Cleantech one of the fastest growing industries in B.C.: KPMG

Photo: Carlos Castilla, Shutterstock

The cleantech industry was worth $1.8 bilion to British Columbia’s economy in 2016, and it is outpacing most other sectors in terms of growth and job creation, according to a KPMG report released March 13.

The number of B.C. cleantech companies, which include those whose primary purposes are clean energy production, water treatment and energy or resource management, increased from 202 in 2010 to 273 last year. The sector employed 8,560 people last year, and the average salary was $84,000 – up from $68,000 in 2009.

“The cleantech sector continues to both experience and drive growth in our province as well as provide an attractive investment opportunities for British Columbians,” said KPMG Canada’s Lorne Burns, who authored the report.

“The jobs it offers are desirable ones; average salaries are high and the technologies those jobs produce contribute to a cleaner and more sustainable world.”

Globally, the cleantech industry is worth $3 trillion, and this is growing, according to KPMG’s study. The United States is the biggest customer of B.C.’s cleantech sector, and this is expected to grow over the next three to five years. As well, sales to Europe, Asia and other countries are expected to increase to one-third of total cleantech revenue by 2021.

The main customers of the industry are power and utilities and transportation.

ecrawford@biv.com

@EmmaHampelBIV

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