Global environmental challenges
Solar power mounts in Canada
Solar power is heating up in the northern reaches of Canada, a country not exactly known for its sunny rays and warm weather.
The industry has seen a heap of news from the region this week. US. solar heavyweight First Solar and Canadian pipeline company Enbridge announced that they are quadrupling the size of a solar farm in Ontario.
Why Canada and solar?
As Raymond James analyst Pavel Molchanov pointed out, having optimal solar patterns is not as important for the economics of a project than the right set of incentives.
(Case in point: Germany is the world’s top solar market, not a ranking it won by its weather.)
Currently Ontario has a European-styled incentive structure. That — plus its sizeable population — is heating up interest from the solar power industry.