Renewable Power Growth in the US and Canada Supported by Strong Local Policies
The US and Canada are global leaders in renewable power generation. The growth momentum of their renewable industries has primarily been driven by the support mechanisms provided by federal and state governments. Although both countries have federal regulations in place for renewable industry, states and provinces with strong policy frameworks have been the leading contributors to installed capacity, and the pattern of development has largely been dependent on the support mechanisms provided.
In the US, the growth of the renewable energy industry has been led by the state-level Renewable Portfolio Standards (RPS), combined with other tax incentives and subsidies. California and Texas, which have been providing policy support to the renewable energy industry for more than a decade, are the leaders in renewable capacity in the US. The Canadian government is supporting renewable energy with its ecoEnergy program, and Ontario, with its comprehensive Feed-in Tariff (FiT) program, is the leading province in terms of renewable power capacity.
Canada is a leading country in terms of the use of renewable energy resources for electricity generation and heating. In 2013, renewable energy, including small hydropower, accounted for 8.9% of its electricity generation. Wind power is the most prominent source of renewable energy, generating around 39% of Canada’s renewable total – including hydropower – in 2013.
The new report available from Electronics.ca Publications, “North and South America Renewable Energy Policy Handbook 2014“, presents an in-depth analysis of the renewable energy policies across the major countries in North and South America namely the US, Canada, Argentina, Brazil and Mexico. It also presents the major renewable policy frameworks in place in some of the major states in the US and Canada. This report provides the current and future renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of their renewable energy industry. Major technology specific policies and incentives are also provided in each of these countries. Finally, the research presents insights to major policy initiatives for the market development of renewable energy sources such as wind, solar, geothermal, biopower and biofuels.