Canadian Electrical Industry News Week

Acadia CenterWith the release of Acadia Center’s Energy Efficiency: Engine of Economic Growth in Canada, policymakers and the public have access to detailed analysis regarding the macroeconomic impacts of energy efficiency programs across Canada.

Detailed nation-wide modeling shows impressive economic growth and job creation potential from clean energy resources. Every $1 spent on energy efficiency programs results in an increase in GDP of $5 to $8, the study reports. Other assessments of energy efficiency programs show growth in energy service jobs and large direct savings for consumers. 

By looking at the broader, macroeconomic impacts of those savings, Acadia Center’s modeling study shows that the energy savings generated by efficiency programs promotes increased competitiveness and output among businesses and industry, and frees up money for new spending (in the residential sector). This translates into significant economic growth and job creation potential. 

Findings at the national level for a range of investment scenarios include:

• a total net increase (over the base case economic forecast) in national GDP of $230 billion to $580 billion over the study period (2012-2040)

• a total net increase in national employment of 1.5 to 4.0 million job-years (one job-year is equivalent to one job for a period of one year). Every $1 million invested in efficiency programs generates 30 to 52 job-years

• across Canada, the peak annual increase in GDP is $19 billion to $48 billion, and the maximum annual increase is 121,000 to 304,000 jobs

This is a net benefit analysis. The results also include the negative ratepayer effects, or costs, to fund programs and losses from avoided electricity generation.

“Energy efficiency is a catalyst of economic growth,” says Dan Sosland, Acadia Center President. “Households and businesses that participate in efficiency programs see lower bills. Instead of spending billions on unnecessary energy supply, the dollars saved are put to work in the local economy, providing widespread benefits beyond those commonly acknowledged or measured.”

“Energy efficiency is an important and often undervalued energy resource,” adds Leslie Malone, Acadia Center’s Canada Program Director. “Efficiency delivers many benefits: it saves households money, improves industrial competitiveness, and drives economic growth and job creation throughout sectors and across Canada. All Canadians will benefit from investments that reduce energy waste, empower consumers, and improve environmental performance.”

The study and supporting material are available at http://www.acadiacenter.org/document/energy-efficiency-engine-of-economic-growth-in-canada 

 

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Government of CanadaTo help Canadians and businesses get through these tough economic times, the Government is proposing to introduce a wage subsidy of 75 per cent for qualifying businesses, for up to 3 months, retroactive to March 15, 2020.

This measure, which is a part of the Government of Canada’s COVID-19 Economic Response Plan, would support businesses that are hardest hit by the COVID-19 pandemic and would help protect the jobs Canadians depend on during these difficult times.

 

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WEG Speed Range SystemsThe WEG drive system, consisting of 5000KW 4160V 8-pole W60 induction motors, MVW01 medium voltage drives with input panel, control a semi-autogenous mill (SAG) at the Meliadine mine in the Nunavut territory, Northern Canada.

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