This week, the BC government announced an unprecedented investment in expanding the province’s green energy grid.
Over the next 10 years, they are allocating $36 billion to BC Hydro to take on construction projects which will create jobs in the power sector and improve the overall clean energy economy.
Premier David Eby announced the historic investment at a natural resources conference in Prince George on Tuesday, January 16th.
“We must expand our electrical system like never before, to power industrial development, to power our homes and businesses, to power our future,” said Premier Eby.
“Clean, affordable energy will help us meet that opportunity, while reducing pollution, securing good-paying jobs and creating new opportunities for our growing economy.”
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BC Hydro says the funding will go toward community and regional infrastructure investments throughout the province between now and 2034.
Notably, prior to this announcement, their budget called for just $24 billion and $10 billion will be allocated to their emissions-reduction projects when previously they had only called for $1 billion.
They predict that this new increase to their budget will help create and support between 10,500 to 12,500 jobs annually.
Due to the need for population growth and the subsequent housing construction that is needed across the province, more energy is needed and the Province is trying to give people increased access to cleaner energy as they transition away from fossil fuel-based energy sources.
“We’re taking action to build a clean energy future and create thousands of construction jobs for skilled workers as major infrastructure projects like Site C reach completion,” said Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation.
Site C is a hydroelectric dam project that has been in the works near Fort St. John that employs over 4,000 construction workers and will be able to provide much of BC Hydro’s grid with cleaner energy once completed.
“Together with our first call for power in over 15 years, BC Hydro’s new capital plan – with almost $4 billion in spending every year for the next decade – will drive economic growth for communities all over the province and ensure households and businesses can power up with clean, reliable and affordable electricity.”
In addition to this $36 billion investment, Premier Eby also announced that the Province is going to be streamlining the process for in-demand industries to gain access to clean energy in BC.
