Study Highlights Potential for Tidal Energy in Canada
Over the next 25 years, Nova Scotia’s tidal energy industry could contribute up to $1.7 billion to the province’s gross domestic product (GDP), create up to 22,000 full time positions and generate as much as $815 million in labour income, according to a recently published study. These impacts are largely concentrated in Nova Scotia with spill-over effects in the Atlantic Region and elsewhere in Canada.
The study, “Value Proposition for Tidal Energy Development in Nova Scotia, Atlantic Canada and Canada,” was commissioned by the Offshore Energy Research Association of Nova Scotia (OERA). It shows tidal energy could reduce our dependence on fossil fuels and create a new industry that offers significant socio-economic benefits across the nation.
The Study describes the potential opportunity that could result in developing a tidal energy industry in Canada. More specifically, the value proposition examines the economic potential that could be realized over a 25-year period to 2040 and how that financial valuation changes under different factors and drivers.
Download a pdf of the details.
