The Canadian Council on Renewable Electricity (CanCORE) has released its newest report called Powering Climate Prosperity: Canada’s Renewable Electricity Advantage. According to the report, Canada ranks fourth in the world in installed hydro capacity at 77GW, and ranks third for the number of in-stream tidal and wave technology developers. While new projects and upgrades to existing dams currently under construction, and slated to become operational between 2014 and 2020, are expected to add another 4569MW of capacity.

"With abundant wave, tidal and river resources, Canada is poised to benefit from the emerging marine renewable energy industry at home and in the growing global marketplace," says Elisa Obermann, Executive Director of Marine Renewables Canada.

Canada has an abundance of installed hydropower and abundance of untapped resources, the report states, as well as an industry and labour force that know how to responsibly harvest them. It goes on to add:

“Our nation must not remain a spectator on the sidel ines as the rest of the world digs deep and begins the hard work of decarbonising the global economy. Canada has the renewable resources and the know-how to develop them. With the right policy frameworks, we can easily attract the capital needed to lead the world. We can leverage our competitive advantage in renewable electricity to power our future climate prosperity."

The Canadian Hydropower Association is one of CanCORE’s founding partners.