Electrifying Canada, a new business-led taskforce focused on accelerating smart electrification across the country, released its first report entitled Canada’s Electrification Advantage in the Race to Net Zero. Dunsky, serving as a member of the Task Force and as its research arm, led the development of the report, which outlines key recommendations for Canada to reach its net-zero emissions goals and increase its economic competitiveness through a nuanced yet ambitious approach to growing the use of clean electricity where doing so is the most efficient and effective option.
The report calls on Canada’s business leaders, governments, utilities, regulators and investors to set in motion the big moves needed for electricity to roughly double production – and triple its market share – within a generation. The report underscores that large-scale electrification, when combined with the significant scale-up of clean gases and fuels, as well as large improvements in energy efficiency – is essential for Canada to achieve its emissions targets in the most affordable way possible.
Based on both quantitative analysis and interviews with business and industry leaders across the country, the Taskforce report proposes a series of solutions to begin addressing the real-world barriers that are delaying electricity’s breakout as the dominant energy source to fuel Canada’s economic growth and prosperity.
Specifically, the report identifies five catalysts to accelerate the pace of clean electrification in Canada, including:
- Business can ACT to develop plans and deploy near-term electrification projects;
- Governments can EMPOWER utility climate leadership through regulator and utility net zero mandates;
- Utilities can ALIGN their power planning and growth with net zero pathways to ensure ample clean power supply;
- Governments can TILT the playing field to provide greater certainty needed to drive private sector electrification investments.
- Lenders can FINANCE more electrification projects, with government contributing to de-risk early investments; and
Additionally, Dunsky’s research shows that beyond decarbonizing the existing grids, to succeed, Canada must roughly double its production of electricity over the next 30 years. This additional electricity will be needed to support growing shares of the energy used by vehicles, buildings and industry. As increasing numbers of institutional investors align their portfolios with Paris Accord net-zero targets, and as Canadian industry seeks to align with this movement and decarbonize its operations, they must know that sufficient power capacity will be available to fuel this change.
Dunsky is proud to be a member of the Electrifying Canada Task Force and to support a nuanced approach to electrification: one that recognizes both the dominant role that electricity will need to play and the significant, complementary roles of other clean energy solutions. Accelerating the clean energy transition, effectively and responsibly, has been Dunsky’s singular focus for close to 20 years. As Canada’s premier clean energy advisory firm, we are privileged to support the strategic decarbonization efforts of utilities, governments and businesses across the country.
About Dunsky Energy + Climate Advisors
Founded in 2004, Dunsky Energy + Climate Advisors supports leading governments, utilities, corporations and non-profits across North America in their efforts to accelerate the clean energy transition, effectively and responsibly.
Working across energy, buildings, industry, and mobility, we support our clients through three key services: we quantify opportunities (technical, economic, market); design go-to-market strategies (plans, programs, policies); and evaluate performance (with a view to continuous improvement).