November 19, 2020 | Renewable Energy and EVs Have Cost/Benefit Advantage

The energy sector in southern Alberta has over $2 billion worth of renewable energy projects being built in the region.  The related new jobs and tax revenue are much needed.  See: Southern Alberta witnessing ‘unprecedented’ surge in renewable energy projects.

The renewable energy sector in southern Alberta is riding high with projects surging like never before. Taz Dhaliwal finds out what’s driving the boom.  Here is a direct video link.

This global trend is exploding because new wind and solar installations with battery storage are more cost-effective than new fossil fuel production and peaker plants.

The EU is planning to increase its offshore wind capacity by 250% with wind farms in the North Sea, the Baltic, the Atlantic, the Mediterranean and the Black Sea (creating an estimated 62,000 jobs).  See:  EU plans to increase offshore wind capacity by 250%.

The UK has committed to powering all of its homes from offshore wind and banning internal combustion engines by 2030–ten years earlier than previously planned.  See:  UK’s Green Plan backs 250,000 jobs and bans gas car sales.

Bill Gates estimates that more than 50% of business travel will disappear permanently in the post-COVID world, and the Bank of Canada is recommending that the Federal Government work with them in seizing “the climate-smart opportunities that consumers, workers and investors are looking for.”  See:  Canada needs to pick up pace on tackling climate change, Tiff Macklem says:

Macklem said the risks from more extreme and more frequent weather events are often underappreciated, while risks linked to future earnings or asset evaluations are mispriced in the context of climate change.

“The longer that persists, the greater the risk of a sharp repricing, with the potential for substantial losses for financial institutions,” he said.

Danielle Park November 19th, 2020

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