Marine Renewables Canada (MRC) has submitted its proposals regarding the contribution of marine renewable energy for Canada’s new Innovation Agenda.
The Government of Canada through Innovation, Science, and Economic Development (ISED), has been consulting on the development of its Innovation Agenda.
As the country’s association representing wave, tidal, and river current technology and project developers, MRC has provided its suggestions on how marine renewable energy can contribute to climate action.
Namely, to support marine renewable energy development and ensure it plays a role in addressing clean growth and Canada’s climate challenges, MRC has proposed several actions to be taken.
MRC suggests the adoption of a national strategy to exploit Canada’s advantage in renewable electrification to meet climate action targets while developing new economic opportunities.
Within that strategy, MRC proposes the establishment of a collaborative working group of government, industry, and researchers to address the challenges in developing the marine renewables industry, as well as making the marine renewable energy cluster a focus in the Innovation Agenda, bringing together existing industry strengths to develop tools and programs that focus on cost reduction.
Also, MRC advises on establishing strategies and support mechanisms such as innovation funding, improving access to finance, developing tools for market creation and putting a price on carbon.