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Solar Energy Market in Canada to Grow by USD 2.25 Billion from 2025-2029, Government Support for Solar Technology Boosting Growth, AI’s Impact on Transformation – Technavio

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NEW YORK, Feb. 5, 2025 /PRNewswire/ — Report with market evolution powered by AI – The solar energy market in canada size is estimated to grow by USD 2.25 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  23.9%  during the forecast period. Increasing government support for solar power technology is driving market growth, with a trend towards growing adoption of pay-as-you-go (payg) model. However, competition from alternative energy sources  poses a challenge. Key market players include Azgard Solar Inc., Bird Construction Inc., BluEarth Renewables, Canadian Solar Inc., DP Energy, Gorkon Industries, Great Canadian Solar Ltd., Greengate Power Corp., HELIENE Inc., miEnergy Inc., PureSky Community Solar Inc., Quadra Power Inc., and VCT Group Inc..

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Solar Energy Market In Canada Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2022

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 23.9%

Market growth 2025-2029

USD 2250.5 million

Market structure

Concentrated

YoY growth 2022-2023 (%)

20.1

Regional analysis

Canada

Performing market contribution

North America at 100%

Key countries

Canada

Key companies profiled

Azgard Solar Inc., Bird Construction Inc., BluEarth Renewables, Canadian Solar Inc., DP Energy, Gorkon Industries, Great Canadian Solar Ltd., Greengate Power Corp., HELIENE Inc., miEnergy Inc., PureSky Community Solar Inc., Quadra Power Inc., and VCT Group Inc.

Market Driver

Solar energy is a rapidly growing sector in Canada’s energy market, with renewables, including hydro, wind power, and solar, accounting for over 80% of new electricity capacity additions in 2020. The solar industry is gaining momentum as the world moves towards net-zero emissions and the Paris Agreement. Solar energy harnesses the power of the sun through photovoltaic cells, converting radiation into electricity. The market is witnessing a shift from traditional fossil fuels like coal to cleaner, low-cost energy generation. BP’s latest report predicts solar energy will overtake hydro as the largest renewable energy source by 2025. Solar energy is not just about electricity but also heating, making it a versatile solution for both rural and urban communities. The Canadian solar market faces challenges such as access to electricity in remote areas, where diesel generators are commonly used. However, solar energy offers self-sufficiency and reduces environmental pollution and carbon footprint. The solar industry requires technical expertise, trained personnel for installation, maintenance, and operation. Government subsidies and grid connections are crucial for the growth of this sector. Solar technology continues to evolve, with advancements in monocrystalline, polycrystalline, cadmium telluride, and amorphous silicon cells. Energy storage devices and power conversion technologies improve efficiency and ensure a consistent power supply. The solar industry’s future lies in its ability to adapt to the evolving energy landscape, including the growing demand for EV charging infrastructure. 

Over the past decade, the demand for improving energy access has been a significant focus across Canada. The decreasing costs of decentralized renewable technologies, such as solar photovoltaic (PV) and energy storage, have made off-grid technologies more affordable. However, the high upfront costs of building and financing renewable-based mini-grids have been a barrier for households. To address this issue, a new business model called Pay-As-You-Go (PAYG) has emerged. Under this model, customers make a small initial payment and follow up with predetermined installments, typically made via mobile phones. If a customer fails to make a payment or is overdue, the system is designed to be disabled. This innovative financing solution has the potential to accelerate the adoption of solar systems in Canada, particularly for off-grid and under-served communities. 

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 Market Challenges

•         The Solar Energy Market in Canada faces challenges from fossil fuels, hydro, and wind power generation as traditional energy sources. The shift towards Net-Zero Emissions and the Paris Agreement pushes for more Renewable Energy Sources. Solar energy, derived from the Sun, is a promising solution for electricity and heat generation. However, radiation levels and climate change pose challenges. Solar energy’s efficiency can be improved through Photovoltaic cells, including monocrystalline, polycrystalline, cadmium telluride, and amorphous silicon cells. BP reports that solar energy will be the cheapest energy source by 2025. Challenges include installation, storage, and power conversion devices. Coal, hydro, and diesel generators contribute to greenhouse gas emissions, environmental pollution, and population growth’s carbon footprint. Government subsidies and access to electricity are crucial for rural communities. Grid connections, technical expertise, trained personnel, maintenance, and operation require investment. Self-sufficiency through solar energy technology is a goal, but EV charging infrastructure and end-use efficiency must also be considered.

