Geothermal power has taken hold in two dozen countries around the world. Yet Canada, which has plentiful geothermal resources, especially in the West, remains a blank slate.
A lack of government policy support is blamed for keeping the industry from getting started here. Indeed, while geothermal was seen as a possible alternative to the giant Site C dam in British Columbia, the provincial government gave the hydroelectric project the go-ahead in December. Ironically, several companies that own geothermal projects in other countries trade their shares on the Toronto stock exchanges, raising money here from investors knowledgeable about the broader resource sector.