Canada Solar Photovoltaic (PV) Market Analysis by Size, Installed Capacity, Power Generation, Regulations, Key Players and Forecast to 2035

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

Canada Solar Photovoltaic (PV) Market Report Overview

The cumulative installed capacity for solar PV in Canada was 5 GW in 2022. It is expected to achieve a CAGR of more than 8% during 2022-2035. The Canada Solar Photovoltaic (PV) market research report offers comprehensive information and understanding of the solar PV market in Canada. The report discusses the renewable power market in the country and provides forecasts up to 2035.

Canada Solar PV Market Outlook, 2022-2035 (GW)

Canada Solar PV Market Outlook, 2022-2035 (GW)

Buy the Full Report for More Insights into Canada’s Solar PV Market Forecast

Download a Free Report Sample

The report highlights installed capacity and power generation trends from 2010 to 2035 in the country’s solar PV market. Detailed coverage of the renewable energy policy framework governing the market is also provided in the report. The report provides company snapshots of some of the major market participants as well.

Cumulative Installed Capacity (2022) 5 GW
CAGR (2022-2035) >8%
Historical Period 2010-2022
Forecast Period 2023-2035
Key Deal Types ·       Equity Offerings

·       Acquisition

·       Debt Offerings

·       Asset Transactions

·       Private Equity

·

·       Partnerships

·       Venture Financing

Key Active Plants ·       Perimeter Claresholm Solar PV Park

·       Sol-Luce Kingston Solar PV Park

·       Grand Renewable Energy Solar PV Park

·       Sarnia Solar Farm

·       Enchant Solar PV Park

Key Companies ·       Northwest Territories Power Corp (NTPC)

·       Northland Power Inc

·       Enbridge Inc

·       Canadian Solar Inc

·       Silfab Solar Inc

·       Heliene Inc

Enquire & Decide Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase.

Canada Solar PV Market Segmentation by Deal Types

The key deal types in the Canadian solar photovoltaic market are debt offerings, venture financing, acquisition, equity offerings, partnerships, private equity, and asset transactions. Most of the deals were closed by equity offerings in the solar PV market of Canada in 2022.

Canada Solar PV Market Analysis by Deal Types, 2022 (%)

Canada Solar PV Market Analysis by Deal Types, 2022 (%)

Buy the Full Report for More Deal Type Insights into Canada Solar PV Market

Download a Free Report Sample

Canada Solar PV Market - Major Active Plants

Some of the major active plants in the Canada solar photovoltaic market are Perimeter Claresholm Solar PV Park, Sol-Luce Kingston Solar PV Park, Grand Renewable Energy Solar PV Park, Sarnia Solar Farm, and Enchant Solar PV Park among others. As of 2023, Perimeter Claresholm Solar PV Park has the highest total capacity.

Canada Solar PV Market Analysis by Active Plants, 2023 (%)

Canada Solar PV Market Analysis by Active Plants, 2023 (%)

Buy the Full Report for More Active Plant Insights into Canada Solar PV Market

Download a Free Report Sample

Canada Solar PV Market – Competitive Landscape

The key companies in the Canada solar photovoltaic market are:

  • Northwest Territories Power Corp (NTPC)
  • Northland Power Inc
  • Enbridge Inc
  • Canadian Solar Inc
  • Silfab Solar Inc
  • Heliene Inc

 Northwest Territories Power Corp (NTPC): It, a subsidiary of Northwest Territories Hydro Corp, is an integrated power utility. It generates, transmits, and distributes electricity and heat. The company produces energy from hydro, diesel, natural gas, and solar sources. NTPC also promotes power conservation through technical know-how and rebates. It serves customers across the Territory except for Sambaa K’e, Kakisa, and Fort Providence. The company’s service area includes communities that are only accessible by air, river barge, or winter roads. NTPC is headquartered in Hay River, Northwest Territories, Canada

Canada Solar PV Market Analysis by Companies, 2023

Canada Solar PV Market Analysis by Companies, 2023

Buy the Full Report for More Company Insights into the Canada Solar PV Market

Download a Free Report Sample

Segments Covered in The Report

Canada Solar PV Market Deal Types Outlook (%, 2022)

  • Debt Offerings
  • Venture Financing
  • Acquisition
  • Equity Offerings
  • Partnerships
  • Private Equity
  • Asset Transactions

Scope

This report provides:

  • A brief introduction to global carbon emissions and global primary energy consumption.
  • An overview of the country’s renewable power market, highlighting installed capacity trends, generation trends, and installed capacity split by various renewable power sources.
  • Detailed overview of the country’s solar PV market with installed capacity and generation trends, and major active and upcoming solar PV projects.
  • Deal analysis of the country’s solar PV market.
  • Key policies and regulatory framework supporting the development of solar PV.
  • Snapshots of some of the major market participants in the country.

