Since last year, there have been dramatic changes in our energy sector, and in our thinking about clean energy overall. The International Energy Agency’s World Outlook released in fall 2022 notes just that: the energy crisis sparked by Russia’s invasion of Ukraine will transform the global energy landscape for decades, causing profound and long-lasting changes that could accelerate the transition to a more sustainable and secure energy system.
We are already seeing governments working to ensure a cleaner and more secure energy future – and this became very real in Canada after the signing of a Joint Declaration of Intent between Premier Trudeau and Chancellor Scholz, agreeing to co-operate on the export of clean hydrogen from Canada to Germany by 2025. This has had a significant impact on Canada’s thinking around clean energy and what steps are needed to support this commitment. Developing more renewable sources is no longer just about reducing our emissions and fighting climate change at home, it’s an opportunity and necessity to provide solutions globally.
On top of that, Canada is going to need at least 2-3 times more clean electricity produced to meet its goal of net zero by 2050. Possibly even more, when we start to factor in the production of green hydrogen for domestic and export needs.
Achieving these commitments and goals is going to require Canada to tap into all of its renewable energy resources, including those from our oceans and rivers. This is the moment in time we have been preparing for. And our sector and our members are ready to contribute. From producing green fuels like hydrogen, to displacing diesel in remote communities and providing clean electricity to the grid, our marine renewable energy resources offer clean solutions that Canada and the world are looking for.
2022 was truly a turning point, not just for energy transition but also for marine renewables in Canada. We have seen tidal energy devices successfully operating in the Bay of Fundy and delivering clean electricity to Nova Scotia’s grid reliably, every day.