Farms.com Home   Ag Industry News

Wind Powers more than 2 Million Canadian Homes!

Canada to see record installations of wind energy in 2014

By Denise Faguy, Farms.com

According to the Canadian Wind Energy Association (CWEA), Canada will see a new record for annual installations of wind energy in 2014 as a number of new projects across the country are currently in progress. 


In 2013, Canada saw exceptionally strong growth, with a record of close to 1,600 MW of new wind energy capacity installed.  Canada is a global wind energy leader, ranking 9th in the world in total installed capacity with more than 7,500 MW of wind energy in operation – providing enough power to meet the annual needs of approximately 2 million Canadian homes. 


GWEC released its 2013 market statistics, showing global wind energy capacity has tripled over the past five years to reach a total of 318,137 MW.  Despite slower growth rates in some mature markets in some countries, the amount of wind energy installed around the world rose by over 12 per cent in 2013.


The Global Wind Energy Council (GWEC) is predicting that the global growth rate for 2014 wind installations will rise significantly, as a result of significant new Canadian and US wind energy coming into the grid, and as emerging markets in Africa, Asia, and Latin America begin to see development as well. 


“Many provincial governments are on the threshold of meeting their initial commitments to wind energy development,” said Robert Hornung, President of the Canadian Wind energy Association (CanWEA). “This wide support presents new opportunities to create stable and sustainable markets in Canada for future wind energy development.”


“Most notably, the governments of Ontario and Quebec made commitments in 2013 to secure a combined 1,400 MW of new wind energy capacity over the next few years, which is the first step in building the foundation for robust, long-term markets for wind energy in Canada,” Mr. Hornung added.

 


Trending Video

Funds Ditch Ag Commodities, Chase Stocks Amid an End to Middle East War, & Trade Deal Buzz

Video: Funds Ditch Ag Commodities, Chase Stocks Amid an End to Middle East War, & Trade Deal Buzz


The 12-day war between Iran-Israel came to an end sending crude oil futures plunging as the big fund speculators removed the war risk premium.

The weather risk premium in the Ag complex is sending corn, wheat and soybean futures lower on month-end selling ahead of the market moving USDA quarterly grain stocks and acreage reports on June 30th.

Instead, funds were chasing and sending tech stocks higher with the S&P 500/NASDAQ indexes setting new all-time record highs!

June 1 USDA Hogs and pigs report was slightly bearish while the U.S. $ Index traded to new contract lows as the de-dollarization that began in 2014 continues.

Feed in the form of soybean meal futures for livestock producers got cheaper, trading to new contract lows.

The Stats Canada seeded acreage update was bullish canola and wheat.