Electrified Economy Could Add Trillions to Canadian GDP by 2050

New research published by New Economy Canada and the Canadian Chamber of Commerce finds that electrifying Canada's economy could add $3 trillion to its GDP by 2050.

According to the study, which was based on macroeconomic modelling by the Open Insights initiative, doubling Canada's electricity supply and putting more clean power to work across the economy could support 1.6 million additional jobs in 2050 and deliver $5 in economic benefits for every $1 invested in the power sector.

The report, titled 'Powering Canada's Growth: The Economic Case for an Electrified Economy,' identifies four priorities to achieve this goal: sustaining political commitment and public investment, mobilizing capital at scale, building the workforce alongside the grid, and securing the supply chain.