Canada’s Deputy Prime Minister Chrystia Freeland. Image: Chrystia Freeland via Twitter.
Canada’s government will introduce tax incentives for clean energy technologies, including solar PV, battery storage, and hydrogen.
Announced yesterday by Deputy Prime Minister Chrystia Freeland as part of Canada’s Fall Economic Statement 2022, the move has already been welcomed by renewable energy, energy storage and manufacturing trade groups.
The government proposes to introduce a refundable tax credit equivalent to 30% of the cost of capital investment into electricity generation systems, stationary electricity storage systems, low-carbon heat equipment and industrial zero-emissions vehicles and related charging or refueling equipment. Projects that do not meet requirements on local labour conditions will get a 10% reduction in the minimum tax credit rate
A higher…