Queen's University Mechanical Engineering Professor Joshua Pearce conducted the study – to be published in the August edition of the academic journal Energy Policy – to find out if it makes economic sense for governments to support solar cell manufacturing in Canada. He was surprised to discover the answer is an overwhelming yes even in extreme situations and feels governments should be aggressively supporting this industry to take advantage of the financial opportunity.
"This study uses hard financial numbers. Everything we did is transparent and all our equations are in the study," says Professor Pearce. "The benefits of encouraging solar manufacturing in Canada are clear and massively outweigh the costs."
The report looked at six different scenarios: everything from building a plant and giving it away or selling it to more traditional and less costly loan guarantees or tax holidays for a private sector company to construct the plant. In all the scenarios, both federal and provincial governments enjoyed positive cash flows in less than 12 years and in many of the scenarios both governments earned well over an eight per cent return on investments ranging from hundreds of millions to $2.4 billion.
The revenues for the governments of nearly $500 million a year, were determined from taxation (personal, corporate and sales), sales of panels, and saved health, environmental and economic costs associated with offsetting coal-fired electricity.
Queen's started the study last summer, before the Ontario government announced a $7-billion power production and manufacturing deal with Samsung in January. Some criticized the deal but Professor Pearce says Canadians are the winners.
"Canada will really make out if Samsung comes through with what they said they are going to do. We gave them a little bit of incentive and Samsung will give us a lot of jobs, less pollution, and a long term substantial source of revenue. We are absolutely winning on this deal – there is no question," Professor Pearce says. "The market is much larger than the Samsung deal. The question now is how to bring even more photovoltaic manufacturers to the province."
The Energy Policy report, co-authored by Queen's student Kadra Branker, studied the financial impact in Ontario but Professor Pearce says the numbers can apply to all provinces in Canada.
Michael Onesi | EurekAlert!
How protons move through a fuel cell
22.06.2017 | Empa - Eidgenössische Materialprüfungs- und Forschungsanstalt
Fraunhofer IZFP acquires lucrative EU project for increasing nuclear power plant safety
21.06.2017 | Fraunhofer-Institut für Zerstörungsfreie Prüfverfahren IZFP
An international team of scientists has proposed a new multi-disciplinary approach in which an array of new technologies will allow us to map biodiversity and the risks that wildlife is facing at the scale of whole landscapes. The findings are published in Nature Ecology and Evolution. This international research is led by the Kunming Institute of Zoology from China, University of East Anglia, University of Leicester and the Leibniz Institute for Zoo and Wildlife Research.
Using a combination of satellite and ground data, the team proposes that it is now possible to map biodiversity with an accuracy that has not been previously...
Heatwaves in the Arctic, longer periods of vegetation in Europe, severe floods in West Africa – starting in 2021, scientists want to explore the emissions of the greenhouse gas methane with the German-French satellite MERLIN. This is made possible by a new robust laser system of the Fraunhofer Institute for Laser Technology ILT in Aachen, which achieves unprecedented measurement accuracy.
Methane is primarily the result of the decomposition of organic matter. The gas has a 25 times greater warming potential than carbon dioxide, but is not as...
Hydrogen is regarded as the energy source of the future: It is produced with solar power and can be used to generate heat and electricity in fuel cells. Empa researchers have now succeeded in decoding the movement of hydrogen ions in crystals – a key step towards more efficient energy conversion in the hydrogen industry of tomorrow.
As charge carriers, electrons and ions play the leading role in electrochemical energy storage devices and converters such as batteries and fuel cells. Proton...
Scientists from the Excellence Cluster Universe at the Ludwig-Maximilians-Universität Munich have establised "Cosmowebportal", a unique data centre for cosmological simulations located at the Leibniz Supercomputing Centre (LRZ) of the Bavarian Academy of Sciences. The complete results of a series of large hydrodynamical cosmological simulations are available, with data volumes typically exceeding several hundred terabytes. Scientists worldwide can interactively explore these complex simulations via a web interface and directly access the results.
With current telescopes, scientists can observe our Universe’s galaxies and galaxy clusters and their distribution along an invisible cosmic web. From the...
Temperature measurements possible even on the smallest scale / Molecular ruby for use in material sciences, biology, and medicine
Chemists at Johannes Gutenberg University Mainz (JGU) in cooperation with researchers of the German Federal Institute for Materials Research and Testing (BAM)...
19.06.2017 | Event News
13.06.2017 | Event News
13.06.2017 | Event News
26.06.2017 | Life Sciences
26.06.2017 | Physics and Astronomy
26.06.2017 | Information Technology