing
According to Bloomberg New Energy
number of municipal, provincial, and
To that end, companies are signing
Finance, these RE100 members will
federal governments are also looking
power-purchase agreements (PPAs)
need to purchase 93 GW of renewable
to sign PPAs for renewable energy.
with renewable-energy providers.
energy in 2030 just to meet their
For example, the City of Edmonton is
PPAs are long-term agreements
existing commitments.
now looking to sign such agreements
sources, like wind and solar energy.
6 ALBERTA SOLAR REVIEW • 2022/23
