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Key Drivers of the Energy Transition The energy transition is driven by several significant factors, including the critical need to combat climatechange and the economic benefits of renewable energy sources. Combatting climatechange Reducing carbon emissions is at the core of energy transition efforts.
“The absence of a net zero emissions strategy for Ontario’s electricity grid could result in missed growth opportunities in promising new markets,” said the report, Net Zero Opportunities , pointing to renewables, smartgrids and battery storage. We see this transition as inevitable,” Arnold said.
Contrary to what people might think, the federal budget tells us precious little about what the government is actually spending money on this year when it comes to clean economy incentives, or anything else for that matter. The table below shows new budget funding to address the climate crisis and opportunity imperatives this fiscal year.
Key leverages its expertise, relationships, market influence, and resources to help address the pressing challenge of climatechange. and provides services to cleantechnology firms in the power generation, smartgrid, energy management, and pollution control sectors.
For companies that fall short of those markers, the 15% cleantechnology and hydrogen tax credits will fall to 5%. This is a fairly private sector-focused budget,” she said, but government also “has a role to play in supporting communities to address [climatechange] mitigation in their own back yards.”
In the complex interplay of geopolitics, technology, and economic power, cleantechnology has emerged decisively as the defining economic driver of this century.
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