The road map for the Renewable Electricity Program (REP) includes interim targets to achieve 30 per cent renewable electricity by 2030, including Indigenous participation in the development of 1,500 megawatts of power, which is enough to power more than 700,000 homes.
Through this program, Alberta will see 5,000 megawatts of green generation, about $10 billion in new private investment and the creation of 7,000 jobs by 2030.
“We're leading the fight to create good jobs in a more diversified economy. By laying out a more detailed, long-term plan for renewable power, we're strengthening Alberta’s position as a leader in renewable energy while providing certainty for private investors, communities and First Nations. Under Premier Rachel Notley’s made-in-Alberta plan, we’re maximizing the jobs, investment and economic benefits for all Albertans.”
The first rounds of the program set records for the lowest prices in Canada for renewable electricity. The long-term plan builds on this momentum and, in addition to fostering further Indigenous partnerships, includes rounds with specific community interest components such as local jobs, training, shared revenues and other economic, social or environmental benefits.
“We commend Premier Rachel Notley's government for taking the meaningful action necessary to create jobs and attract new investment that fosters relationships between Indigenous communities and industry. This long-term plan provides the certainty needed to create lasting benefits in this sector for generations to come.”
While about 10 per cent of Alberta’s electricity generation currently comes from renewable sources, the interim targets provide greater certainty for investors and a strategic road map for how growth can reach 30 per cent by 2030. With more clarity and investment certainty for industry, the REP long-term plan will amplify the investment, job creation and economic development benefits of growing renewable energy in Alberta.
“CanWEA is pleased that the Government of Alberta is taking steps to commit to a long-term, stable vision for the development of the province’s impressive wind resource. Long-term planning provides our members with the stability needed to make investments that will unlock the lowest-cost electricity for ratepayers and provide long-term benefits to landowners and their rural communities. By 2030, this could result in over $3.6 billion in project spending in the province, along with $25.5 million in property tax and $13.5 million in land lease payments every year.”
The Alberta Electric System Operator (AESO) has also been directed to develop recommendations for a fourth renewable electricity auction, which will add up to 400 megawatts of renewable electricity in Alberta and, similar to a previous round, must demonstrate benefits to Indigenous communities. As with the first three rounds, REP will continue to make efficient use of existing and planned transmission or distribution infrastructure. Details are expected to be available in mid-2019.
Support for the Renewable Electricity Program is made possible by reinvesting revenues from carbon pricing under the Climate Leadership Plan and is not funded by consumer electricity charges.
REP component totals:
- 1,500 megawatts to be developed in participation with Indigenous communities.
- 900 megawatts to developed with additional benefits for communities.
- 2,600 megawatts to be developed to respond to any specific needs of the electricity system.
Interim Alberta renewables targets:
- 15 per cent by 2022
- 20 per cent by 2025
- 26 per cent by 2028