B.C. holds a winning hand in clean energy
But our private-sector power producers need more help, Paul Kariya writes.
Coal and steam powered the 19th-century economy. Oil and coal largely powered the wealth of the 20th. The world has changed. It’s now clear that the springboard of natural gas will unleash the new economic power of clean energy — chiefly, renewable electricity.
Fossil fuels will always have a role in our society and economy, but public and business leaders alike are receiving messages from shareholders, pension fund managers, public-health advocates and citizens that they can do better, and that clean energy is part of our energy future.
Fortunately, British Columbia holds a winning hand in this new energy epoch.
B.C. and Canada can play that hand by responsibly harnessing the power of renewable energy and natural systems. We must encourage and nurture companies that innovate clean — not just “cleaner” — products and services, allowing businesses to increase productivity and develop new approaches that save money while generating jobs and profits across the value chain.
In early October, the Global Commission on the Economy and Climate, a coalition of former heads of government and finance ministers, called for up to $90 trillion worth of infrastructure investment in the next 15 years. The lion’s share of this investment will be needed to unlock the potential of a low-carbon world. Think walkable cities and integrated communities, seamless transportation and ubiquitous transit, wind and solar farms, smarter power grids, energy-storage technologies, biofuel refineries and green buildings.
This future holds the promise of economic growth, social stability and environmental improvement. Our biggest challenge is the inertia of the status quo.
Once policy-makers set the stage, investors and central banks will move the money where it is needed. From there, we can watch the powerful engine of free enterprise roll up its sleeves and get down to the work of transforming our world.
In 2007, B.C.’s government introduced a revenueneutral carbon tax, banned unfettered coal power and introduced the Clean Energy Act. That policy ensures the electricity we produce today is largely emissions-free — although subsequent amendments have weakened its power.
As I write this, Site C is moving ahead on the Peace River. However, while that project will produce a great deal of electricity, it will not produce enough to power an economy, a region or a nation that is reducing its fossil-fuel appetite.
The oft-touted innovation economy requires diversity in energy and other economic sectors. Innovation comes in small spurts; it requires creativity and risk-taking. Though Site C will be a positive contribution, we also need to nourish the smaller operators and the independents — B.C.’s private-sector power producers.
Most British Columbians have never heard of B.C.’s private clean-energy companies. But today they reliably, economically and responsibly generate enough electricity to light up 1.5 million homes.
These firms use private capital — not taxpayer dollars — to develop cost-effective wind, small hydro and even solar power, distributing benefits and impacts around the province, and providing real opportunities for First Nations. Since 2008, the sector has invested an impressive $8.6 billion in local communities around the province. They’ve developed and exported innovations to reduce the environmental impacts of their clean-energy facilities, and these made-inB.C. inventions are now in use around the world.
These companies have developed technologies, and development know-how.
B.C.’s small and local clean-power producers are an essential ingredient of our clean-energy mix today. They need real opportunities to make sure they are still here when we really need them. Unfortunately, private cleanenergy investment is quietly leaving the province.
British Columbia’s cleanpower sector can continue to be a vital contributor to the economy. B.C. has the tools and capacity to lead the clean-energy revolution that will be needed to power tomorrow’s economy — not just here, but across the country and the continent. This is opportunity time, and we should all grab it.
Talk about climate and innovation should be reflected in action. The action should be multi-faceted, but clean-energy production should be an important part of what is done. When you have a success, you don’t let it wither; you build on it with thoughtful policy and encouragement. The country, the province, the economy and our environment will be better for it.