The Canadian Energy Centre (CEC) has released its latest Fact Sheet: "Canada's trade in renewable energy products."
The Fact Sheet (available here) provides a snapshot of Canada's international trade in two major renewable energy products: solar panels and wind turbines.
The research analyzes exports and imports of these products over the past decade and identifies the significant trading partners for each, as well as which countries are the top importers and exporters of solar panels and wind turbine products.
Highlights from the Fact Sheet include:
- In 2021, Canada imported solar panel products with a value of CA$653 million and wind turbine products with a value of CA$91 million. Conversely, the combined total value of solar panels and wind turbines exported by Canada in 2021 was CA$260 million;
- Canada's imports of solar panel products rose from CA$512 million in 2012 to CA $653 million in 2021, an increase of nearly 28%. In contrast, the country's imports of wind turbine products decreased drastically from CA$712million in 2014, to just CAD $91 million in 2021;
- The value of solar panel products Canada exported in 2021 was CA$259 million, falling from a high of CA$410 million in 2015. Meanwhile, between 2012 and 2021, the value of wind turbine products exported was relatively negligible - less than CA$1 million worth in 2021;
- The majority of solar panel product imports to Canada in 2021 came from Vietnam (27%) and China (21%). China and Germany were the primary suppliers of the wind turbine products Canada imported at 48% and 37%, respectively; and
- China (US$33.5 billon), Malaysia (US$4.9 billion), and Vietnam (US$4.8 billion) were the largest global exporters of solar panel products in 2021. The top three exporters of wind turbine products globally were Germany (US$2.46 billion), Denmark (US$1.94 billion), and China (US$1.44 billion).
A PDF of the Fact Sheet "Canada's trade in renewable energy products" is also available on the Canadian Energy Centre's website at: https://www.canadianenergycentre.ca/wp-content/uploads/2023/03/CEC-Fact-Sheet-81-V2-Mar-3-2023.pdf
The CEC's previous Fact Sheet "Global spending on oil and gas and related activities projected to reach a cumulative $7.1 trillion through 2030" can be found here. All of the centre's research is available at canadianenergycentre.ca/research.
For more information please contact:
Tamara Rosenblum
tamara.rosenblum@canadianenergycentre.ca
Phone: (587) 391-1589
