| | March 20246EDITOR'S DESKThe Canadian renewable energy marketplace is expected to grow at a CAGR of approximately 9 percent during the forecast period. The COVID-19 pandemic did not only substantially influence the Canadian renewable energy sector since renewable projects under construction remained. For example, the installed solar PV capacity in 2020 was around 3,342 MW, greater than in 2019. The country's renewable energy industry is expected to expand in the future due to technical advancements in the sector, notably grid integration technology development and the diversification of clean energy generation sources. However, the highly centralized and controlled electrical sector impedes market expansion.Canada has been rapidly building its renewable energy sector for decades. It significantly extended its renewable power fleet due to research and innovation milestones that led to improved commercialization of renewable technology. Hydropower prevails in the country's renewable power industry, although wind energy has grown at an unprecedented rate in recent years. However, Canada has made remarkable progress in renewable energy production, thanks to government backing. The Canadian Energy Department provided significant financial support to programs to accelerate the transition to renewable energy. It also incentivized business and residential customers to employ renewable energy sources. Renewable energy sources comprised about 71 percent of the power-generating mix in 2020. The country has seen a rapid increase in wind and solar energy penetration, with new capacity constructed around the country in the previous five years.This edition of Energy Business Review Canada delivers a bird's-eye view of the recent developments in the renewable energy arena and insights into how organizations align with these trends and adopt lucrative ways to bring the futuristic vision of renewable energy. We have curated thought leadership articles from industry experts, including Sam Sadeghi, Vice President, Asset Management and Distribution Operations at Elexicon Energy & Joe Mazza, vice president of energy supply and resource development at FortisBC.We also took a deep dive into the market trends to narrow down the list of companies delivering innovative renewable energy solutions. Equipped with innovative technological capabilities, companies like Electryon Power Inc. help transform businesses at the cloverleaf of various disruptive technologies.We hope this edition of Energy Business Review Canada helps you build the partnership you and your organization need to foster an environment driven by efficient technology.A viable pathway to a cleaner energy futureJade McdonaldManaging Editoreditor@energybusinessreview.comCopyright © 2024 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Email:sales@energybusinessreview.comeditor@energybusinessreview.comMarketing@energybusinessreview.com MARCH - 15 - 2024, Vol 04 - Issue 01 (ISSN 2836-5097) Published by ValleyMedia, Inc. To subscribe to Energy Business ReviewVisit www.energybusinessreview.com VisualizersPresley Meadow Managing EditorJade McdonaldEditorial StaffAaron Pierce Ava GarciaDaeg GroverVian IsaacJoshua Parker Kenny PeruzziScott ThomasDisclaimer: *Some of the Insights are based on our interviews with CIOs and CXOs
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