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January 11, 2018 | Canada Sees the Future, Ups Investment in EV Infrastructure

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

Canada’s Minister of Natural Resources yesterday announced a $120-million investment to expand the network of electric vehicle charging and alternative refueling stations across the nation “to encourage Canadians to reduce their carbon footprint”.  Additional benefits will be improved air quality, lower household expenditures on fuel and internal combustion engine parts and repairs, and reduced pollution-related death and illness.  Smart investment for lasting benefits.  See: Coast to coast investments help Canadians drive clean:

Electric, hybrid and alternative fuel vehicles are the future of transportation. As Canadians continue to make greener choices, our government is giving them more options to drive clean while supporting a cleaner environment.

The funding, which is part of Phase 2 of the Green Infrastructure Fund, will support the deployment of electric chargers; natural gas and hydrogen refueling stations; the demonstration of new, innovative charging technologies; and the development of codes and standards. Proposals are now being accepted for deployment and demonstration projects.

Today’s announcement brings our total investment to $182.5 million. It builds on the success of the initial $62.5-million Phase 1 investment in 2017 that provided funding for more than 100 electric vehicle fast-charging stations, seven natural gas refuelling stations and three hydrogen refuelling stations across Canada. It is also funding 10 demonstration projects and the building of another 200 next-generation electric vehicle charging stations. A current list of all projects is available on the NRCan website.

The Government of Canada has also worked with our U.S. counterparts to create a Canadian version of their Alternative Fueling Station Locator map to ensure that all Canadian drivers and fleet owners have the most current information at their fingertips.

Through Canada’s national energy dialogue, Generation Energy, Canadians made it clear that the transition to electric vehicles and lower-carbon fossil fuel alternatives is not a luxury but a necessity for Canada’s low-carbon future. Our government continues to support green infrastructure projects that will create jobs, advance Canada’s clean future and help us realize our domestic and international climate change goals.

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January 11th, 2018

Posted In: Juggling Dynamite

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