Plugging in to Canada’s Electricity Technology Ecosystem

March 26, 2024

Canada is known for its innovation in many key economic sectors—mining, forestry, and clean energy generation, among others. So it’s not surprising that Canada derives over 80 per cent of our electricity from renewable and non-emitting sources. On a global scale, this gives Canada a competitive advantage, as clean electricity grids are now a key decision factor for many investors, companies, and project developers.

However, we still have many challenges to overcome in order to achieve the federal government’s emissions reduction plan for a net zero electricity grid by 2035 while also keeping up with rising electricity demand. 

Canada’s Electricity Technology Value Chain

In order to achieve a net zero energy sector, and take advantage of our position as a world leader in clean energy technologies, having a thorough understanding of Canada’s electricity technology ecosystem is necessary. This is why Foresight Canada embarked on a mission to map, categorize, and analyze Canada’s electricity technology value chain.

Canada’s Ventures to Value Chains: Electricity Technology is part of a Foresight initiative leveraging data from technology companies and other key stakeholders to map, categorize, and analyze strategically important industry value chains for Canada in the clean economy. 

An invaluable tool for innovators, industry leaders, investors, academics, and government officials, this resource explores the strengths, gaps, and areas of opportunity specific to the national electricity technology innovation ecosystem. 

If Canada is going to capitalize on this opportunity to lead in the development, commercialization, and export of electricity technology, it is crucial that we have a thorough understanding of the sector. 

Electricity Technology Infographic
Electricity Technology Infographic Steffi Lai

Key Takeaways from Canada’s Ventures to Value Chains: Electricity Technology

Available for purchase, Canada’s Ventures to Value Chains: Electricity Technology uncovers several key themes that will help guide the future of Canadian clean electricity technology innovation.

  • There are 245 companies across Canada’s electricity value chain
  • The majority of companies  focus on storage, distributed electricity generation, and distribution
  • Solar is Canada’s most common electricity generation technology, and is an area of strength in Ontario
  • Areas seeing strong growth include electrochemical energy storage and hydrokinetic generation technology, though Canadian hydrokinetic is still in early stages 
  • British Columbia has the largest number of electricity generation companies along the value chain, with applications for rural and remote communities

Interested in learning more about Canada’s electricity technology value chain? Check out the Executive Summary.