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Renewable Power in Canada Industry Data and Analysis
Renewable power producers have endured declines, largely because of drought conditions impacting hydroelectric generation in provinces like British Columbia and Manitoba. These challenges have led to increased reliance on electricity imports and have raised operational costs, hindering profit. However, Hydro-Québec's resilience, because of more favourable conditions, has allowed it to maintain stability and even expand its market share. Industry revenue has been decreasing at a CAGR of 1.9% over the past five years to total an estimated $39.1 billion in 2025, including an estimated increase of 1.6% in 2025 as the price of electric power climbs and pushes up revenue.
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What's included in this industry analysis
IBISWorld's research coverage on the Renewable Power industry in Canada includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released June 2025.
About this industry
What's this industry report about?
The Renewable Power industry in Canada operates under the NAICS industry code 22111bCA. Renewable power producers generate power by harnessing resources that are replenished naturally. Facilities include hydro, solar, wind, geothermal, biomass and other types of power plants that use renewable energy. Renewable power typically emits fewer pollutants than fossil fuel power generators. Related terms covered in the Renewable Power industry in Canada include crown corporation, joule, geothermal energy and biomass.
What's included in this industry?
Products and services covered in Renewable Power industry in Canada include Hydroelectric power, Wind power and Biomass.
What companies are included in this industry?
Companies covered in the Renewable Power industry in Canada include Hydro-Quebec, BC Hydro and Manitoba Hydro.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Renewable Power industry in Canada.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Renewable Power industry in Canada.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Renewable Power industry in Canada.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Renewable Power industry in Canada. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Renewable Power industry in Canada. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Renewable Power industry in Canada. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Renewable Power industry in Canada. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Renewable Power industry in Canada.
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Frequently Asked Questions
What is the market size of the Renewable Power industry in Canada in 2026?
The market size of the Renewable Power industry in Canada is $39.1bn in 2026.
How many businesses are there in the Renewable Power industry in Canada in 2025?
There are 49 businesses in the Renewable Power industry in Canada, which has grown at a CAGR of 1.3 % between 2020 and 2025.
How may import tariffs affect the Renewable Power industry in Canada?
The Renewable Power industry in Canada is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Renewable Power industry in Canada?
The Renewable Power industry in Canada is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Renewable Power industry in Canada grown or declined over the past 5 years?
The market size of the Renewable Power industry in Canada has been declining at a CAGR of 1.9 % between 2020 and 2025.
What is the forecast growth of the Renewable Power industry in Canada over the next 5 years?
Over the next five years, the Renewable Power industry in Canada is expected to grow.
What are the biggest companies in the Renewable Power industry in Canada?
The biggest companies operating in the Renewable Power industry in Canada are Hydro-Quebec, BC Hydro and Manitoba Hydro
What does the Renewable Power industry in Canada include?
Generating electricity through hydraulic turbines and Generating electricity through tidal power are part of the Renewable Power industry in Canada.
Which companies have the highest market share in the Renewable Power industry in Canada?
The company holding the most market share in the Renewable Power industry in Canada is Hydro-Quebec.
How competitive is the Renewable Power industry in Canada?
The level of competition is low and increasing in the Renewable Power industry in Canada.
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