Canada is well positioned to capture up to $200 billion in clean energy investment over the next decade, but how much of that opportunity is exploited will depend on system and market factors, the Canadian Renewable Energy Association (CanREA) says in a new report.
The report is entitled What’s at stake: a $200 billion clean energy investment opportunity in CanadaCanada is a top-tier destination for renewable energy investments due to its resource base, stable policy environment, and growing demand for electricity.
Over the next 10 years, CanREA expects electricity demand in Canada to rise, driven by industrial electrification, data center growth, population growth, and the expansion of energy-intensive sectors such as mining and manufacturing.
He estimates that between 54 and 88 gigawatts of new wind, solar and energy storage capacity will be needed, more than three times their current levels. This requires investments amounting to $200 billion, or approximately $20 billion annually.
The association says Canada — which has nearly 25 gigawatts operating across the country and about the same size in development or moving through acquisition — has the fundamentals to compete for that capital.
However, he added that the government must demonstrate that these projects can move through approvals on “reasonably predictable timelines,” highlighting that some timelines have already been lengthened, increasing carrying costs and urging investors to reassess whether timeline risks justify their commitments.
“What slows down the system is not a lack of capital or technology, but the time it takes to move a project through approvals, permitting and interconnection queues to construction,” the authors wrote. “This trend has become more important as electricity demand accelerates, narrowing the margin between when new supplies are needed and when the system can realistically provide them.”
They also cited China as a prime example of how successful outcomes can be achieved when delivery systems and supply chains are coordinated and network expanded rather than sequential.
In 2025, the Asian country added more than 430 gigawatts of new renewable energy capacity, accounting for more than half of global additions, supported by annual clean energy investments exceeding $600 billion and
The report concludes with the parallel construction of transportation and storage infrastructure. By comparison, Canada added just 1.5 gigawatts, a small fraction compared to China.
However, CanREA believes that Canada is competitively positioned to secure capital based on the reliability of returns and the quality of the institutional and regulatory environment. However, seizing this opportunity will require full action at all levels of government.
“Canada needs more wind, solar and energy storage to power our future, and the foundations to attract investment are already in place,” said Vittoria Bellissimo, President and CEO of CanREA. “These technologies are among the least expensive, fastest to deploy and scalable ways to build new electricity supplies, and are essential to the growth of the Canadian economy.”
Read Full report here.
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