Summary
Canada's Energy Future 2023 report provides a comprehensive analysis of energy supply and demand in Canada, with projections up to 2050. The report is based on three different scenarios, each with different assumptions about economic growth, energy prices, and technology development. The scenarios explore the potential impacts of climate change, technological innovation, and policy changes on the Canadian energy system. Key findings from the report include the continued dominance of fossil fuels in the Canadian energy mix, although their share is expected to decline over time. Renewable energy sources, such as wind and solar, are projected to grow rapidly, but will still account for a relatively small share of total energy consumption. Nuclear power is expected to remain an important source of low-carbon electricity, although its share may decline in some scenarios. The report also highlights the need for a balanced and sustainable approach to energy development in Canada, taking into account economic, social, and environmental factors. This includes the need to reduce greenhouse gas emissions, improve energy efficiency, and promote innovation in clean energy technologies. Overall, the report provides valuable insights into the future of energy in Canada, and can help inform policy decisions and investment strategies in the energy sector.
Region:
North America
Published:
June 2023
Author(s):
Canada Energy Regulator
Language:
English