•         The solar energy market in Canada has seen significant growth, yet fossil fuels continue to dominate the country’s energy production and consumption. According to the International Energy Agency (IEA), over 80% of Canada’s energy comes from conventional sources like oil, coal, and natural gas. Establishing renewable energy farms for solar power generation involves substantial costs, and the power output from these sources is not yet equivalent to that of fossil fuels.

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Segment Overview 

This solar energy market in Canada report extensively covers market segmentation by  

ApplicationGrid-connectedOff-gridEnd-userUtilityRooftopTechnologyPhotovoltaic SystemsConcentrated Solar Power SystemsGeographyNorth America

1.1 Grid-connected-  The grid-connected segment of Canada’s solar energy market is projected to dominate the industry in 2024, driven by the increasing adoption of renewable energy sources, electric mobility, and digitalization of the grid. Grid-connected solar PV systems directly supply solar energy to buildings without energy storage systems, with surplus energy fed back to the grid and shortfalls imported. Cost reductions in solar PV systems make them a cost-effective electricity solution. The Canadian government’s energy policies support solar PV installation in residential homes and businesses, with plans to add 2 GW of renewable energy, including solar, to the grid by 2030. These factors will significantly fuel the growth of the grid-connected segment of the solar energy market in Canada.

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Research Analysis

Solar energy is a renewable and clean source of electricity that harnesses the power of the sun through photovoltaic cells. It is becoming an increasingly popular alternative to traditional fossil fuel-based energy sources due to its environmental benefits and potential for low-cost energy generation. Solar energy is a key component of the transition to renewable energy sources and net-zero emissions, as outlined in the Paris Agreement and the global effort to combat climate change. The solar energy market in Canada is growing, with advancements in technology leading to more efficient solar panels and the integration of energy storage devices and power conversion devices. However, the transition to solar energy also presents challenges, such as the need for technical expertise and trained personnel for installation, maintenance, and operation. Access to electricity, particularly in rural communities, is a significant issue in Canada. Solar energy offers a solution, with the potential to provide power to remote areas through the use of solar panels and battery storage. However, the initial cost of installation and grid connections can be a barrier. Government subsidies and incentives can help make solar energy more accessible and affordable for Canadians. The use of solar energy also reduces greenhouse gas emissions and decreases environmental pollution, making it an attractive option for those looking to reduce their carbon footprint. Despite these benefits, solar energy still faces competition from traditional energy sources such as coal and diesel generators. However, as the technology continues to advance and the cost of solar energy continues to decrease, it is poised to become a major player in Canada’s energy market.

Market Research Overview

Solar energy is a renewable energy source that harnesses the power of the sun using photovoltaic cells to generate electricity and provide heat. Canada, with its abundant sunlight and commitment to net-zero emissions, is an ideal market for solar energy. Solar energy production does not emit greenhouse gases, making it an environmentally friendly alternative to fossil fuels, hydro, and other traditional energy sources. The solar industry in Canada is growing, driven by the need to reduce carbon footprint, access to electricity in rural communities, and the increasing popularity of electric vehicles (EVs). Solar energy can be generated using various technologies such as monocrystalline, polycrystalline, cadmium telluride, and amorphous silicon cells. The installation, operation, and maintenance of solar energy systems require technical expertise, trained personnel, and access to grid connections. Energy storage devices and power conversion devices are essential for maximizing the efficiency of solar energy systems. The Canadian government offers subsidies to encourage the adoption of renewable energy sources and reduce reliance on coal and diesel generators. The solar industry also offers opportunities for self-sufficiency and reducing environmental pollution. The Paris Agreement and the global focus on climate change further highlight the importance of solar energy in the transition to a low-carbon economy.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationGrid-connectedOff-gridEnd-userUtilityRooftopTechnologyPhotovoltaic SystemsConcentrated Solar Power SystemsGeographyNorth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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THE MINISTRY OF DEFENCE ENHANCES NATIONAL RESILIENCE THROUGH SMART DEFENCE TECHNOLOGY INNOVATION

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KUALA LUMPUR, Malaysia, April 22, 2026 /PRNewswire/ — On April 20, The Prime Minister of Malaysia, YAB Dato’ Seri Anwar bin Ibrahim, officiated the Defence Services Asia (DSA) & National Security (NATSEC) Asia 2026 Opening Ceremony at the Malaysia International Trade and Exhibition Centre (MITEC).

