Geothermal Energy In Canada Essay

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In the region of America, Canada as a country has a lot of advantages regarding Foreign Direct Investments. Canada has a welcoming business environment and the best country to do business according to Forbes and Bloomberg. It also has a strong growth record with high rate of economic growth. Having unparalleled market access, investors will have assured access to both NAFTA (North American Free Trade Agreement) and EU. With the world economic forum declaring Canada’s banking system to be the soundest in the world, thus having financial stability. . Canada has a big geothermal potential industry. Some 5000 MW of potential power exists to be tapped and most resources are in the western side. There is a huge potential to generate enough clean, low-cost electricity from geothermal sources to power 5 million homes. Canada having that much potential does not produce a single unit of geothermal energy which comes from hot water and steam produced by heat deep below the earth’s surface. Electricity produced from …show more content…

Ironically Canada has an enormous amount of geothermal developers but most of the companies are really active in the US, the world’s biggest producer of geothermal energy. The use of geothermal energy helps in creating a clean environment as it does not create any pollution. The geothermal source of energy can be used directly as done in ancient times for taking bath, heating homes though the initial investment is quite big but in the long run with huge cost savings it proves quite useful. According to A.T Kearney report Canada is in the top 10of the 2013 FDI Confidence Index ranking at the 4thposition.It is a safe haven for FDI. Manufacturing is the prime target, attracting one-third of FDI. Canada’s natural resource boom is attracting a wave of interest and is also has the world’s largest reserves in which private organisations can

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