Canada in a changing global energy landscape .: PH4-163/2016E-PDF

The world’s energy landscape is transforming rapidly as the cost of renewable-based electricity, particularly from wind and solar, declines to become competitive with or lower than the price of electricity generated by fossil fuel and nuclear power plants. Power utilities and companies are increasingly choosing to increase their generating capacity using renewable sources rather than fossil power as the perceived problems of intermittent supply from solar and wind are addressed with better supply and demand management using a combination of integrated smart grids and battery storage. The price of batteries is falling precipitously leading to their application at local and grid-level scales in the power supply system as well as facilitating significant electrification of transportation. The shift to an electricity dominated global energy mix will be accelerated as decreasing costs combine with increasing government and private sector concerns over climate change, energy security and air pollution, particularly in developing countries where the need for additional energy capacity is greatest. In combination, these drivers could lead to renewable-sourced electricity replacing fossil fuels as the dominant form of primary energy used in the global economy for most industrial, commercial and personal activity.

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