Pursuit of Net-Zero - A $61B Opportunity in Alberta's CleanTech Sector
8 Dec 2021
Edmonton Global and Calgary Economic Development, in partnership with Prairies Economic Development Canada (PrairiesCan), recently commissioned the Alberta Energy Transition Study to determine the economic opportunity around growing the cleantech sector in Alberta.
The study just being released indicates the global energy transition could create 170,000 jobs in the cleantech sector in Alberta and contribute $61 billion to GDP by 2050. It found that both Calgary and the Edmonton region are uniquely positioned to be leaders in a transition to a lower-carbon economy with our growing cleantech ecosystem, world-class resources and infrastructure; a long history of industry collaboration and investment; and a deep pool of specialized talent.
The study – conducted by three Alberta-based organizations: Delphi Group, Foresight Canada and Cleantech Group – concluded to capitalize on the opportunity thoroughly, Alberta will need to invest more than $2.1 billion a year in cleantech by 2030, increasing to $5.5 billion by 2040.