TORONTO — Mark Zacharias, govt director at Clear Power Canada, made the next assertion in response to the outcomes of the U.S. presidential election:
“President-elect Trump has made it clear that his authorities will withdraw help for clear industries whereas increasing oil and gasoline manufacturing, providing up 4 years of uncertainty for the nation’s huge, rising clear vitality sector.
“Canadians should bear in mind, nonetheless, that the U.S. is however one in every of many nations transitioning their vitality techniques, and its selections won’t alter the course of the broader world neighborhood. The world’s largest economies, from China to the EU, are innovating at a rare tempo, constructing and driving more and more inexpensive electrical automobiles, increasing their clear energy grids, and supercharging their sustainable industries.
“Regardless of the upcoming dearth of U.S. federal local weather management, many states will proceed on their clear financial path—like California, New York, and Washington, all of which have enacted robust local weather insurance policies, from clear electrical energy requirements to EV gross sales mandates (state-level EV gross sales mandates cowl 40% of the U.S. market). Canada will stay in good firm.
“Whereas it’s disappointing to see the Trump administration’s intent to drag America again right into a bygone period of expensive fossil gas dependence, the U.S.’s delay supplies a window for the nation’s clear financial rivals to cement their foothold within the world market. Certainly, if America’s incoming authorities makes good on its guarantees to finish federal help for the vitality transition, Canada ought to leverage its benefits in key competing sectors. This contains battery provide chain investments, from vital minerals to battery cells to EV meeting to recycling. The truth is, Canada was lately ranked first on the planet for its battery provide chain potential.
“Certainly, Canada’s clear investments and insurance policies—from rebates for EVs and warmth pumps to our clear electrical energy laws and investments in clear provide chains—will likely be key to sharpening this aggressive benefit, making certain Canadians proceed to reap the rewards of the vitality transition. The truth is, a latest Clear Power Canada report discovered that households can save greater than $500 a month by switching to EVs and warmth pumps however that authorities help is essential to holding upfront price boundaries low.
“As we enter one other period of weak U.S. local weather management, sustaining Canada’s course on the vitality transition has by no means been extra essential. This transition is going on, whether or not President-elect Trump believes it or not, and it’s very important that we keep centered on the long run. Nobody wins a race by going backward.”
RESOURCES
Report | Opening the Door
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Report | A Pivotal Second