The Renewable Energy Public R&D Budget in Canada saw significant fluctuations from 2013 to 2023. After an initial decline in 2013, the budget increased substantially until 2016. However, there was a notable drop in 2017 and 2018. Since then, the budget has generally stabilized with slight year-on-year variations. In 2023, the budget stood at 12.55 units, reflecting a modest 0.8% increase from the previous year. The average annual growth rate over the past five years has been around 4.23%.
Future trends to watch for include consistent and incremental increases in public R&D expenditure, with a forecasted annual growth rate of 0.49% over the next five years. This indicates a more stable investment outlook, focusing on long-term development and sustainability in renewable energy technologies.