The Energy Mix reports:

Contracted energy costs for wind and solar projects in Canada have fallen to half of what they were 10 years ago, new analysis shows.

“Now, they’re the lowest-cost form of new electricity generation,” write Pembina Institute electricity program manager David Pickup and senior analyst Will Noel, citing Ontario and Alberta grid operators and global analysts [pdf]. The authors say the trend is expected to continue, with projections that wind and solar costs will fall another 25% to 50% over the next decade.

The cost decline comes at a good time, as demand for new electricity generation rises with the increasing adoption of electric vehicles, heat pumps, and other new technologies.

The kWh’s delivered by BC Hydro to consumers barely changed in the last decade. Demand will grow in the next ten years, with the fossil fuel industry, particularly LNG companies, as the primary drivers of demand growth.

To meet new demand, in 2024 BC Hydro asked private power producers to supply additional electricity. The Call for Power resulted in 10 successful bidders, nine of which proposed to use wind turbines. The total capacity of these projects was 1,635 MW, with delivery of electricity expected to be around 5,000 GWh.

Site C is designed to deliver the same amount of electricity. There are major differences, though. Wind power will cost a fraction of Site C power, and the time it takes to deliver electricity from wind turbines will be two or three years. Site C took ten years from the start of construction to full operation, plus decades of planning.

By the way, Canada West Forum is holding a free online webinar about wind power on March 24th. Check the CWF website for a link to the event. In the first half of April, a forum on solar will follow. Later, the nonprofit organization will host forums on next-generation, grid-scale geothermal, distributed energy resources, and energy conservation.

Taken together, these forums will provide the absolute best learning resource for people interested in renewable energy.