Canadian cleantech industries, already hit by economic downturn over the last year, are now struggling to compete with U.S. firms being supported by federal stimulus funds, according to a Reuters report.
The U.S. has designated about $59 billion in economic stimulus to be invested in clean energy to create jobs and and a stronger cleantech industry. By comparison, the Canadian federal government allocated C$1.5 billion for a Renewable Power program in 2007 and has included C$1 billion over five year for green infrastructure in its 2009 budget.
As a result, cleantech companies looking to break into the North American market are likely to start in the U.S.
"The U.S. has sent a very strong signal that renewable energy is going to play a central role in both energy-environment and economic recovery strategies. We don’t have the same signals here federally," Robert Hornung, president of the Canadian Wind Energy Association (CanWEA) told Reuters.
Read the full report at the link below.
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