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Ottawa, Ontario — Canada’s renewable energy industry is betting on a major expansion following Prime Minister Mark Carney’s election victory, with sector leaders calling for immediate action to capitalize on a fast-closing global investment window.
The Canadian Renewable Energy Association (CanREA) congratulated Carney and the Liberal Party, who secured a minority government after a tight race, and signaled their expectations for swift movement on a range of clean energy initiatives.
Sector Expects Delivery on Tax Credits, Infrastructure Pledges
The Canadian Renewable Energy Association (CanREA) is an organisation described as the voice for wind energy, solar energy and energy storage solutions that will power Canada’s energy future. Its members are positioned to deliver clean, low-cost, reliable, flexible and scalable solutions.
“The urgency to act has never been greater,” said Vittoria Bellissimo, CanREA’s President and CEO.
She pointed to the Liberals’ campaign commitments — including finalizing the Clean Economy Investment Tax Credits (ITCs) and securing supply chains — as crucial steps needed to maintain Canada’s competitiveness.
Analysts note that finalizing the Clean Electricity ITC is particularly urgent.
Without it, Canada risks losing private-sector investment to the U.S., where the Inflation Reduction Act has triggered a surge in renewable energy financing.
The Liberals also promised to expand financing options for Indigenous-led projects and streamline permitting processes by signing Cooperation and Substitution Agreements with provinces and Indigenous governing bodies.
Those moves could unlock a wave of new infrastructure projects, observers say, but require legislative precision and political buy-in across regions.
Workforce Challenge on the Horizon
Beyond infrastructure, the Liberal platform addressed a growing labor challenge: matching skilled trades workers with renewable energy jobs.
Easing barriers for interprovincial labor mobility was framed as a way to prevent bottlenecks in Canada’s energy transition — an issue some industry executives worry has been underestimated.
Fernando Melo, CanREA’s Federal Director, urged the incoming government to prioritize legislation.
“We are ready to work with all 343 MPs to deliver on laws that accelerate renewable and energy storage development,” he said, warning that delay could blunt Canada’s strategic advantage.
Big Promises, Higher Stakes
Carney’s election may signal political continuity, but for Canada’s clean energy industry, the stakes have only risen.
With major economies like the U.S. and EU racing to dominate the next wave of industrial growth, slow execution could leave Canadian projects stranded in regulatory or investment limbo.
“The commitments are there,” Bellissimo said. “But execution will be everything.”
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