To begin making the transition over the next 10 years, we maintain the federal government needs to develop a renewable energy development strategy. During this period, public investments totalling $4.65 billion need to be made to stimulate the development of renewable energy sources. Within this, a priority must be put on public sector owned and operated wind, solar, geothermal, and tidal power. The plan could also include more restricted development of small scale hydro and selected biofuels from biomass sources.
Averaged out over a ten year period, this public investment would amount to an annual federal expenditure of $4.65 billion, less than 2 per cent of the annual federal budget. Similarly, the Canadian government must end subsidies to the oil and gas industry that heavily favour fossil fuel-based energy development at the expense of renewables. This 4.65 billion dollar investment will create 92,000 full-time jobs for a year (or person job years).