Green technology subsidies not affecting market, audit report says

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The feds have spent more than a quarter of a billion dollars in green technology subsidies but have very little to show for it.

According to Blacklock’s Reporter citing a Natural Resources Canada report, the federal government dished out $268.6 million through the Energy Innovation Program since it was launched in 2016, but it’s had a negligible impact on the environment in this country.

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“The marketplace on its own is unlikely to invest in sufficient levels to meet Government of Canada commitments to reduce greenhouse gas emissions,” the NRCan report, Evaluation Of The Energy Innovation Program, said.

“End-use demand for clean energy is not sufficient at present. Therefore, government assistance is needed to support high risk, long-term efforts to advance energy innovation.”

The federal government launched the Energy Innovation Program in 2016 with a budget of $178.5 million and renewed it in 2017, kicking in $52.9 million for each of the next four years.

The program was created to promote clean technology like zero-emission homes and electric cars in an effort to reduce Canada’s greenhouse gas emissions.

“While the program is progressing towards achievement of its long-term outcomes, to date there are limited widespread environmental and economic benefits,” the NRCan report said.

“It is too soon to see any long-term, sustained environmental and economic benefits.

“Moreover, there are significant external factors, e.g. low price of oil, that are impeding widespread adoption of more advanced technologies.”

The report also suggested that the government will need to subsidize green tech for years if Canada’s 2030 emissions targets are to be met.