Themed “Enhancing Capabilities and Resilience Through Technology”, the 19th Edition of the DSA 2026 Exhibition will run for four days from 20 to 23 April 2026. This exhibition aims to enhance defence capabilities and drive future technology to ensure national resilience through innovation, international cooperation and the development of the local defence industry ecosystem.

The main focus of this event is on the evolution of defence technology that has shifted from conventional assets to smart systems. Emphasis is placed on mastering technology that is capable of facing the security threats of the new millennium which are asymmetric and hybrid in nature.

Among the core advanced technologies featured :

a) Autonomous & Robotic Systems: Exhibition of various variations of unmanned systems (UAV, UGV, and UUV) equipped with Artificial Intelligence (AI) for long-distance monitoring and detection operations.

b) Digital & Cyber Defence: Application of new generation encryption technology and cybersecurity platforms to protect the country’s data sovereignty and critical infrastructure.

c) Sensor & Electronic Technology: High-precision radar and sensor systems that enable ATM readiness to be at an optimal level in monitoring space, maritime, and land in real-time.

In line with this global technology exposure, the government continues to strengthen the Industrial Collaboration Programme (ICP) as the main mechanism for technology transfer. Through the ICP, the involvement of international industry players is required to contribute to the development of local talent and research and development (R&D) in the high-tech sector.

Among the key segments highlighted are the CBRNe Arena, focusing on technologies related to chemical, biological, radiological, nuclear and explosive threats; the Firearms and Tactical Equipment Segment, showcasing the latest operational capabilities and equipment; and the Coalition of Defence Industry Malaysia (CDIM) Pavilion, which highlights the capabilities of the country’s defence industry. The DSA & NATSEC Asia Lab also showcases innovation initiatives by providing a platform for small and medium-sized enterprises (SMEs) and start-ups to introduce their innovations on the international stage.

This edition recorded the participation of 1,456 companies from 63 countries, including 37 international pavilions, as well as approximately 600 official delegations and 50,000 trade visitors from more than 114 countries within the 48,000-square-metre exhibition space. This scale of participation reflects the strategic importance of the exhibition at the global level and further demonstrates Malaysia’s position as a strategic meeting point for defence and security cooperation.

Also present were the Minister of Defence, YB Dato’ Seri Mohamed Khaled Nordin; Chief Secretary to the Government, Tan Sri Shamsul Azri Abu Bakar; Speaker of the Dewan Rakyat, Tan Sri Dato’ Dr. Johari bin Abdul; Chairman of DSA Exhibition and Conference Sdn Bhd, Tan Sri Asmat Kamaludin; Chief of Defence Force, General Datuk Haji Malek Razak bin Sulaiman; Secretary-General of the Ministry of Defence, Datuk Lokman Hakim bin Ali; Deputy Minister of Defence, YB Adly Zahari; as well as top management and senior officers of the Ministry and the Malaysian Armed Forces.

– END –

“‘MALAYSIA MADANI” “BERKHIDMAT UNTUK NEGARA”
”PERTAHANAN NEGARA, TANGGUNGJAWAB BERSAMA”

Ministry of Defence Malaysia
20 April 2026

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SOURCE DSA & NATSEC ASIA

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Grantd Launches Platform to Help Employees Understand Their Equity, Build Confidence in Their Financial Plan, and Connect to Advice When They Need It

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New Platform Gives Every Equity Recipient a Personalized View of Their Awards — and a Clear Path to Understand, Act, and Get Advice on Them

DENVER, April 21, 2026 /PRNewswire-PRWeb/ — Grantd, an AI-powered equity compensation platform whose advisor platform helps advisors manage over $14 billion in assets under administration for more than 400 registered investment advisory firms and 14,000 clients, today announced the launch of its issuer platform, Grantd for Work. The platform is built to give employees a clear, personalized understanding of their equity compensation — what they have, what it’s worth, how it fits into their broader financial picture, and what they should consider doing about it. Equity compensation is complex, and for most employees, it has been difficult to navigate without dedicated resources and support. Grantd for Work changes that — providing the tools, education, and guidance employees need to understand their awards with confidence, and connecting them to a financial advisor when they’re ready to take the next step.

