Green energy companies are thriving in Canada, but they face significant hurdles when it comes to getting the green light from regulators.
In the United States, green energy is a hot commodity, and in Europe, there’s been a boom in green energy investment.
The companies that make the green energy business can make big profits, but their growth has been stymied by the lack of regulation in Canada.
“Green energy is really a highly regulated industry, so if you’re a green energy company that wants to invest in Canada or do business in Canada you have to meet some of the stringent environmental standards,” said Robert Czukay, a professor of environmental studies at the University of British Columbia.
He explained that the Canadian government has made it more difficult for companies to do business overseas, including setting minimum standards for energy and environmental testing.
In 2016, the Canadian Green Energy Act was introduced, allowing green energy companies to invest up to $500,000 in Canadian projects, but the Canadian Energy Regulator has yet to make any rules.
The regulator has yet not taken action on green energy investments, despite having a duty to act.
That’s left Canadian companies in a difficult spot.
The Green Party wants to expand green energy in Canada but they have a difficult time attracting investment because of the current regulatory landscape.
That means the Green Party also wants to create green energy regulations in other countries, but that’s not possible without some kind of government support.
“We want to encourage other countries to set up their own green energy infrastructure in the same way that Canada is doing, and that’s where a lot of our support comes from,” said Green Party Leader Elizabeth May.
“If you want to invest here in Canada and you want our country to be a good place to do that, you have got to set aside some money to fund green energy and green infrastructure.”
It’s not only investors that are worried about green energy.
Green energy is also a major source of jobs in Canada for the young.
About one-third of young people in Canada are employed in green industries, according to a 2017 study by the Canadian Centre for Policy Alternatives (CCPA).
That’s because many young people want to learn how to work with green energy, but can’t find a job in green technology companies that do the work for them.
“It’s not a question of having a green company.
It’s a question about being able to find work for young people that are interested in green technologies,” said Elizabeth May, who wants to open up the green economy in Canada to young people.
“A lot of young Canadians are going to start with the idea of starting a green business and then they want to do some research on green technologies, which can help them to get started and start a business.”
It might take years to change that situation, but at least May believes that Canadians can start by changing their own government.
“I think it’s important to be able to talk to the government about what you want your country to look like,” said May.
Green Party leader Elizabeth May says she wants to see a Green Canada, one that “puts an emphasis on green technology and green jobs.”