Recently, the Canadian Renewable Energy Association (CanREA) announced its 2022 report, which highlights the industry’s year-end data. Here are some of the main takeaways:
- Canada added 1.8 GW of wind and solar power in 2022, which is a significant increase from the 1.3 GW added in 2021.
- Renewable energy accounted for 10% of Canada’s total electricity generation in 2022, up from 8.5% in 2021.
- 85% of the new electricity generation capacity in Canada in 2022 came from renewable sources.
- Of the 1.8 GW added, 1.4 GW came from wind power projects, while 400 MW came from solar projects.
- Western Canada led Canada’s significant growth this year, accounting for 98% of growth in 2022, with Alberta adding 1,391 MW and Saskatchewan adding 387 MW of installed capacity this year.
The declining cost of wind and solar power is contributing to the growth of renewables. Wind power has decreased by 32% over the last decade, while the cost of solar power has decreased by 89%.
The growth of renewable energy in Canada has been driven by several factors, including government support and policies, increased public awareness and demand for sustainable energy solutions, and the declining cost of renewable energy technologies.
To download a summary of CanREA’s report, visit their website.