Federal funding for clean energy tech research to double to $775M by 2020

San Francisco, CA – Canada’s federal government is planning to double its funding for clean energy and clean technology research and development, increasing from $387 million in 2014-2015 to $775 million by 2020.

Jim Carr, the minister of natural resources, made the announcement during the inaugural Mission Innovation Ministerial in San Francisco. The federal government joined Mission Innovation in November 2015 with 20 other nations and the European Union as part of a global effort to accelerate clean energy innovation with the goal of making clean energy widely affordable.

The Mission Innovation meeting was held during the 7th Clean Energy Ministerial (CEM). At the CEM, Minister Carr outlined several Canadian initiatives addressing climate change, such as government support for schools and hospitals to adopt higher-efficiency lighting, and encouraging the adoption of more climate-friendly cooling products.

The CEM’s CleanTech Solutions Showcase, held alongside the government meetings, promoted six Canadian companies to potential customers and investors.

“Homegrown emission-reducing and clean energy technologies play an increasingly important role in Canada’s economic growth as we support the global transition to a low-carbon economy,” said Carr. “Government and private sector investments in clean energy and technology research and development will help us meet our climate change objectives, increase Canada’s competitiveness and support employment opportunities across the country. The progress we are already making on global clean energy cooperation in making clean energy affordable bodes well for the future as we advance common energy, environment and economic goals.”