Hydroelectric power remains a key driver for the Canadian economy, according to a new report released by the Canadian Hydropower Association in conjunction with its 2015 Forum on Hydropower in Ottawa.
The study, titled, “Hydropower and the Canadian Economy: Jobs and Investment in Canada’s Largest Electricity Source“, notes that hydro accounts for 63% of the country’s overall power supply while also generating “substantial ongoing contributions to economic activity in the form of GDP and employment.”
According to data collected by Statistic Canada in 2013, Canadian hydropower:
- Contributed nearly US$31 billion to the country’s gross domestic product and supported 135,000 jobs;
- Invested more than $8.3 billion in hydroelectric infrastructure;
- Spent close to $4.5 billion on the production, transmission and distribution of hydroelectric power; and
- Provided $21.7 billion in revenues from generation, transmission and distribution.
“Canada’s hydropower industry offers a broad range of benefits that touch virtually every segment of the economy,” the CHA report said. “This role reaches far back into the country’s history and will continue to spin off future development. Hydropower has all the key ‘win-win’ characteristics that set it apart from alternative electricity investment options.”
HydroWorld.com reported earlier this year that the sector continues to dominate Canadian infrastructure spending, with hydro projects taking the top four spots in business magazine ReNew Canada‘s “Top 100 Biggest Infrastructure Projects for 2015” list.
CHA president Jacob Irving is one of several global industry leaders scheduled to deliver messages during the opening keynote session at the upcoming HydroVision International 2015 conference and exhibition in Portland, Ore.
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