As we build our net-zero future and electrify everything from our cars to much of the broader economy, we will need at least double the clean power available today. Canada has one of the cleanest power grids in the world, but there is more to do to make it cleaner. That’s why the Canadian Infrastructure Bank is working to deploy $5 billion to advance clean power generation, transmission and storage and why we have pledged to invest an additional $1 billion over the next four years to support renewable energy and grid modernization projects.
A key challenge is Canada does not have a national power grid. And various regional grids do not all connect, limiting the reach of our clean power sources. Just as Canadian governments invested in the national railway and national highways, we can work with our provincial and territorial partners to support the development of a national power grid that will secure affordable and net-zero power for all Canadians and create thousands of good-paying jobs.
- To achieve this vision for more clean power, we will introduce a Clean Electricity Standard to achieve a 100% net-zero emitting electricity system by 2035.
- Develop additional investment tax credits for a range of renewable energy and battery storage solutions, to accelerate the deployment of clean energy in our grid.
- Create a Pan-Canadian Grid Council in partnership with provinces, territories, Indigenous peoples, the private sector, labour and civil society.
- The Grid Council will work to establish national standards, best practices, and incentives to promote infrastructure investments, smart grids, grid integration, and electricity sector innovation, with the goal of making Canada the most reliable, cost-effective and carbon-free electricity producer in the world.
- The Grid Council will promote the lowest cost approaches to electricity system planning and development in Canada, while advancing competitiveness to sell more Clean Canadian Power to the United States, creating good jobs at home while helping our neighbour also achieve a clean grid.
Investing in clean power means cleaner air, healthier lives and more jobs right across Canada.