Reasons to Buy

  • The report will enhance your decision-making capability in a more rapid and time-sensitive manner.
  • Identify key growth and investment opportunities in the country’s solar PV market.
  • Facilitate decision-making based on strong historical and forecast data for the solar PV market.
  • Position yourself to gain the maximum advantage of the industry’s growth potential.
  • Develop strategies based on the latest regulatory events.
  • Identify key partners and business development avenues.
  • Understand and respond to your competitors’ business structure, strategy, and prospects.

Northwest Territories Power Corp
Northland Power Inc
Enbridge Inc
Canadian Solar Inc
Silfab Solar Inc
Heliene Inc

Table of Contents

  • 1. Introduction
  • 1.1 Carbon Dioxide Emissions, Global, 2001–2022
  • 1.2 Primary Energy Consumption, Global, 2001–2022
  • 1.3 Report Guidance
  • 2. Renewable Power Market, Canada
  • 2.1 Renewable Power Market, Canada, Installed Capacity, 2010-2035
  • – Renewable Power Market, Canada, Cumulative Installed Capacity by Source, 2010-2035
  • – Renewable Power Market, Canada, Cumulative Installed Capacity Share by Source, 2022 and 2035
  • – Renewable Power Market, Canada, Net Capacity Additions by Source, 2023-2035
  • – Renewable Power Market, Canada, Capacity Growth by Source, 2022-2035

  • 2.2 Renewable Power Market, Canada, Power Generation, 2010-2035
  • – Renewable Power Market, Canada, Power Generation by Source, 2010-2035
  • – Renewable Power Market, Canada, Growth in Power Generation by Source, 2022-2035

  • 3. Solar PV Market, Canada
  • 3.1 Solar PV Market, Canada, Installed Capacity, 2010-2035
  • 3.2 Solar PV Market, Canada, Power Generation, 2010-2035
  • 3.3 Solar PV Market, Canada, Market Size, 2010-2030
  • 3.4 Solar PV Market, Canada, Power Plants
  • – Solar PV Market, Canada, Major Active Plants
  • – Solar PV Market, Canada, Snapshot of Upcoming Plants
  • – Solar PV Market, Canada, Key Under-construction Projects

  • 3.5 Solar PV Market, Canada, Deal Analysis, 2022
  • – Solar PV Market, Canada, Deal Volume vs. Deal Value, 2010–2022
  • – Solar PV Market, Canada, Split by Deal Type, 2022

  • 4. Solar PV Module Market, Canada, 2012-2026
  • 4.1 Solar PV Module Market, Canada, Market size by Type, 2012-2026
  • – Solar PV Module Market, Canada, Crystalline Modules, Market size, 2012-2026
  • – Solar PV Module Market, Canada, Thin-film Modules, Market size, 2012-2026

  • 5. Renewable Energy Policy Framework, Canada
  • 5.1 Canada Power Market, Regulatory Scenario
  • – Renewable Energy Market, Overview
  • – Renewable Energy Targets
  • – Policy Snapshot

  • 5.2 Federal Programs, Canada
  • – Investment Tax Credits
  • – New Federal Tax Policy
  • – New Carbon Tax
  • – Federal Incentive Programs
  • – Hydrogen Energy

  • 5.3 Renewable Energy Policy Framework, Alberta
  • – Climate Leadership Plan (CLP)
  • – Renewable Energy Program (REP) – Auctions
  • – Net Metering
  • – Technology Innovation and Emissions Reduction (TIER) Regulation
  • – Financial Incentives and Policy Support for Solar
  • Alberta Municipal Solar Program (AMSP)
  • – Financial Incentives and Policy Support for Wind
  • Market and Operational Framework for Wind Integration

  • 5.4 Renewable Energy Policy Framework, British Columbia
  • – Clean Energy Act
  • – Hydro Net Metering
  • – Climate Change Accountability Act
  • – CleanBC Plan
  • – Carbon pricing
  • – Innovative Clean Energy Fund
  • – B.C Hydrogen Strategy

  • 5.5 Renewable Energy Policy Framework, Manitoba
  • – Climate and Green Plan
  • – Clean Energy Strategy
  • – Residential Earth Power Loan
  • – Green Energy Equipment Tax Credit

