Alberta Needs Billions More to Invest in Energy Transition: Study | The Canadian News

A new study says the global energy transition could create 170,000 jobs in Alberta and contribute $ 61 billion to the province’s GDP by 2050.

But it suggests Alberta will have to rapidly increase investment in cleantech or risk being lost.

Alberta companies are already at the forefront of investing in cleantech in Canada.

The study says the province has the ability to be a world leader in areas such as carbon capture and storage, hydrogen production and electrification.

But the study says Alberta will need to invest more than $ 5.5 billion in cleantech by 2040 in order to fully capitalize on the opportunity. The current level of investment in cleantech in Alberta is less than $ 1 billion annually.

The study was commissioned by Calgary Economic Development and Edmonton Global.