Clean Tech In BC: the Stephen Whipp Financial September newsletter
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This summer, the Vancouver Sun posted a piece saying that B.C. can meet its clean energy needs with six factors. When I saw “clean energy”, I was excited. How wonderful will it be to move away from fossil fuels and towards our carbon reduction goals? However, the BC government classified LNG as clean energy in 2012 and it is a core component of the clean energy play. For me, it really boggles the mind. Shale gas is hardly low-emission.
With BC’s growing clean technology sector, it is a wonder why more of the $26 billion in federal subsidies for the oil and gas industry doesn’t find its way to greener pastures. Add that to the recent $116M tax break announcement by BC for LNG companies, and we are left with a hefty amount. However, a 2011 KPMG report cites 202 clean tech organizations in BC. I’m pleased to add that at least 26 of them are in Victoria. With the total employees for 2011 estimated to be 8,400 with an average salary of $77,000, this is no minor player.
Speaking of clean technology, in the US, commercial buildings account for nearly 20% of US energy consumption and 12% of the nation’s greenhouse gas emissions. Some basic adjustments, like motion-sensor lights, can have positive effects. We take advantage of these handy gadgets in our own office in times when the natural daylight isn’t quite bright enough. Victoria’s Guy Dauncey will be giving a talk with the Emerging Green Builders on the future of green buildings on October 3rd.
BC seems primed for increased green energy alternatives, if the controversy around the upcoming rate hike from BC Hydro and the proposed coal mine in the Sacred Headwaters is any indication. We have listed some great BC resources below to help you learn more about BC’s clean and green technology future. If generating income from adding clean tech companies to your investments piques your interest, give us a call at 250-405-3550.
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