  • 5.6 Renewable Energy Policy Framework, New Brunswick (NB)
  • – Climate Change Action Plan
  • – New Brunswick Regulation 2015-60
  • – Renewable Portfolio Standard
  • – Net Metering
  • – Community Renewable Energy
  • – Large industrial renewable energy purchase program

  • 5.7 Renewable Energy Policy Framework, Newfoundland and Labrador
  • – 2007 Energy Plan
  • Net Metering
  • – Biogas Electricity Generation Program

  • 5.8 Renewable Energy Policy Framework, Northwest Territories (NWT)
  • – 2030 Energy Strategy: The Energy Action Plan (2018-2021)
  • – Arctic Energy Alliance (AEA)
  • – Net Metering

  • 5.9 Renewable Energy Policy Framework, Nova Scotia
  • – Renewable Electricity Plan, 2010
  • – Renewable Electricity Standard Regulations
  • – Renewable Energy Standard 2020
  • – Updated Renewables Target
  • – Business Plan 2021-2022
  • – Cap and Trade Program
  • – Net Metering
  • – Solar Tax
  • – Renewable to Retail Program
  • – Offshore Wind Auctions
  • – Marine Renewable Energy Act
  • – Solar Energy Programs and Projects
  • Solar Electricity for Community Buildings Program
  • SolarHomes Program
  • – Community Economic Development Investment Fund (CEDIF)

  • 5.10 Renewable Energy Policy Framework, Ontario
  • – Green Energy Repeal Act, 2018
  • – Bill 34
  • – Long Term Energy Plan, 2017
  • – Climate Change Mitigation and Low-carbon Economy Act
  • – Net Metering

  • 5.11 Renewable Energy Policy Framework, Prince Edward Island (PEI)
  • – Provincial Energy Strategy (2016)
  • – Tax exemption
  • – Clean Energy Price Incentive
  • – Net metering
  • – Solar Electric Rebate Program
  • – Incentives
  • – Energy Saving Bonds
  • – Climate Change Action Plan 2018-2023

  • 5.12 Renewable Energy Policy Framework, Quebec
  • – Energy Policy 2030
  • – 2018-2023 Action Plan
  • – Net Metering
  • – Auctions

  • 5.13 Renewable Energy Policy Framework, Saskatchewan
  • – Renewable Energy Targets
  • – Request for qualification (RFQ) & Request for proposal (RFP) Process
  • – Net Metering Program

  • 6. Solar PV Power Market, Canada, Company Profiles
  • 6.1 Northwest Territories Power Corp
  • – Northwest Territories Power Corp – Company Overview
  • – Northwest Territories Power Corp – Business Description
  • – Northwest Territories Power Corp – SWOT Analysis
  • – Northwest Territories Power Corp – Major Products and Services
  • – Northwest Territories Power Corp – Head Office

  • 6.2 Northland Power Inc
  • – Northland Power Inc – Company Overview
  • – Northland Power Inc – Business Description
  • – Northland Power Inc – SWOT Analysis
  • – Northland Power Inc – Major Products and Services
  • – Northland Power Inc – Head Office

  • 6.3 Enbridge Inc
  • – Enbridge Inc – Company Overview
  • – Enbridge Inc – Business Description
  • – Enbridge Inc – SWOT Analysis
  • – Enbridge Inc – Major Products and Services
  • – Enbridge Inc – Head Office

  • 6.4 Canadian Solar Inc
  • – Canadian Solar Inc – Company Overview
  • – Canadian Solar Inc – Business Description
  • – Canadian Solar Inc – SWOT Analysis
  • – Canadian Solar Inc – Major Products and Services
  • – Canadian Solar Inc – Head Office

  • 6.5 Silfab Solar Inc
  • – Silfab Solar Inc – Company Overview
  • – Silfab Solar Inc – Major Products and Services
  • – Silfab Solar Inc – Head Office

  • 6.6 Heliene Inc
  • – Heliene Inc – Company Overview
  • – Heliene Inc – Major Products and Services
  • – Heliene Inc – Head Office

  • 7. Appendix
  • 7.1 Abbreviations
  • 7.2 Market Definitions
  • – Power
  • – Renewable Power
  • – Installed Capacity
  • – Electricity Generation
  • – Electricity Consumption

  • 7.3 Methodology
  • – Coverage
  • – Secondary Research
  • – Primary Research
  • – Modelling and Forecasting
  • Contact Us

Table

Table 1: Carbon Dioxide Emissions from Energy Consumption, Global, 2001–2022

Table 2: Primary Energy Consumption, Global, 2001–2022

Table 3: Renewable Power Market, Canada, Cumulative Installed Capacity by Source (GW), 2010-2035

