how much could be re-invest in the Yukon's economy if we used locally produced energy?
Based on 2009 energy usage data for the Yukon, and current fossil fuel prices, we lost:
- $30 million / year in heating oil (26 million litres were used at a current price of $1.17/L);
- $7 million / year in propane for heating (7.2 million litres were used at a current price of $0.98/L);
- $2.5 million / year in diesel to generate electricity (2.5 million litres at an assumed price of $1/L); and
- $114 million / year in vehicle fuel (87.5 million litres were used at a current price of $1.299/L).
Looking at the $37 million spent on space heating alone ($30 million in oil and $7 million in propane), this is delivered-energy equivalent to 256 GWh/yr with a weighted average price of $0.147/kWh. Surely for this price and quantity we could supply this from our locally abundant renewable resources, such as hydro, biomass (wood and/or pellets) and wind, thereby re-capturing all of this expenditure to the Yukon's economy? And it's carbon-neutral as a bonus.
Now, I'm no economist, so perhaps someone who understands these matters more can comment here, but as I see it re-capturing $37 million in leakage from the Yukon's economy is equivalent to a 2.2% increase in the Yukon's GDP. In 2009, the Yukon was Canada's poster child for economic growth with an GDP growth of just 1.4%. What an easy GDP boost--stop sending money Outside for fossil fuels, buy Local Energy!
Any current or aspiring politicians listening for an easy win?
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2 comments:
It will be hard to get Yukoners excited about the possibilities when we've seen one and then two wind generators up on Haeckel Hill for decades, apparently doing not much of anything, and Yukon Electric can't even supply our current power needs on a reliable basis.
Actually, I wasn't refering to the corporations at all. These kind of long-range planning decisions we need to make as a society, both at an individual level, and at an organizational level (e.g. all levels of goverment).
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