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January 5

Renewable Energy Projects: Economic Recovery

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COVID-19 has slapped Canada and much of the world with the worst economic downturn we’ve seen since the Great Depression. Millions of jobs lost, businesses lost forever, large corporations shutting down Canadian branches and stores, and on it goes. Recently, there has been much discussion as to how the Canadian economy will recover. Experts from all over the world suggest renewable energy projects must be at the core of our economic recovery. From the UN to Forbes, many sources point towards renewable energy investments as the solution we need. This is by no means a fringe, radical idea; it makes economic sense to invest in renewable energy to restructure the economy.  

COVID-19 has slapped Canada and much of the world with the worst economic downturn we’ve seen since the Great Depression. Millions of jobs lost, businesses lost forever, large corporations shutting down Canadian branches and stores, and on it goes. Recently, there has been much discussion as to how the Canadian economy will recover. Experts from all over the world suggest renewable energy projects must be at the core of our economic recovery. From the UN to Forbes, many sources point towards renewable energy investments as the solution we needThis is by no means a fringe, radical idea; it makes economic sense to invest in renewable energy to restructure the economy.  

From the UN to Forbes, many sources point towards renewable energy investments as the solution we need for economic recovery.

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Why Renewable Energy Projects?

Renewable energy projects have been on the rise for some time now. In fact, they will likely be one of the only elements of the economy that grows during this economic downturn. In 2019, the industry grew by a record of 184 gigawatts (GW), not including large hydropower generation. Although this was a 12 per cent jump over the previous year, the 2019-dollar investment was only 1 per cent higher. The cost of solar PV systems also dropped in the second half of 2019 by 83 per cent globally. In the US, the EIA actually expects them to surpass coal in their share of energy production for the first time. The European Union has also used investment in the clean energy sector as a cornerstone of its economic recovery. Evidently, clean energy investment played a crucial role in the US Recovery Act after the 2008 recession. 

So, with all this information, why focus our financial efforts on clean energy as a part of this economic restart? Renewable energy as a sector has seen consistent, rapid growth for some time now. It has also sustained its demand for growth amid one of the worst economic downturns in recent history. Its upfront costs are also consistently dropping, whilst its economic return for investment is guaranteed. The clean energy sector offers guaranteed growth, demonstrable resiliency, sustained demand, and guaranteed economic and environmental benefits. It also provides an opportunity for skilled workers, who may be struggling to find work in the current economic climate. For all the above reasons, we see the need to heavily invest in renewable energy projects, on a macro-economic scale.  

Renewable energy projects have been on the rise for some time now. In fact, they will likely be one of the only elements of the economy that grows during this economic downturn. In 2019, the industry grew by a record of 184 gigawatts (GW), not including large hydropower generation. Although this was a 12 per cent jump over the previous year, the 2019-dollar investment was only 1 per cent higher. The cost of solar PV systems also dropped in the second half of 2019 by 83 per cent globally. In the US, the EIA actually expects them to surpass coal in their share of energy production for the first time. The European Union has also used investment in the clean energy sector as a cornerstone of its economic recovery. Evidently, clean energy investment played a crucial role in the US Recovery Act after the 2008 recession. 

So, with all this information, why focus our financial efforts on clean energy as a part of this economic restart? Renewable energy as a sector has seen consistent, rapid growth for some time now. It has also sustained its demand for growth amid one of the worst economic downturns in recent history. Its upfront costs are also consistently dropping, whilst its economic return for investment is guaranteed. The clean energy sector offers guaranteed growth, demonstrable resiliency, sustained demand, and guaranteed economic and environmental benefits. It also provides an opportunity for skilled workers, who may be struggling to find work in the current economic climate. For all the above reasons, we see the need to heavily invest in renewable energy projects, on a macro-economic scale.  

The clean energy sector offers guaranteed growth, demonstrable resiliency, sustained demand and guaranteed economic and environmental benefits.

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How Naveco Power Can Help

Naveco Power is entirely owned and operated in New Brunswick. As well, Naveco is working towards a clean energy future, as we have seen countless initiatives fail in our province. Whether it be potash mining, the Energy East Pipeline, or fracking, this has been going on for decades. We’ve also seen how at-risk our crucial industries, such as fisheries and softwood lumber, have been in recent years. With our aging population in decline, our economy relatively stagnant, and the current crisis, we need an economic Hail MaryRenewable energy projects present a hopeful opportunity for economic prosperity in New Brunswick. With all the benefits mentioned above, we can shift to a green economy that is also overwhelmingly economically beneficial.

Naveco Power is entirely owned and operated in New Brunswick. As well, Naveco is working towards a clean energy future, as we have seen countless initiatives fail in our province. Whether it be potash mining, the Energy East Pipeline, or fracking, this has been going on for decades. We’ve also seen how at-risk our crucial industries, such as fisheries and softwood lumber, have been in recent years. With our aging population in decline, our economy relatively stagnant, and the current crisis, we need an economic Hail MaryRenewable energy projects present a hopeful opportunity for economic prosperity in New Brunswick. With all the benefits mentioned above, we can shift to a green economy that is also overwhelmingly economically beneficial.