Table 4: Renewable Power Market, Canada, Cumulative Installed Capacity Share by Source (%), 2022 and 2035

Table 5: Renewable Power Market, Canada, Net Capacity Additions by Source (GW), 2023-2035

Table 6: Renewable Power Market, Canada, Capacity Growth by Source, 2022-2035

Table 7: Renewable Power Market, Canada, Power Generation by Source (TWh), 2010-2035

Table 8: Renewable Power Market, Canada, Growth in Power Generation by Source, 2022-2035

Table 9: Solar PV Market, Canada, Installed Capacity (GW), 2010-2035

Table 10: Solar PV Market, Canada, Power Generation (TWh), 2010-2035

Table 11: Solar PV Market, Canada, Market Size ($M), 2010-2030

Table 12: Solar PV Market, Canada, Major Active Plants

Table 13: Solar PV Market, Canada, Snapshot of Upcoming Plants

Table 14: Solar PV Market, Canada, Key Under-construction Projects

Table 15: Solar PV Market, Canada, Deal Volume vs. Deal Value ($M), 2010–2022

Table 16: Solar PV Market, Canada, Deals by Type, 2022

Table 17: Solar PV Module Market, Canada, Crystalline Modules, Market Size ($M), 2012-2026

Table 18: Solar PV Module Market, Canada, Thin-film Modules, Market Size ($M), 2012-2026

Table 19: Key Regulatory Authorities, Canada

Table 20: Renewable Energy Targets, Federal and Provincial, Canada

Table 21: Policy Snapshot, Canada, 2022

Table 22: Hydrogen Energy Strategy, Canada, 2020-2050

Table 23: Rebate Per Watt of Total Solar PV Installed Capacity (CAD/W), Alberta, 2022

Table 24: Investments for 2030 Energy Strategy by Strategic Objective, NWT, 2018-2021

Table 25: Northwest Territories Power Corp, Major Products and Services

Table 26: Northland Power Inc, Major Products and Services

Table 27: Enbridge Inc, Major Products and Services

Table 28: Canadian Solar Inc, Major Products and Services

Table 29: Silfab Solar Inc, Major Products and Services

Table 30: Heliene Inc, Major Products and Services

Table 31: Abbreviations

Figures

Figure 1: Carbon Dioxide Emissions from Energy Consumption, Global, 2001–2022

Figure 2: Primary Energy Consumption, Global, 2001–2022

Figure 3: Renewable Power Market, Canada, Cumulative Installed Capacity by Source (GW), 2010-2035

Figure 4: Renewable Power Market, Canada, Cumulative Installed Capacity Share by Source (%), 2022 and 2035

Figure 5: Renewable Power Market, Canada, Net Capacity Additions by Source (GW), 2023-2035

Figure 6: Renewable Power Market, Canada, Capacity Growth by Source, 2022-2035

Figure 7: Renewable Power Market, Canada, Power Generation by Source (TWh), 2010-2035

Figure 8: Renewable Power Market, Canada, Growth in Power Generation by Source, 2022-2035

Figure 9: Solar PV Market, Canada, Installed Capacity (GW), 2010-2035

Figure 10: Solar PV Market, Canada, Power Generation (TWh), 2010-2035

Figure 11: Solar PV Market, Canada, Market Size ($M), 2010-2030

Figure 12: Solar PV Market, Canada, Snapshot of Upcoming Plants

Figure 13: Solar PV Market, Canada, Deal Volume vs. Deal Value ($M), 2010–2022

Figure 14: Solar PV Market, Canada, Split by Deal Type (%), 2022

Figure 15: Solar PV Module Market, Canada, Crystalline Modules, Market Size ($M), 2012-2026

Figure 16: Solar PV Module Market, Canada, Thin-film Modules, Market Size ($M), 2012-2026

Frequently asked questions

Canada Solar Photovoltaic (PV) Market Analysis by Size, Installed Capacity, Power Generation, Regulations, Key Players and Forecast to 2035 thematic reports
Currency USD
$995

Can be used by individual purchaser only

$1,990

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Canada Solar Photovoltaic (PV) Market Analysis by Size, Installed Capacity, Power Generation, Regulations, Key Players and Forecast to 2035 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Canada Solar Photovoltaic (PV) Market Analysis by Size, Installed Capacity, Power Generation, Regulations, Key Players and Forecast to 2035 in real time.

  • Access a live Canada Solar Photovoltaic (PV) Market Analysis by Size, Installed Capacity, Power Generation, Regulations, Key Players and Forecast to 2035 dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.