Electrifying Canada could add $3 trillion to the economy by 2050
“Amid discussions of what an electrified economy will cost, we now have a clearer picture of what it could return – trillions in additional economic activity and over a million jobs,” he said. “It’s now up to all levels of government to come together and build on Canada’s electricity advantage to attract new investment and jobs.”
Dr. Madeleine McPherson, principal investigator at Open Insights and associate professor at the University of Victoria, offered a measured note on what the modelling can and cannot do.
“Energy-economy modelling can’t tell decisionmakers what to do, but it can reveal the conditions that are necessary for an opportunity to be realised,” she said.
New Economy Canada is a non-partisan initiative representing more than 70 companies, labour unions and Indigenous organisations, collectively employing or representing over 720,000 workers. The Canadian Chamber of Commerce represents more than 400 chambers of commerce and boards of trade, 115 sectoral associations, and over 200,000 businesses across Canada.
For advisors building positions in Canadian clean energy infrastructure or assessing long-duration asset allocations, the report provides fresh modelling that quantifies both the opportunity and the conditions required to capture it.
