Grace Brown is a senior analyst in the electricity program of the Pembina Institute, a clean energy think tank with offices in Toronto, Ottawa, Calgary, Vancouver and Edmonton.
We don’t have to look far to find an example of effective public leadership. The U.S. government has created effective incentives for scaling up clean energy. The country is already reaping the benefits, triggering a surge in domestic manufacturing. As Nobel Prize-winning economist“there’s no real question about the causes of the surge. It’s being driven by… [the] Inflation Reduction Act, whose actual core is subsidies for green energy.
Incentives, however, are only one side of the coin. Canada can advance further in attracting investment capital by creating predictable demand for clean energy through establishing clear, meaningful and well-designed rules. The clean electricity regulations that the federal government is currently designing can provide the certainty that investors and renewable energy buyers need to continue investing in Canada.