“It gives every employee a real, personalized view of their equity — what it means for their financial goals, what actions they should consider, and a direct line to advice when they need it.”

The launch marks a significant expansion of Grantd’s reach — from individual equity recipients and their financial advisors to the employers and employees inside the companies that grant those awards. It also helps HR and compensation administrators gain better visibility into their programs, reduce the volume of manual employee questions, and identify where engagement and retention may be at risk.

“Equity is one of the most powerful forms of compensation companies offer — but for most employees, it’s also one of the least understood,” said Brian McDonald, Founder & CEO of Grantd. “An employee might receive an RSU grant, watch it vest, and still have no idea what the tax implications are, whether they should sell or hold, or how it changes their financial picture. Grantd for Work changes that. It gives every employee a real, personalized view of their equity — what it means for their financial goals, what actions they should consider, and a direct line to advice when they need it.”

Grantd for Work is built around the employee experience. Key capabilities include:

A personalized equity dashboard showing each employee’s total portfolio value, vested and unvested equity broken down by grant, external holdings, and concentration risk — giving them a complete, real-time picture of what they own, what it’s worth, and how it fits into their overall financial picture.AI-powered document reading that automatically extracts holdings from any brokerage statement or equity award summary — from any provider — so the platform is accurate and fully populated from day one, with no manual entry required.Financial goal tracking that maps each employee’s equity directly to their personal financial goals — financial independence, early retirement, a home purchase — showing whether they’re on track, what’s at risk, and how upcoming vests and exercises could change the outcome.A full equity planning toolkit, including concentration analysis, price target modeling, growth scenario projections, exercise planning, withholding analysis, and trading window tracking — alongside pre-built strategy templates like sell-to-cover, diversification sell-down, and automated trading plans.Ask Grant, an AI equity guide built directly into the platform that answers employees’ most pressing questions — from how RSU income is taxed at vest to what the ESPP 15% discount means for their tax situation — in plain language, on demand.AI agents that work for every employee — Grantd’s AI agents don’t wait to be asked. They continuously analyze each employee’s equity portfolio and surface timely, personalized insights. Every insight is specific to that employee — not generic equity education, but guidance grounded in what they actually hold.A learning center with articles and guides covering equity basics, tax and finance, investing strategy, and company-specific plan guides — so employees can build real confidence in their equity, not just access to it.A direct connection to financial advice when employees are ready to go beyond self-service — with their complete equity profile already structured and ready to share with an advisor.

For HR and compensation administrators, the platform also provides visibility into how equity programs are performing across the organization — including a live dashboard of total equity wealth created by employee, department, and level; proactive retention signals for employees with expiring grants or low engagement; and competitive equity modeling tools to help design compelling offers for prospective hires.

The new platform arrives at a time when industry leaders are rethinking equity program design and employee share plan strategy. Grantd will further that conversation at the Global Equity Organization’s (GEO) 27th Annual Conference in Austin, taking place April 21–23, 2026. On Wednesday, April 22, Brian McDonald will join the expert panel, “Strategic Shifts in Employee Share Plans: How Companies Are Redesigning Equity for 2026 and Beyond,” alongside fellow Grantd Advisory Board members Billy Vitense of Starbucks, Christine Zwerling of Asana, and Melissa Howell of Nike.

To learn more about Grantd for Work or schedule a demonstration, visit Grantd online at https://www.grantdequity.com/.

About Grantd:

Founded by Brian McDonald, Grantd is an AI-powered equity compensation platform built to simplify how equity is understood, managed, and acted on. Its advisor platform manages over $14 billion in assets under administration for more than 400 registered investment advisory firms, 2,600 advisors, and 14,000 clients. With the launch of Grantd for Work, the company now serves the full equity ecosystem — from individual equity recipients and their advisors to the employees who hold those awards and the HR and compensation teams who design and run the programs. Grantd is headquartered in Denver, Colorado.

