Canada's Electrification Push Could Add $3 Trillion to Economy by…

Event summary

New economic modelling shows doubling Canada's electricity supply could add $3 trillion to the economy by 2050.
The electrified economy scenario could support 1.6 million additional jobs in 2050.
Every $1 invested in the power sector could deliver $5 in economic benefits compared to business as usual.
The report identifies four priorities: sustaining political commitment, mobilizing capital, building workforce, and securing supply chains.

The big picture

The report validates the economic direction of the proposed federal electricity strategy, Powering Canada Strong, highlighting significant gains in investment, employment, and GDP. The findings underscore the need for coordinated efforts across jurisdictions to attract new investment and jobs, positioning Canada as a leader in the global electrification race. The scale of potential economic benefits—$3 trillion by 2050—makes this a critical inflection point for Canada's energy and economic future.

What we're watching

Political Alignment: Whether federal, provincial, and municipal governments can sustain coordinated efforts to finalize and implement the Powering Canada Strong strategy.
Capital Mobilization: The pace at which investment tax credits and public-finance institutions can attract sufficient capital to keep financing costs and electricity rates affordable.
Workforce Scaling: How Canada expands training and improves labour mobility to meet the workforce demands of a doubled electricity grid and resulting economic growth.