The Business Case for Renewable Energy: Lessons from Halifax’s Landmark Wind Energy Deal

By Dan Roscoe, CEO of Roswall Development

In a significant move toward a sustainable future, Halifax Regional Municipality (HRM) has made headlines with its groundbreaking wind energy deal with Roswall’s retail electricity supplier, Renewall Energy. This agreement not only marks a pivotal moment for Halifax but also sets a precedent for municipalities and businesses across Nova Scotia and beyond.

By prioritizing renewable energy, Halifax is showcasing how clean energy is not just an environmental necessity—it’s also a smart economic and logistical decision. Key lessons from this effort signal what’s to come for other municipalities and businesses looking to embrace renewable energy.

Leading by Example

As noted in a profile of the deal by CBC, Halifax has committed to purchasing 33,000 megawatt-hours (MWh) of renewable electricity annually from Renewall. Renewall will source all of it’s clean energy from the Mersey River Wind project, the Queens County wind farm developed by Roswall. This will account for 45% of the municipalities corporate electricity needs. This initiative is expected to reduce the city’s greenhouse gas emissions by 24% and cut corporate energy consumption by 19%.

What makes this deal even more attractive is the cost structure. Halifax has secured renewable electricity which is competitive with current market prices, with annual increases capped at just 1% for the next 20 years. For a city that spent $9 million on electricity in 2022, this agreement represents not only environmental progress but also long-term financial stability.

This forward-thinking move is part of Halifax’s larger HalifACT climate plan, which targets net-zero municipal operations by 2030 and overall zero emissions by 2050. By choosing to “clean its own house first,” Halifax is demonstrating the power of municipal leadership in tackling climate change.

The Economic and Logistical Benefits of Renewable Energy

Two factors make the economic advantages of this deal are clear, making it a compelling case for other municipalities and businesses to follow suit.

Unlike fossil fuels, which are often subject to volatile global markets and geopolitical instability, renewable energy offers much-needed predictability. Halifax’s locked-in rates provide not only immediate savings but also protection from future price hikes, ensuring long-term financial stability.

Additionally, advancements in technology and increasing scale have made renewable energy cost-competitive with fossil fuels. Projects like Mersey River Wind highlight how clean energy can deliver both environmental benefits and significant economic returns, reinforcing its viability as a sustainable energy solution.

The logistical benefits of renewable energy projects are equally clear, particularly for wind energy, which offers distinct advantages for municipalities and businesses.

Mersey River Wind exemplifies this efficiency, with the first turbines expected to be operational by 2026. This swift implementation highlights the agility of renewable energy projects compared to the lengthy timelines often associated with traditional fossil fuel infrastructure.

Beyond their environmental advantages, renewable energy projects also have a significant local impact. In rural areas such as Queens County, these projects generate jobs during both construction and operation phases, fostering economic development and contributing to the growth of local communities.

Halifax’s proactive approach offers a tangible model for others to replicate, demonstrating the economic and environmental value of prioritizing renewable energy. By committing to a wind energy partnership with fixed, predictable rates, Halifax has shown how municipalities can reduce emissions, stabilize energy costs, and achieve net-zero targets. This clear and measurable success provides a pathway for other cities to adopt similar strategies that secure cost-effective, sustainable energy sources. Businesses, too, can follow Halifax’s lead by leveraging renewable energy to cut operational expenses and lower carbon footprints. Programs like Nova Scotia’s Renewable to Retail initiative make it easier for companies to engage in private-sector partnerships, accelerating the transition to clean energy while reaping both financial and environmental benefits.

Renewable Energy as a Strategic Advantage

As fossil fuels become increasingly exposed to inflation and the spectre of supply chain disruptions grows, renewable energy offers a stable and reliable alternative. By investing in renewable energy, Nova Scotia is positioning itself as a leader in the clean energy transition. This not only helps meet climate goals but also attracts green businesses and investments, driving long-term economic growth for the province.

Halifax’s agreement with Renewall is more than just a renewable energy deal—it’s a strategic investment in the future. By locking in stable rates, reducing emissions, and demonstrating municipal leadership, Halifax is paving the way for other municipalities and businesses to follow suit.

As Nova Scotia continues to embrace wind energy, it is poised to take advantage of being a leader in the clean energy transition, proving that what’s good for the planet is also good for business. The message is clear: the time to act is now. Renewable energy isn’t just a choice—it’s the future.