Alberta’s economy has long been powered by the production and export of its energy resources. Today, as the energy transition continues to unfold, the province is also uniquely positioned to compete and excel in new markets aligned with low-carbon pathways. This initiative explores the most promising energy opportunities that offer export growth potential and where Alberta can capitalize its competitive advantages to lead in an ever evolving global economy.
A low-carbon future can present enormous economic opportunity and prosperity for Alberta, and equally as important is understanding what this can and should look like. With existing expertise in traditional energy industries, Alberta is in a strong position to leverage its knowledge base, workforce, and abundance of natural resources to compete in new and emerging sectors. The challenge is to identify and pursue energy solutions that not only align with global decarbonization goals but also capitalize on Alberta’s unique strengths in innovation, skills, and potential access to interprovincial and/or international markets.
While various studies have examined sectoral opportunities at national and provincial levels with some highlighting relevant emerging industries for the Albertan economy (e.g., hydrogen, CCUS, and chemicals), there is a need to strengthen analysis of Alberta’s economy and energy profile.
The Lab, in partnership with the Smart Prosperity Institute and the Transition Accelerator undertook a research-informed study to identify the most promising energy solutions where Alberta can thrive energy markets transform both domestically, and globally.
By evaluating market potential, the province’s competitive advantages, and innovation capabilities, the project aims to strengthen the analytical evidence base for why net-zero opportunities represent jobs, prosperity and wealth for the province. It seeks to present a clear path highlighting the emerging industries, technologies, and opportunities that make economic sense irrespective of whether the term “net-zero” is applied or not.
The analysis looks beyond Alberta’s natural resources, focusing on opportunities to move down value chains toward products, technologies, and services. By honing in on export potential this study is about targeting markets where growth is expected or emerging opportunities are anticipated to scale.
However, with the Lab’s core tenet of supporting people and communities through the energy transition, it wasn’t enough to stop there. A phased approach is being undertaken to test the findings and invite the insights of ecosystem actors at both the regional and provincial levels. Working at the regional level, and with rural Alberta communities, can enable connectivity within pockets of the province to capitalize on these opportunities as they emerge.
The project began with a comprehensive review of existing research, noting that few organizations have examined net-zero opportunities for Alberta from a competitiveness and market lens. The analysis will be enriched and validated through expert interviews, engagement with Alberta’s regional innovation networks, community coalitions, network system-sensing, consultations with municipal leaders and with policymakers.
Following that, a third phase is planned to refine policy recommendations, zeroing in on the opportunities with high-economic potential and those that align with Alberta’s innovation strengths and ability to export. The Lab has a strong record of supporting emerging ecosystems, having contributed to the impact and growth of a number of industries in the past decade. By leveraging the Lab’s convening power and innovative processes we aim to enhance alignment among ecosystem leaders around identified opportunities, and dismantle barriers to success.
The insights from the study, combined with findings from policy refinement and regional engagement efforts will pinpoint where, with our support, promising economic development opportunities can take root. These insights can then be leveraged to shape future innovation challenges, ensuring the Lab’s support for the emerging opportunities poised to make strong shifts towards our future energy system.
The study has also been shaped by an outstanding Advisory Committee that includes some of Alberta’s most prominent experts on energy innovation, economic development, and sustainability.
Validation: Preliminary results are now being validated through ongoing consultation with stakeholders and rights holders
Regional engagements: Conversations across the province where we’ll share preliminary findings.
Report release: Stay tuned for the final analysis and recommendations on Alberta’s pathway to a competitive net-zero future in the coming months.
Pincher Creek and area, in partnership with the Energy Futures Lab and Southern Alberta Sustainable Community Initiative (SASCI), came together to position Southern Alberta for success in emerging market opportunities.
Through a series of professionally facilitated sessions, we brought regional leaders and representatives together to explore these topics with an online orientation and an in-person workshop in Pincher Creek in October 2024.
Along with other energy and local champions in Southern Alberta, the group explored how to leverage these opportunities to build the region’s competitiveness in a way that benefits the region and its people. Together, participants co-created a set of strategic initiatives and actionable opportunities to advance the region’s economic future.
Please contact
Keren Perla
Project Director, Alberta’s Clean Competitiveness
[email protected]
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