As the demand for renewable energy grows, solar power has emerged as one of the most promising solutions. In Western Canada, where large open spaces (including rooftops) and abundant sunlight offer great potential, the solar industry has experienced significant growth in recent years. In this blog post, we will explore the evolution of solar power, its impact in Western Canada, and what we see in store for this industry over the next 5-10 years.
Over the past few years, solar power has made remarkable strides in Western Canada, far exceeding the Alberta Electric System Operator’s most ambitious growth forecast. At SkyFire Energy, we have seen firsthand the increased adoption of solar energy in residential, commercial/industrial, and utility-scale sectors.
The advancement in solar technology and economies of scale, especially in solar PV modules (aka panels), have significantly reduced the costs associated with solar installations. As a result, solar power has become more accessible and affordable for consumers, making it an attractive option for energy generation.
In recent years, a heightened sense of environmental consciousness has prompted individuals and businesses to seek clean energy alternatives. As a renewable energy source, there are opportunities to reduce carbon emissions and mitigate climate change. For larger businesses with ESG goals, this is an important step (even a focal point) in reaching their sustainability goals.
We’ve also seen the federal and provincial governments introduce various incentives to promote solar energy adoption, such as tax credits, grants or rebates, and net metering programs. These incentives impact the uptake for both residential and commercial customers to invest in solar installations. They also create challenges for the industry by creating a ‘roller-coaster’ effect known as the “solar coaster” and expectation and reliance on these incentives for the consumer.
For energy-rich provinces like Alberta, the rising popularity of solar power has made a significant impact. Alberta, with its abundance of wind, solar, and fossil fuel resources, has become an attractive destination for investors and businesses. This unique mix of energy sources, a deregulated electricity market, and a solid interconnection (i.e. Micro Generation) Regulation has not only attracted investment but also contributed to a relatively stable job market in the province. Natural Resources Canada recently announced an investment of over $160 million in nine solar energy projects in Alberta. These projects are expected to create hundreds of good jobs. They will deploy 163 MW of new solar generation and 48 MW of battery storage capacity, reducing over 150,000 tonnes of CO2e emissions per year. Additionally, these projects are estimated to create over 3,000 job years [1].
Additionally, the Canadian government has invested heavily in Alberta’s training centers for skilled solar jobs. It is worth mentioning that, considering the rise in demand for solar and other renewable energy alternatives in Alberta and BC, the number of solar jobs created in the region is likely to continue growing in the coming years.