Opinion: The bill is coming for net zero — and it’s big, both politically and economically – by Shannon Joseph (Financial Post – October 15, 2024)

https://financialpost.com/

Net zero talk is all about climate dividends and green opportunity. It’s time to get real about what doubling the electricity supply will cost

Governments across Canada and around the world have been promoting both electrification and net zero. That’s fine, go for it. But please stop saying it’s going to be cheap. It isn’t. And voters will find out.

Today, electricity fulfills about 20 per cent of our energy needs. That means 80 per cent of the energy Canadians rely on is from direct use of natural gas, refined petroleum products and other fuels. What is being proposed in Canada’s electricity strategy is not just fewer or even no emissions from our electricity systems. It is to have electricity provide that other 80 per cent.

This is a challenge for two reasons. First, some things — including many industrial processes — simply can’t be done by electricity. Second, the electricity needed to do the rest that could be possible does not exist today. And we are not even close to having it. Electricity is a technology that mobilizes electrons by using a fuel (moving water or wind, uranium, natural gas, coal, oil, sunshine).

For the rest of this column: https://financialpost.com/opinion/net-zero-bill-big-politically-economically