Macroeconomic Impacts from Investing in Energy Efficiency in Canada : Province-by-Province Summary of Results

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1 Macroeconomic Impacts from Investing in Energy Efficiency in Canada : Province-by-Province Summary of Results November, 2014 The following are summary results of a study commissioned by Natural Resources Canada entitled Energy Efficiency: Engine of Economic Growth in Canada. The study was prepared by the Acadia Center, with assistance from Dunsky Energy Consulting and Economic Development Research Group. Background This study assessed the macroeconomic impacts of three scenarios of investment in energy efficiency (excluding the transportation sector) across Canada. Each scenario was designed to achieve specific levels of savings of electricity, natural gas and petroleum-based fuels. The tables below provide summary results in terms of impacts on, employment, fiscal revenue, and carbon emissions for the mid and high savings scenarios. Reported results are all net, i.e. they account for both gains and losses. Contents Illustration of Impact 1 Canada 2 British Columbia 3 Alberta 4 Saskatchewan 5 Manitoba 6 Ontario 7 Quebec 8 New Brunswick 9 Nova Scotia 10 Prince Edward Island 11 Newfoundland & Labrador 12 DUNSKY ENERGY CONSULTING 50 Ste-Catherine St. W., suite 420 Montreal, Québec, Canada H2X 3V4 (514) info@dunsky.ca

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3 CANADA $4,508 M/yr $8,519 M/yr Total impact (2012$) +$387.0 B +$582.5 B Max. annual impact (2012$) +$32.7 B/yr +$47.6 B/yr Total lifetime (job-yrs) +2.5 M j-y +3.9 M j-y Max. annual (EFTs) +210,000 jobs +303,500 jobs +$1,781 M/yr +$2,729 M/yr Lifetime Emission Reductions (e) -1,076 MT -1,652 MT Max. annual (e) -69 MT/yr -92 MT/yr Dunsky Energy Consulting 2

4 BRITISH COLUMBIA $493 M/yr $897 M/yr Total impact (2012$) +$67.7 B +$78.5 B Max. annual impact (2012$) +$4.9 B/yr +$5.5 B/yr Total lifetime (job-yrs) +418,000 j-y Max. annual (EFTs) +30,000 jobs +498,000 j-y +34,600 jobs +$172 M/yr +$220 M/yr Lifetime Emission Reductions (e) -60 MT -91 MT Max. annual (e) -3.2 MT/yr -4.2 MT/yr Dunsky Energy Consulting 3

5 ALBERTA $776 M/yr $1,490 M/yr Total impact (2012$) +$52.8 B +$79.9 B Max. annual impact (2012$) +$3.3 B/yr +$5.0 B/yr Total lifetime (job-yrs) +260,000 j-y Max. annual (EFTs) +16,700 jobs +402,000 j-y +23,000 jobs +$143 M/yr +$227 M/yr Lifetime Emission Reductions (e) -297 MT -463 MT Max. annual (e) MT/yr MT/yr Dunsky Energy Consulting 4

6 SASKATCHEWAN $185 M/yr $350 M/yr Total impact (2012$) +$10.5 B +$15.3 B Max. annual impact (2012$) +$0.7 B/yr +$1.0 B/yr Total lifetime (job-yrs) +73, ,000 Max. annual (EFTs) +4,300 jobs +6,000 jobs +$47 M/yr +$71 M/yr Lifetime Emission Reductions (e) -66 MT -101 MT Max. annual (e) -3.9 MT/yr -5.1 MT/yr Dunsky Energy Consulting 5

7 MANITOBA $156 M/yr $294 M/yr Total impact (2012$) +$10.7 B +$15.7 B Max. annual impact (2012$) +$730 M/yr +$1,100 M/yr Total lifetime (job-yrs) +84,000 j-y +123,000 j-y Max. annual (EFTs) +5,400 jobs +7,900 jobs +$55 M/yr +$85 M/yr Lifetime Emission Reductions (e) -51 MT -79 MT Max. annual (e) -3.1 MT -4.1 MT/yr Dunsky Energy Consulting 6

8 ONTARIO $1,834 M/yr $3,387 M/yr Total impact (2012$) +$111.7 B +$173.6 B Max. annual impact (2012$) +$9.4 B/yr +$14.4 B/yr Total lifetime (job-yrs) +801,000 j-y Max. annual (EFTs) +58,200 jobs +1,257,000 j-y +87,300 jobs +$425 M/yr +$690 M/yr Lifetime Emission Reductions (e) -384 MT -593 MT Max. annual (e) MT/yr MT/yr Dunsky Energy Consulting 7

9 QUEBEC $797 M/yr $1,598 M/yr Total impact (2012$) +$70.6 B +$117.7 B Max. annual impact (2012$) +$5.3 B/yr +$8.9 B/yr Total lifetime (job-yrs) +530,000 j-y Max. annual (EFTs) +38,400 jobs +877,000 j-y +62,300 jobs +$380 M/yr +$589 M/yr Lifetime Emission Reductions (e) -153 MT -221 MT Max. annual (e) MT/yr MT/yr Dunsky Energy Consulting 8

10 NEW BRUNSWICK $73 M/yr $146 M/yr Total impact (2012$) +$4.2 B +$5.9 B Max. annual impact (2012$) +$0.3 B/yr +$0.4 B/yr Total lifetime (job-yrs) +34,000 j-y +48,000 j-y Max. annual (EFTs) +2,000 jobs +2,900 jobs +$21 M/yr +$34 M/yr Lifetime Emission Reductions (e) -36 MT -57 MT Max. annual (e) -2.3 MT/yr -3.1 MT/yr Dunsky Energy Consulting 9

11 NOVA SCOTIA $116 M/yr $214 M/yr Total impact (2012$) +$9.2 B +$12.8 B Max. annual impact (2012$) +$0.6 B/yr +$0.9 B/yr Total lifetime (job-yrs) +73,000 j-y +99,000 j-y Max. annual (EFTs) +4,600 jobs +6,700 jobs +$37 M/yr +$51 M/yr Lifetime Emission Reductions (e) -25 MT -40 MT Max. annual (e) -2.5 MT/yr -3.4 MT/yr Dunsky Energy Consulting 10

12 PRINCE EDWARD ISLAND $13 M/yr $24 M/yr Total impact (2012$) +$0.5 B +$0.7 B Max. annual impact (2012$) +$0.04 B/yr +$0.05 B/yr Total lifetime (job-yrs) +5,000 j-y +8,000 j-y Max. annual (EFTs) +312 jobs +435 jobs +$4 M/yr +$7 M/yr Lifetime Emission Reductions (e) -5 MT -8 MT Max. annual (e) -0.3 MT/yr -0.4 MT/yr Dunsky Energy Consulting 11

13 NEWFOUNDLAND AND LABRADOR $65 M/yr $119 M/yr Total impact (2012$) +$3.4 B +$4.9 B Max. annual impact (2012$) +$0.2 B/yr +$0.3 B/yr Total lifetime (job-yrs) +27,000 j-y +40,000 j-y Max. annual (EFTs) +1,700 jobs +2,300 jobs +$14 M/yr +$21 M/yr Lifetime Emission Reductions (e) -16 MT -25 MT Max. annual (e) -0.8 MT/yr -1.2 MT/yr Dunsky Energy Consulting 12