Local Job Opportunities

Status quo economic ideas have not helped New Brunswick, and they will not drag us out of this economic crisis. Now is the time to revolutionize our economy. With millions and billions of dollars of recovery funding being tossed around, we now have the means to do so. The clean energy sector can provide job opportunities, while also cutting utility expenses for businesses. Additionally, it can offer extended economic growth and stability, a greener economy, and a brighter future for all New Brunswickers. We have hope here at Naveco Power. We believe in New Brunswick, and in this time of uncertainty, we see a way forward to a better tomorrow.  

Status quo economic ideas have not helped New Brunswick, and they will not drag us out of this economic crisis. Now is the time to revolutionize our economy. With millions and billions of dollars of recovery funding being tossed around, we now have the means to do so. The clean energy sector can provide job opportunities, while also cutting utility expenses for businesses. Additionally, it can offer extended economic growth and stability, a greener economy, and a brighter future for all New Brunswickers. We have hope here at Naveco Power. We believe in New Brunswick, and in this time of uncertainty, we see a way forward to a better tomorrow.  

Save on Utility Costs

For local businesses, there are clear economic benefits when renewable energy is adopted. In a time of economic difficulty and uncertainty, cutting costs and a guaranteed return of decades to come is a reassuring thought given the current economic climate. Installing solar panels through a 25-year lease with Naveco Power, for example, offers a cost-effective method of cutting your utility costs for years to come. This kind of opportunity can offer peace of mind to business owners who are unsure of what the future holds. Naveco Power can offer the certainty of guaranteed economic and environmental benefits at a reasonable cost.  

For local businesses, there are clear economic benefits when renewable energy is adopted. In a time of economic difficulty and uncertainty, cutting costs and a guaranteed return of decades to come is a reassuring thought given the current economic climate. Installing solar panels through a 25-year lease with Naveco Power, for example, offers a cost-effective method of cutting your utility costs for years to come. This kind of opportunity can offer peace of mind to business owners who are unsure of what the future holds. Naveco Power can offer the certainty of guaranteed economic and environmental benefits at a reasonable cost.  

Decrease Your Carbon Footprint

While the economic benefit and importance of switching to renewables are paramount now, there are also significant environmental benefits in doing so. Most countries are currently lagging on their Paris Climate Accord targets, with 826 GW (1 Trillion USD of investment) set to be in production by 2030 This falls short of last decade’s achievements, which saw around 1,200GW of new capacity, at a cost of $2.7 trillion. If the world, including us here in NB, focuses on renewable energy as a cornerstone of our economic recovery from this recession we may well see the level of investment in new clean energy sources needed to curb global warming.  

The economy and the environment are tied together. We face an economic crisis and an environmental crisis currently on top of the current health crisis. The solution to our current economic and environmental situations is before our very eyes. The science is clear, and the economics are also very clear. How we move forward is a conscious choice. Renewable energy is a significant economic opportunity for New Brunswickers and the worldwhich greatly benefits our environment. It’s a chance to revolutionize our economy and exit this recession with our future in mind. At Naveco Power we have the future in mind, and we hope the powers that be see the opportunity we do in New Brunswick. Now is the time to shift to renewable energy.  

 

 Sources:

https://www.irena.org/publications/2020/Jun/Post-COVID-Recovery 

https://news.un.org/en/story/2020/06/1066082 

https://www.forbes.com/sites/ashoka/2020/05/29/the-path-to-the-covid-recovery-is-paved-with-renewable-energy/#2088690a23da 

https://www.undp.org/content/undp/en/home/blog/2020/how-clean-energy-can-power-a-covid-19-recovery0.html 

https://www.forbes.com/sites/ankitmishra/2020/06/08/canadas-clean-energy-sector-can-help-drive-economic-recovery-from-covid-19/#2d7b77fa21bd 

https://www.cbc.ca/news/canada/pandemic-recovery-green-infrastructure-1.5595704 

While the economic benefit and importance of switching to renewables are paramount now, there are also significant environmental benefits in doing so. Most countries are currently lagging on their Paris Climate Accord targets, with 826 GW (1 Trillion USD of investment) set to be in production by 2030 This falls short of last decade’s achievements, which saw around 1,200GW of new capacity, at a cost of $2.7 trillion. If the world, including us here in NB, focuses on renewable energy as a cornerstone of our economic recovery from this recession we may well see the level of investment in new clean energy sources needed to curb global warming.  

The economy and the environment are tied together. We face an economic crisis and an environmental crisis currently on top of the current health crisis. The solution to our current economic and environmental situations is before our very eyes. The science is clear, and the economics are also very clear. How we move forward is a conscious choice. Renewable energy is a significant economic opportunity for New Brunswickers and the worldwhich greatly benefits our environment. It’s a chance to revolutionize our economy and exit this recession with our future in mind. At Naveco Power we have the future in mind, and we hope the powers that be see the opportunity we do in New Brunswick. Now is the time to shift to renewable energy.  

 

 Sources:

https://www.irena.org/publications/2020/Jun/Post-COVID-Recovery 

https://news.un.org/en/story/2020/06/1066082 

https://www.forbes.com/sites/ashoka/2020/05/29/the-path-to-the-covid-recovery-is-paved-with-renewable-energy/#2088690a23da 

https://www.undp.org/content/undp/en/home/blog/2020/how-clean-energy-can-power-a-covid-19-recovery0.html 

https://www.forbes.com/sites/ankitmishra/2020/06/08/canadas-clean-energy-sector-can-help-drive-economic-recovery-from-covid-19/#2d7b77fa21bd 

https://www.cbc.ca/news/canada/pandemic-recovery-green-infrastructure-1.5595704 

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