This report identifies the possibility of BC becoming a world leader in Power Technology (innovations that improve the way power is created, delivered and used). It outlines a vision to grow the Power Technology sector in BC through targeted innovation and commercialization. Included in the report are general macro trends on energy supply needs and sustainability issues. The report also includes introductions to concepts like the smart grid and identifies some of BC’s existing strengths in this area.
Five worldwide market opportunities for BC are identified:
- Remote power solutions (integrated solutions that combine renewables and storage)
- Sustainable urban practices (including optimizing energy use in dense urban areas)
- Smart urban transport (engines, vehicle systems, new fuels)
- Smart grid solutions (hardware, software to automate power grids)
- Large scale clean, green power production (alternative power production, independent power producers).
These five opportunities are then further examined in a table that offers definitions, examples of current technologies in the field, BC assets and advantages, and the needs to move forward.
Lastly, the report identifies four strategies to move the industry forward:
- Leadership – establish leadership, targets and resources for the five worldwide opportunities
- Commercialization – speed early commercialization with support for testing, demos, pilots, incentives for local demand
- Growth – access global markets through regional branding, industry coordination and outreach
- Innovation – develop streams of research in the five areas through with support for Centres of Innovation and education programs