Our goals included: putting the shipping sector on the radar of zero-emission energy producers and suppliers as they assess and plan to meet demand and to look for new offtakers and local-use cases; communicating the needs of the sector in advance of the next federal budget; supporting the implementation of the Green Shipping Corridor Fund; and building an ambitious catch-up agenda focused on both. [...] In the early stages of the adoption of zero-emission fuels and new technologies in the maritime sector, cost-for-difference contracts, tax incentives, and direct subsidies are needed to de-risk investments for fuel producers and vessel/fleet operators. [...] Role for Governments to Finance and De-Risk Zero-Emission Investments Many people raised the unprecedented role of the United States Inflation Reduction Act in closing the green premium and spoke in support of a legitimate role for public financing to close the funding gap for zero-emission projects. [...] Financial institutions and government agencies also understand the need to support technology developers and original equipment manufacturers in advancing projects through the final stages of commercialization, known as the “valley of death.” Land Availability: A Barrier to Infrastructure Buildout A major challenge in the context of scaling innovation and planning to accommodate the infrastructure. [...] Renewable Energy is the Foundation of the Maritime Energy Transition Participants indicated that the availability of affordable renewable electricity on the Pacific West Coast is key to the maritime energy transition.
- Pages
- 28
- Published in
- Canada
