Think Ontario if you are thinking green

subscribe

Canada expects to be pulling out of its recession by the middle of the year. Lending actually rose in December. Credit, for the most part, is flowing normally.

The reason? Canada has the wisdom to properly regulate its banks. Banks there have plenty of cash on hand to lend to creditworthy consumers and businesses. TheyÂ’ll survive the global financial mayhem.

The recession north of the US border is expected to be painful, but brief, even shorter than that of the early 1990s. So short, in fact, its time to start thinking ahead, thinking about growth and thinking about renewable energy and electric cars.

The Ontario Power Authority (OPA), the regulatory agency responsible for ensuring a reliable, sustainable supply of electricity for Ontario, has just awarded not one, or two, or three, four or five, but six long-term contracts for power from wind energy projects. The contracts will lead to the construction of 500 megawatts of wind capacity and help Ontario in its goal to eliminate power generated from coal-fired power plants by 2014.

The wind farms will make jobs too. OPA expects 2200 direct and indirect jobs to be created. The direct jobs are those in the construction, management and maintenance of the wind farms. Indirect jobs will be in the manufacturing of building materials and services such as engineering design, legal, accounting and real estate.

Aside from the availability of clean power for Ontarians, landowners who host wind turbines are expected to receive about $3 million each year in lease payments. Municipalities will receive about $1 million per year in tax revenues.

Together the projects will cost about $1.32 billion. All of the projects are expected to be complete by 2012 and the power contracts are for 20 years.

Related News

understanding-risks-of-ev-fires-in-helene-flooding

Understanding the Risks of EV Fires in Helene Flooding

MIAMI - As climate change intensifies the frequency and severity of extreme weather events, concerns about electric vehicle (EV) safety in flood-prone areas have come to the forefront. Recent warnings from officials regarding the risks of electric vehicles catching fire due to flooding from Hurricane Idalia underscore the need for heightened awareness and preparedness among consumers and emergency responders.

The alarming incidents of EVs igniting after being submerged in floodwaters have raised critical questions about the safety of these vehicles during severe weather conditions. While electric vehicles are often touted for their environmental benefits and lower emissions, it is crucial…

READ MORE

IAEA Reviews Belarus’ Nuclear Power Infrastructure Development

READ MORE

ontario-clean-electricity-regulations

Ontario's Clean Electricity Regulations: Paving the Way for a Greener Future

READ MORE

ontario-drops-starlink-deal-eyes-energy-independence

Ontario Drops Starlink Deal, Eyes Energy Independence

READ MORE

Report: Solar ITC Extension Would Be ‘Devastating’ for US Wind Market

READ MORE