The global renewable energy market is continuing to grow and expand. This growth has been particularly noticeable in Canada, where the solar energy market is showing impressive growth and is expected to continue its upward trend in the coming years.
In 2020, Canada was the fourth largest market for solar energy in the world, behind only the USA, China and Japan. This is a significant achievement for Canada, as the country has only been actively involved in the solar energy market for a few years.
The growth of Canada’s solar energy market is being driven by a number of factors. The Government of Canada is providing incentives to support the development of solar energy projects, and the cost of solar energy is becoming increasingly competitive with other forms of energy. Additionally, Canada’s climate is ideal for solar power, as it has long and sunny summers.
As a result of these factors, the market for solar energy in Canada is expected to continue growing in the coming years. According to a report from the International Energy Agency, Canada is projected to install 6.7 GW of solar capacity by 2030. This will be a significant increase from the current installed capacity of 2.2 GW.
The growth of the solar energy market in Canada will have a number of benefits. It will reduce the country’s reliance on other forms of energy, such as fossil fuels, and will help to reduce emissions. Additionally, it will create jobs in the renewable energy sector and help to stimulate the economy.
Overall, the solar energy market in Canada is showing strong growth and is expected to continue to expand in the coming years. This growth is being driven by a number of factors, including government incentives, falling costs, and the country’s ideal climate for solar power. As a result, the market is expected to continue to grow and provide a number of benefits to the country.
