While investment has boomed, the energy-generating capacity of wind, solar, run-of-river hydro and biomass plants has expanded by a whopping 93 per cent since 2009, the report says. This despite huge financial subsidies from provincial and the federal government.
This sector offers far more benefits than does the fossil fuel industry. Jobs are usually located much closer to where people live, the industry does not suffer the boom and bust cycles of the fossil industry, it isn’t a drag on the taxpayer, and it doesn’t damage the environment and people’s health. In fact, per dollar invested it generates more decent-paying jobs, and it tends to keep money in the local economy.
The fact that foreign companies are investing in Canada far more than are our companies and our governments indicates a lack of vision here at home, but not a lack of potential.