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Understanding the influence of energy technology innovation in reducing a country's greenhouse gas emissions requires a systematic review to characterize the existing system. A comprehensive data review of available financing mechanisms and investments by government and industry is undertaken for the case of Canada, coupled with an organized examination of existing international, federal, and regional climate policies that advance innovation. Results indicate that investments from early research and development through to capital expenditures are heavily weighted towards fossil fuels. Though federal efforts to meet international commitments have been unsuccessful, regions implementing high carbon fuel phase-out, renewable portfolio standards, and feed-in-tariffs were found to be successful in reducing emissions. Financing for clean energy projects is readily available; however, there is no complete database available for investors to discover these opportunities. To enhance clean energy innovation in Canada and enable success in emissions reductions, we suggest that investments (from research and development to capital expenditures) and regional policies should be aligned with federal commitments, along with clear communication of available financing to attract clean energy investors. Our approach to a systematic review is broadly applicable to other regions where there is interest in understanding and improving the role of innovation in reducing greenhouse gas emissions, particularly in countries with federalist political systems and large fossil fuel reserves.
Jordaan et al. (Tue,) studied this question.