Media Contact

Jane Kim, Grantd Equity, 1 (303) 515-3158, jane.kim@grantdequity.com, grantdequity.com

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SOURCE Grantd Equity

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FERMI PROVIDES BUSINESS UPDATE

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DALLAS, April 21, 2026 /PRNewswire/ — Fermi Inc. (d/b/a Fermi America) (NASDAQ: FRMI) (LSE: FRMI), operating as Fermi America™ (“Fermi” or the “Company”), subsequent to the Company’s announcement of Fermi 2.0 on April 20, 2026, has received significant and positive feedback from multiple potential tenants, the Company’s landlord, the Texas Tech University System, as well as suppliers, vendors, contractors, financing sources, and other partners. The Company is gratified by that feedback and is pursuing Fermi 2.0’s business and leadership objectives with all deliberate speed.

The Company also acknowledges receipt of a letter from Mr. Toby Neugebauer, and has reviewed a press release issued by him, calling for the initiation of a process for the immediate sale of the Company. As Mr. Neugebauer indicated in his press release, he was removed from his position on April, 17, 2026,  after careful consideration by the Company’s Board of Directors in accordance with its fiduciary duties. Given recent changes in leadership, which position the Company for its next chapter of growth and evolution from a startup to a scaled enterprise, the Company firmly believes a sale is not in the best interest of its continued momentum on Project Matador, ability to serve potential tenants and long-term value creation for shareholders. The Board, consistent with its fiduciary duties, will carefully review all avenues to maximize shareholder value, which include continued execution of its business plan, strategic investments from third parties, joint ventures or other transactions.

About Fermi America™

Fermi America™ (NASDAQ & LSE: FRMI) (fermiamerica.com) is pioneering the development of next-generation private electric grids that deliver highly redundant power at gigawatt scale, required to create next-generation artificial intelligence. Co-founded by former U.S. Energy Secretary Rick Perry and Co-Founder and former Co-Managing Partner of Quantum Energy Toby Neugebauer, Fermi America™ combines cutting-edge technology with a deep bench of proven world-class multi-disciplinary leaders to create the world’s largest, 17 GW next-generation private HyperGrid campus. Project Matador is expected to integrate the nation’s biggest combined-cycle natural gas project, one of the largest clean, new nuclear power complexes in America, utility grid power, solar power, and battery energy storage, to deliver hyperscaler artificial intelligence.

Additional Information and Where to Find It

If the Company determines to hold a special meeting of shareholders, the Company will file a proxy statement on Schedule 14A, an accompanying white proxy card and other relevant documents with the Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies from the Company’s shareholders for such meeting. SHAREHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ THE COMPANY’S DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO), IF ANY, AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY, IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and shareholders may obtain a copy of any definitive proxy statement of the Company, an accompanying white proxy card, any amendments or supplements thereto and other documents filed by the Company with the SEC if and when they become available at no charge at the SEC’s website at www.sec.gov. Copies will also be available at no charge in the “SEC Filings” subsection of the Company’s Investor Relations website at https://fermiamerica.com/ or by contacting the Company’s Investor Relations Department at IR@fermiamerica.com, as soon as reasonably practicable after such materials are electronically filed with, or furnished to, the SEC.

Participants in the Solicitation

If the Company determines to hold a special meeting of shareholders, the Company, its directors and certain of its executive officers may be deemed participants in the solicitation of proxies from the Company’s shareholders in connection with matters to be considered at such special meeting of shareholders. Information regarding the direct and indirect interests, by security holdings or otherwise, of the Company’s directors and executive officers is included in the Company’s final prospectus, filed with the SEC on October 1, 2025, the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 30, 2026, and in the Company’s Current Reports on Form 8-K filed with the SEC from time to time. Changes to the direct or indirect interests of the Company’s directors and executive officers are set forth in SEC filings on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4. These documents are available free of charge as described above. Updated information regarding the identities of potential participants and their direct or indirect interests, by security holdings or otherwise, in the Company will be set forth in the definitive proxy statement for the Company’s special meeting of shareholders and other relevant documents to be filed with the SEC, if and when they become available.

Forward-Looking Statements

Statements contained in this press release which are not historical facts, such as those relating to future events, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Fermi undertakes no duty to publicly update or revise such forward-looking information, whether as a result of new information, future events, or otherwise. Investors should consult further disclosures and risk factors included in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, the Registration Statement on Form S-8 and other documents filed from time to time with the SEC by Fermi.

 

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SOURCE Fermi Inc.

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